India Programme - Support Development of Insolvency Regulatory Framework in India

The UK and India have a strong partnership in financial services, driven by annual Economic and Financial Dialogues (EFDs) between Finance Ministers. During the meeting between the Prime Minister's Modi and May in April 2018, it was agreed to enhance the collaboration on financial services in particular on Insolvency, through a technical assistance programme .

Touted as one of the most significant reforms undertaken in modern era, the Insolvency and Bankruptcy Code (IBC), since its implementation in 2016 has played a significant role in resolving some of the largest and complex cases in the banking system, with the lenders making a significant recoveries, in some cases helping banks to recover 63% of outstanding amount.

Therefore, as a next step, the Government of India (GoI) is keen to address the missing feature of the current IBC code by further expanding the ambit of the law and develop the cross-border and personal insolvency regulatory framework.

Developing a coherent and transparent insolvency framework will help India not only in providing a crucial debt resolution and insolvency mechanism but will help strengthen the investment climate and advance economic growth, thereby reducing poverty in the country.

The UK, which has played a pivotal role in supporting the development of the IBC framework since its implementation is keen to support the GoI in its efforts to strengthen and design the new regulatory framework of insolvency law.

Additional information: In order to be considered for this project it and receive pre-qualification and/or tender information it is necessary that you register your company (including any relevant information requested) on the Foreign & Commonwealth Office Procurement Portal, e-Bravo. Failure to do this will mean your company may not receive a Tender; no tenders will be issued via open e-mail. Project 2001, ITT 2714 : India Programme - Support Development of Insolvency Regulatory Framework in India How to apply in this Project: 1. Register your company on the eSourcing portal (this is only required once) - Browse to the eSourcing Portal: https://fco.bravosolution.co.uk and click the link to register. - Accept the terms and conditions and click "continue" - Enter your correct business and user details - Note the username you chose and click "Save" when complete - you will shortly receive an e-mail with your unique password (please keep this secure). 2. Login to the portal with the username/password - Click on the relevant Invitation to Tender (ITT) to access the content - You can now access any attachments by clicking the "Settings and Buyer Attachments" in the "Actions" box; Responding to the ITT - You can choose to "Reply" or "Reject" (please give a reason if rejecting) - You can now use the 'Messages' function to communicate with the buyer and seek clarification - Note the deadline for completion, - There may be a mixture of online & offline actions for you to perform (there is detailed online help available), You must then publish your reply using the publish button in the "Actions" box on the left-hand side of the page. If you require any further assistance please consult the the online help or contact the eTendering help desk. Potential Providers should answer all questions as accurately and concisely as possible in the same order as the questions are presented. Where a question is not relevant to the Potential Provider's organisation, this should be indicated, with an explanation. Where attachments are requested to be submitted within the electronic PQQ/ITT, these shall be submitted in a PDF format (Adobe or similar). PQQ/ITT or Bids not submitted via the FCO's eProcurement portal will not be considered.