Event Rules

Guidelines for Participants for the Bank & ARC Summit
(This document will act as a manual of guidelines for the participants)
Introduction
A Mock Simulation Exercise (CoC meetings) is a comprehensively competitive set of
scenarios, designed to reinforce skills and understand the practicalities, at the end of a
training course. This is being hosted by the Graduate Insolvency Programme (Batch of 2022-
24) under the aegis of the Indian Institute of Corporate Affairs.
As a simulative exercise, the professionals of the Graduate Insolvency Programme
(GIP) will recreate the “Committee of Creditors (COC) Meetings” as envisaged under the
Insolvency & Bankruptcy Code, 2016 (IBC). This exercise will provide the professionals
with an opportunity to/demands skills:
● Step into the shoes of a stakeholder.

● Use analytical and critical thinking skills to arrive at a commercial decision.
● Conduct commercial negotiations for a complex distressed business.
● Conduct crisis communication activities by interacting with the requisite stakeholders.
● Produce an after-action review that encompasses the legal and financial acumen
acquired from the course.
● Synthesise and apply the theoretical knowledge obtained from the GIP training.
This simulation will be observed and adjudged by a panel of experts from various
banks and asset reconstruction companies.
Stakeholders:
● Each trainee is assigned as a member of a stakeholder team.

● Each team represents either a corporate debtor, creditors or resolution
professional, as the case warrants.
Schedule:
The CoC meeting shall be completed within a duration of 20 minutes, inclusive of
introduction by the resolution professional. Subsequently the panellists shall ask questions on
the decision making of the CoC.
Submissions:
● Each team has to make the written/powerpoint submissions, as and when necessary,
as may be prescribed by the law in force, as far as possible.
● Oral negotiations and communications may be substantiated with proper
documentation, if and when necessary.
Confidentiality:
● All the participants/teams are generally required to maintain confidentiality. However,
stakeholders are expected to interact with others where the process expects such
interaction as per the Insolvency and Bankruptcy Code, 2016.
● Compromising confidentiality will yield an unfair advantage to one another.
Evaluation Criteria:
● The external panellist shall evaluate the performance of teams and respective
individual participants on the basis of objective evaluation criteria.
● The teams and the respective individual participants shall be evaluated on multiple
parameters, inter alia, knowledge of facts and law, articulation, formatting and
contents of drafts, use of research, presentation, and logical flow of argument.
● Non-compliance with proper negotiations, dress code, and professional etiquette will
result in negative marking.
● Evaluation by the panelist will not be disclosed post-event.
● The decision of the panelist shall be binding and final.
Miscellaneous
● All the participants are required to maintain proper decorum during the competition.
● All the participants are required to maintain professional etiquette.
Additional Rules:
With regard to any clarifications, kindly contact Venkateshwara Perumal (For Problem 1) &
Pulkit Raswant (For problem 2).
What CoC May Consider:

1) Each class of creditors should consider which of the proposals is best for them.
2) To this end, this is what you need to assess – what is your debt exposure, what security do
you benefit from, what is your liquidation value, what is your voting share, what voting share
do other creditors have, which option needs what voting share to approve it, which creditors
you need to team up with, what distribution is fair to all parties.
3) Once this is done you need to decide how to convince the other creditors to vote for this
best alternative.
4) The RP will first discuss the proposal with help of powerpoint, followed by the other
stakeholders proposal.
5) During discussions for each proposal, each team should indicate whether they would vote
for it and if so, how they would expect distribution to occur.
6) If any creditor wishes to coordinate voting strategy with another creditor, such discussions
should be had out loud so that other creditors are aware and can counter with their proposals
to prevent such coordination, should they wish to do so.
How Did You Vote And Why?

The presenter, moderators and participants can discuss why teams voted the way they did and
what other alternatives could have been.

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Guidelines for Participants for the Bank & ARC Summit

(This document will act as a manual of guidelines for the participants)

● Step into the shoes of a stakeholder.

● Each trainee is assigned as a member of a stakeholder team.

What CoC May Consider:

How Did You Vote And Why?

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