RGNUL Organises First National Corporate Liquidation Process Competition Under Insolvency and Bankruptcy Code
The 1st RGNUL National Corporate Liquidation Process Competition is a flagship academic initiative organised by the Insolvency and Bankruptcy Law Division (IBLD) under the Centre for Business Laws and Taxation (CBLT), Rajiv Gandhi National University of Law, Punjab. Conceived as a practice-oriented competition, it seeks to familiarise law students with the end-to-end corporate liquidation mechanism under the Insolvency and Bankruptcy Code, 2016, moving beyond conventional moot formats to reflect the real statutory and commercial responsibilities of a Liquidator.
The competition is structured in two stages. In the first stage, teams—acting jointly as a single Liquidator—are required to prepare and submit a Preliminary Report and a Progress Report based on a detailed factual proposition. These reports are modelled on Regulations 13 and 15 of the IBBI (Liquidation Process) Regulations, 2016, and require participants to analyse the corporate debtor's capital structure, assess assets and liabilities, identify unreliable records, propose inquiries, design a liquidation strategy, and provide quarterly-style updates on asset realisation, stakeholder settlements, litigation, avoidance transactions, expenses, and distributions. This stage evaluates participants' understanding of statutory compliance, financial analysis, and strategic decision-making in liquidation proceedings.
The second stage comprises Mock Proceedings, designed to test advocacy, commercial reasoning, and stakeholder engagement. The first round is an online Mock Stakeholders' Consultation Committee (SCC) Meeting, where teams defend their written submissions before a panel simulating SCC members, responding to rigorous questioning on valuation methodologies, claim treatment, liquidation strategy, and commercial prudence. The final round is an in-person Mock NCLT Hearing conducted on the RGNUL campus, where teams appear before a simulated NCLT Bench to argue issues relating to asset distribution, priority of claims, procedural compliance, and fairness under the statutory waterfall. Collectively, the competition offers participants a realistic, immersive exposure to insolvency practice, blending legal analysis with practical, stakeholder-driven decision-making.
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