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.
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!
CAclubindia
