Piyush Goyal congratulates IIIPI for serving business
By; Pallab Ghosh
Radiance News Service
Indian Institute of Insolvency Professionals of ICAI (IIIPI) celebrated its 5th Foundation Day. Speaking on this occasion Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution, and Textiles Piyush Goyal said, "Since the enactment of IBC, India’s rank in ‘resolving insolvency’ indicator in World Bank’s ‘Ease of Doing Business Report’ has seen a meteoric rise of 84 places". He said there has been a dramatic improvement in the recovery rate from 26 (cents on the dollar) to 71.6 (cents on the dollar)".
The minister said, "IIIPI members are serving the country's interest by saving and creating business opportunities and entrepreneurship and has a big impact on saving jobs and reviving companies and by creating new banking opportunities".
Goyal listed out five guiding principles for Insolvency professionals, - Integrity, Objectivity, Competency, Confidentiality, and Transparency.