IP Rajesh Shah

  July 9, 2021

Mr. Shah is a Pune-based IP.

Profile of IP Rajesh Shah

How did you decide to become an IP?

I was always in service. In the last company, I was a part of the cost-cutting operation. I was exploring things to do on my own as “Job offers and I were not matching each other”.

I got registered as SEBI-RIA and as an Insolvency Professional. After some time, I got interested and good cases came under IBC. I decided to practice as an Insolvency Professional full-time and surrendered my RIA registration.

How many assignments (CIRPs and liquidations) have you undertaken so far?

3 as an IRP, of which in one case I’m working as RP – Plan submitted to the NCLT for final approval.

1 as a Voluntary Liquidator.

I have also helped many other team members in their cases and learned a lot.

How has been your experience as an IP? What have been some of the challenges you’ve faced?

It used to start from explaining what is IBC and getting work was a tough task, but now things are changing.

Each case is different and every time you face new challenges. Yes, the first case is always most interesting. It was a gem company, and everything was a challenge.

Honestly, there is a lot of experience around and IP being a new profession, all are interested in helping each other.

How do you think IBC has evolved so far?

  1. IBC has evolved very well and in days to come it will become more mature.
  2. The only issue in my opinion is that the NCLTs can be strengthened, but the government is taking steps to resolve that. If this happens, most of the issues will get sorted.
  3. Of course, COVID-19 has also played its part.

What advice do you have for the professionals considering becoming an IP?

If they are young and have to specialise, this is one of the best places to be in. You get work satisfaction, decent remuneration and satisfaction of helping every stakeholder even though they may feel differently at times. But yes, this is full-time work.

(This interview has been edited for clarity.)

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