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INSOLVENCY PROFESSIONAL(IP) RELATED QUERY

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Shivam gupta

student

263 Points Posted on 30 August 2020

I am a CA final student and have planned to become a practising chartered accountant.I have just started my articleship journey.Before going for CA final attempt which is due in may23 ,I am thinking of pursuing Insolvency Professional(IP) course.I have googled a lot about it and watched many IBC videos on youtube of various faculties but still i am unable to decide whether to go for it or not.

I urge respected members to guide me in this regard.Looking forward to your kind replies.

Replies (1)

yasaswi gomes

My grammar is 💯 good I

7301 Points Posted on 03 September 2020

If it is comforting to know, Indian education never fancied bankruptcy, insolvency, forensic accounts or disposals of plants or acquisitions but I am not suggesting this as axiomatic. One of the qualified people spoke to me about this many years ago that this industry is always optimistic. This could be true because when I was going through INDAS standards, I could not find the Disposal of Subsidiaries standard included (Maybe it could have been in other standard which I am unaware of).

Coming to industry demand, I think the default rates were higher during 2008 and before as per this: https://www.mca.gov.in/MinistryV2/defaultercompanieslist.H T M L and not after. Companies might have lesser scope than banks.

One has to choose a career in demand! You can do other research by yourself as the demand for this is high in banks due to NPA's. https://bankersdaily.in/thursday-thirst-know-about-insolvency-professional/

All the best!