New Delhi, February 12: The Pandit Deendayal Upadhyaya National Academy of Social Security (PDUNASS) organised a focused half-day workshop on the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016, aimed at strengthening the institutional preparedness of the Employees’ Provident Fund Organisation (EPFO).
The workshop was specifically designed for Members of the Central Board of Trustees (CBT), Members of the Investment Committee, and senior officers of EPFO. It sought to enhance their understanding of insolvency resolution mechanisms, legal finality, and administrative processes linked to the IBC.
Shri Ramesh Krishnamurthi, Central Provident Fund Commissioner (CPFC), addressed the participants virtually. He underscored the importance of a well-informed approach in dealing with insolvency-related matters, especially for statutory bodies entrusted with safeguarding the retirement savings of millions of subscribers.
According to him, timely and legally sound decisions in cases under the Insolvency and Bankruptcy Code are crucial to protect subscriber interests while ensuring strict adherence to the evolving regulatory framework.
Leadership Participation and Institutional Dialogue
Ms. Roli Shukla Malge, Financial Adviser and Chief Accounts Officer (FA & CAO) of EPFO, also attended the session virtually. The programme witnessed active participation from CBT members, Investment Committee representatives, and officers from EPFO Headquarters and PDUNASS.
Shri Kumar Rohit, Director of PDUNASS, highlighted that such capacity-building initiatives equip decision-makers with clarity and confidence when navigating complex legal and financial frameworks. He stressed that understanding procedural nuances under the IBC enables EPFO leadership to act decisively in sensitive cases.
Shri M.M. Ashraf, Additional Central Provident Fund Commissioner, was also present during the workshop.
Key Themes Discussed During the Workshop
The workshop included detailed sessions on the structure of the Corporate Insolvency Resolution Process, interpretation of legal finality under the Insolvency and Bankruptcy Code, and issues surrounding post-resolution recovery. Discussions also touched upon exceptions, compliance responsibilities, and administrative closure procedures.
Participants engaged in meaningful deliberations on practical challenges that may arise during insolvency proceedings involving establishments covered under EPFO. The interactive format allowed trustees and senior officers to exchange insights and clarify operational concerns.
The Insolvency and Bankruptcy Code, 2016, available at the official portal of the Insolvency and Bankruptcy Board of India (ibbi.gov.in), provides the legal framework for insolvency resolution in India. The EPFO functions under the Ministry of Labour and Employment, details of which can be accessed at labour.gov.in.
Strengthening EPFO’s Institutional Preparedness
The initiative reflects PDUNASS’s continued commitment to enhancing institutional capacity within EPFO. As the apex training institute of EPFO, PDUNASS plays a pivotal role in equipping officers with the knowledge required to handle complex financial, administrative, and legal matters.
Established in 1990, PDUNASS undertakes training, research, and consultancy in the field of social security. With evolving legal frameworks such as the IBC increasingly intersecting with statutory bodies, such workshops are becoming essential for informed governance.
By focusing on the Corporate Insolvency Resolution Process under IBC 2016, the academy has taken a significant step toward ensuring that EPFO’s trustees and leadership remain prepared to respond effectively to insolvency-related developments while protecting the interests of millions of provident fund subscribers across the country.