"The Insolvency Profession offers a challenging opportunity to the professional members as an Insolvency Professional plays a central role in the effective implementation of the Insolvency Law." Discuss this statement fr

The insolvency professional occupies a pivotal position and acts as an intermediary between the corporate debtor & creditor on one hand and the Adjudicating Authority on the other and functions under the watchful eyes of the Agency and the Insolvency Bankruptcy Board of India. This is a position of trust and confidence. In terms of work, the insolvency professional has to carry a heavy work workload - secretarial, legal, finance, management of business of debtor, valuation and sale of assets etc., fall under the care of the insolvency professional. This calls for the insolvency professional to be more than adequate knowledge in the field of human relations, finance, taxation etc. It goes without saying that the more endowed and equipped is the better are the chances of the resolution of the insolvency. An insolvency process cannot be imagined without the active involvement of an insolvency professional who is in many respects, the lynch pin of the same. He does play a central role and assumes many diverse functions like stakeholder management, business dynamics, strategic foresight, business resolution etc. It is therefore rightly said that the success of the insolvency/bankruptcy case primarily depends on the professional attending it.