Law College Dehradun organized a one-day Certificate Course on Insolvency & Bankruptcy on 8th February, 2019. Mr. Abhishek Anand, Associate Partner of EPL, was the Keynote Speaker of the day. Principal & Dean Prof. (Dr.) Rajesh Bahuguna felicitated the guest and extended a warm welcome. He in his address introduced the guest as an alumnus of NLU Jodhpur, a Gold- Medalist and a distinguished personality in the field of litigation & dispute resolution including white collar crime and tax disputes.
Mr. Abhishek Anand began his lecture by stating that “Law is a subject which can never be taught because law is a matter of practice.” He also explained the purpose behind the Law and Bankruptcy Code 2016 through his personal experience. He emphasized on the significance of ratio of the judgment and its role, and thereafter led the discussion to substantive law. Following this a discussion on the need for new and separate legislation was made, which was dealt with the concept of ‘Social Contract Theory’ by Hobbes, Locke and Bentham’s theory of utilitarianism. The concept was elucidated by prominent case studies on insolvency and bankruptcy or corporate insolvency. The former involves the statement of fact whereas the latter involves the insolvency of a corporate. The requirement of sophisticated legislation was again highlighted and was compared with the requirement of statutory laws in England, where Common Law prevails.
Subsequently, the lecture cited prominent case studies to elucidate the concept of insolvency and bankruptcy or corporate insolvency. The former involves the statement of fact whereas the latter involves the insolvency of a corporate. The requirement of sophisticated legislation was again put under the lights and was compared with the requirement of statutory laws in England, where Common Law prevails. The entire session proved to be beneficiary for the participants, as it was explained lucratively by the speaker. It aimed at equipping the students with the knowledge on substantive law i.e. Insolvency & Bankruptcy Code. Mr. Anand concluded his speech by stressing on the importance of hard work and perseverance and motivated the students to keep themselves updated with the leading cases.