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Insolvency Professional Agency of
The Institute of Cost Accountants of India

(Section 8 Company registered under the Companies Act, 2013)

Board of Directors

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CHAIRMAN
Dr. J. D. Sharma

Dr. Jai Deo Sharma is M.com, CAIIB, DIM, MBA, LLB and Ph.D

He has over 39+years in Indian Overseas Bank with Exposure in Banking and Finance, Loan recovery, Suit filed accounts, International Trade Finance, HR, Vigilance and IR, Faculty member in IOB’s training system for 4.5 years.

He was a Part – time Director on the Board of IOB from March 2006 to December 2009 and From May 2013 to May 2016.

He was a Part – time Faculty in Monetary Theory at Indian Institute of Bankers, Mumbai for One Term

  • Examiner in Business Management at Indian institute of Bankers , Mumbai for 5 years
  • Member, committee on Banking and Insurance at Institute of Cost Accountants of India
  • Member , International Advisory Board (Journal at Institute of Cost Accountants of India)
  • Gave a Forward to Monograph on Risk Based Internal Audit of Commercial Bank, Institute of Cost Accountants of India
  • Reviewed the Book on Stock Audit in Banks Published by Institute of Cost Accountants of India
  • Presentation before Joint Parliamentary Committee on Insolvency and Bankruptcy Code along with President (ICAI) and Advisor, MRAF (ICAI)
  • Director, IOBOA Academy for Research and Education, Chennai

He was a Guest Lecturer in various Institutions of Repute

  • Institute of Cost Accountants of India
  • Institute of Companies Secretaries of India
  • Administrative Staff College of India, Hyderabad
  • Centre for Organisational Development, Hyderabad
  • National institute for Banking Studies and Corporate Management, Noida
  • Bank of India Staff College, Noida
  • Punjab National Bank Staff College, Delhi

He has been Chief Guest, Guest of Honour and Panellist at

  • Institute of Cost Accountants of India
  • SRM University, Chennai
  • AMET University, Chennai
  • University of Madras
  • AMITY University, Noida
  • IILM, Greater Noida
  • Several colleges affiliated to University of Madras
  • Motivational Talk in Various PG colleges and Govt. Schools at Chennai

He has Published more than 30 Research Papers and Articles in Various National and Internationals Journals including the Management Accountant (ICAI) on various subjects like Banking, Finance, Reforms in Financial Sector, CSR, Costing, HR and issues relating to Organisational Development

He wrote Thesis on Post Globalisation motivational Dimensions announced for the officers of Indian Public Sector Banks

  • Evolved a new Theory of Motivation – Skill Gap Theory of Motivation as a Post-Doctoral Study
Dr. J. D. Sharma
INDEPENDENT DIRECTORS
Mr. P. N. Prasad

Shri P.N. Prasad joined as Probationary Officer in State Bank of India on 09.12.1983 and rose up to the position of Deputy Managing Director in the Bank. After 37 years of service, he superannuated from the services of the bank on the 31 st May 2020. At the time of superannuation, he was heading the Commercial Clients Group, the Corporate Banking Vertical of State Bank of India. He was also heading the Project Finance & Structuring SBU of the Bank, the only such SBU among all Commercial Banks in India.

Mr. Prasad is a Postgraduate in Chemistry and is an All India rank holder in CAIIB examination conducted by the Indian Institute of Bankers. During his long career of 37 years in State Bank of India, Mr. Prasad held several important assignments viz., Branch Manager, Vidyanagar Branch (Vakadu); Chief Manager (Credit), Commercial Branch, Hyderabad; Assistant General Manager & Relationship Manager at Corporate Accounts Group Branch, Ahmedabad and at Industrial Finance Branch, Baroda. On his promotion to Top Executive Grade, he held the assignment of Deputy General Manager & Branch Head, Diamond Branch, Mumbai. From September 2008 to 2013, he was the Chief Executive Officer, Antwerp Branch in Belgium looking after operations of the Bank in the BENELUX region.

In his career, he handled some challenging assignments in leadership positions such as Chief Executive Officer, Antwerp; General Manager, Mid Corporate Regional Office, Chennai covering states of Tamil Nadu, Kerala and Pondicherry; Chief General Manager (Mid Corporate), covering Western India and Deputy Managing Director (Commercial Clients Group) including the Project Finance & Structuring Strategic Business Unit (PF& S SBU). Mr. Prasad has got rich experience in Corporate & International Banking, Project Finance & Structuring, Debt Syndication, Stressed Asset Management & Resolution, Risk Management, Trade Finance, Compliances etc.

Mr. Prasad was the Chairman of the Co-Ordination Committee appointed by the Ministry of Commerce, Govt. of India, to address the issues faced by the Gems & Jewellery Sector in India. He represented the Bank in committees appointed by the Ministry of Civil Aviation and Ministry of Power to address the issues faced by these sectors. He was the nominee director of State Bank of India in HDFC Venture Capital Ltd and Oman India Joint Investment Fund Management Company Private Ltd.

He is presently a shareholder Director in Bank of India. He is also a Senior Advisor (Banking) to Gem & Jewellery Export Promotion Council (GJEPC); Advisor- The Investment Trust of India Group, Senior Advisor -Brescon & Allied Services LLP; Senior Advisor- Avendus Group and Advisor – Wanbury Ltd.

Dr. Divya Sharma

Dr. Divya Sharma is a PhD. In Commerce (Doctorate in Philosophy), M. Phil(Master in Philosophy), M.Com (Master in Commerce), M.A (Master in Economics ), LLB, MCA & B.Com. Currently she is Assistant Professor,Department of Commerce, Bharati College, University of Delhi & Visiting Faculty,SOL, Delhi

She has previously worked:

  • As “Assistant Professor”, Department of Commerce, Aditi Mahavidyalaya,Delhi University. (10 years)
  • As “Lecturer”, Department of Commerce, B. R. Ambedkar College, Delhi University. (13 months)
  • As “Lecturer”, Delhi College of Advance Studies, GGSIPU, Delhi.
  • As “Visiting Faculty”, R.C. Institute of Technology, Najafgarh, Delhi,GGSIPU, Delhi
  • As “Guest Lecturer”, College of Vocational Studies and Satyawati College, Delhi University.
  • As “Course Writer of MCA/BIT” IGNOU.
  • As “Project Proposal Evaluator of MCA” with IGNOU, August 2004 onwards.
  • As BCA Evaluator with IGNOU, Dec 2002 onwards,
  • As BCA & BBA Evaluator with GGSIPU, June 2004 onwards.
  • Associated as “MCA Syllabus setter” with IGNOU, meeting held on 1st October, 2004.
  • Counselor, IGNOU Study Center, Maharaja Surajmal Institute and CCIT.
  • As "Research Assistant" on a UGC project Titled “The Impact of Cost, Quality and Support Services on Student Perception in Self Financed Higher Education Institutes. January 2003 – September 2004.

She has various publications in her name. some are listed below:

  1. Co-writer for MCA course material for IGNOU
    • Accounting and Financial Management, Block 1: Accounting System, ISBN-81-266-2113-3
    • Accounting and Financial Management, Block 2: Understanding and Analysis of Financial Statements, ISBN -81-266-2149-4
    • Laboratory Course, Block 3, ISBN-81-266-2138-9
    • Operating System, Block 3, Advanced Topics and Cases, ISBN -81-266-2150-4
    • Advanced Databases Management System, Block 1, Database Design and Implementation, ISBN -81-266-2473-6
    • Introduction to Information Technology, Block 2, IT in Action, ISBN-978-81-266-3985-4
  2. Books
    • Unemployment to Employment via Vocationalisation of Education, Swaraj Book Distributors, Edition:2013, ISBN-978-81-924731-4-7
    • Training and Development, JSR Publishing House LLP, Delhi, First Edition:2018, ISBN-978-93-87684-19-5
    • Office Management and Secretarial Practice, Galgotia Publishing Company, Edition:2019, ISBN-978-93-86184-79-5
  3. Paper Presented (sole writer)
    • National Seminar organized by Bhim Rao Ambedkar College, Delhi University, 2005, “Terrorism and Business Psychology”
    • National Seminar organized by Aditi Mahavidyalaya, Delhi University,2013, “Electronic yug me print media ki stithi aur chunotiyan”,Electronic yug me mudrit madhyamo ki stithi aur chunotiyan, ISBN-978-93-83629-11-4
    • International conference organized by Delhi Technological University,2018,”Digitization of Business Transaction in India: A Legal Review”.
    • National Seminar organized by Rajdhani College, Delhi University, 2019,“Right to Have Clean Environment”.
    • National Seminar Organised by Aditi Mahavidyalaya, Delhi University,2019 “Evolution of Solid Waste Management in India”
  4. e-journal (co-writer)
    • “Why Foreign Direct Investment In Agriculture Retailing In India”, IRACST-International Journal of Commerce, Business and Management ICBB; ISSN: 2319-2828, Vol. 2, No. 6, Dec 2013
    • “SWOT Analysis of E-Commerce”, Advances in Electrnic and Electric Engineering, Research India Publication, Vol. 4, No. 6, 2014, ISSN-2231-1297
  5. Chapter Contribution
    • “The journey of Vocational Education in India”, Income Generation:Challenges and Opportunities, Akshar Publishers and Distributers, Delhi,2017, ISBN: 978-93-85600-19-7,pp 278-292.

RESEARCH PROJECTS

  1. Principal Investigator, Innovation Project. “ Psychological, Commercial and Legal Fight of Aged Consumes for Consumer Rights: A Self-help Group Technique”, successfully completed in 2016.
Dr. Divya Sharma
Mr. Narender Hooda

Mr. Narender Hooda is a B.A.LL.B (Hons) from Panjab University, Chandigarh completed in 1995. He is Practicing as Senior Advocate before Hon'ble Supreme Court of India, High Court of Delhi and other High Courts/Tribunals on engagement basis. Extensively conducting cases pertaining to Insolvency and Bankruptcy Code, 2016 before National Company Law Tribunal and National Company Law Appellate Tribunal being not limited to Companies Act, 2013.

Various Government Appointments held by him are:

  • Presently, working as Additional Advocate General for the State of Madhya Pradesh at New Delhi.
  • Appointed to the post of Senior Additional Advocate General, Haryana vide Order dated 01.12.2009 (made applicable till October 2014), appearing before the Hon’ble Supreme Court of India, and Hon’ble High Court of Punjab and Haryana at Chandigarh.
  • Appointed as the Standing Counsel, Government of Haryana vide Order dated 27.05.2005 (made applicable till the year 2014) for conducting cases on behalf of the following Government Bodies before the Hon'ble Court of Punjab and Haryana:
    • Haryana Vidyut Parsaran Nigam Ltd.,
    • Haryana Power Generation Corporation Ltd.,
    • Uttar Haryana Bijli Vitran Nigam Ltd.,
    • Dakshin Haryana Bijli Vitran Nigam Ltd.
  • Appointed to the post of Assistant Advocate General, Haryana for the year 2000-2001, appearing before the Hon’ble High Court of Punjab and Haryana at Chandigarh.
  • Worked as Panel Counsel for Punjab & Haryana High Court at Chandigarh.
  • Worked as Panel Counsel for Municipal Corporation, Faridabad.
  • Worked as Panel Counsel for Municipal Corporation,Gurugram
Mr. Narender Hooda
SHAREHOLDER DIRECTORS
CMA Balwinder Singh

  • CMA Balwinder Singh is a Fellow Member of the Institute of Cost Accountants of India. He is also Fellow Member of the Institute of Chartered Accountants of India, Fellow Member of the Institution of Valuers, Licentiate of Insurance Institute of India, Information System Auditor and Certified Arbitrator.
  • He qualified in the year 1996 and is a leading practising Cost Accountant. He has been actively associated with the Institute in various capacities since the year 1998. He has been Vice President of the Institute of Cost Accountants of India during the year 2018-19. He has been Central Council Member (2007-11 and 2015-19) of the Institute of Cost Accountants of India. Earlier to this, he has been Chairman, Chandigarh Chapter of the Institute of Cost Accountants of India during the year 2006-07.
  • He has been Chairman, Cost Accounting Standards Board during the year 2015-16, 2016-17 and 2018-19
  • He has been Chairman (2007-08, 2008-09) of Members Facilities & Services Committee, Chairman (2009-10) of Board for Training of Accounting Technicians, Chairman (2010-11) of Regional Councils & Chapters Co-ordination Committee and Chairman (2017-18) of Public Finance and Government Accounting.
  • He has also been Member, Cost Auditing & Assurance Standards Board, Taxation Committee, Corporate Laws Committee, Finance Committee, Executive Committee, Examination Committee and Member of various other committees of the Institute.
  • He represented in 17th Board meeting of Confederation of Asian & Pacific Accountants (CAPA) held in May, 2009 at Canada.
  • He represented in First Accounting Standards Meet for IFAC-International Federation of Accountants in Nov 2010 at Sri Lanka.
  • He has supported the initiative of the Institute of Cost & Management Accountants of Sri Lanka in setting up of Cost & Management Accounting Standards Board in 2019
  • He has been Member, Committee of Government of India, Ministry of Corporate Affairs on the revision of Depreciation rates prescribed under the Companies Act during the year 2008 & 2009
  • He has been Member, Committee on “Effect of IFRS on Indian Railways Finance Corporation”, PSU under Ministry of Railways
  • He has been Member, SAFA: South Asian Federation of Accountants’ Committee on Accounting & Auditing Standards, an apex body of SAARC from the year 2008 till 2011. From the year 2015 to 2019, he has been member of SAFA Committee on Professional Ethics Independence.
  • He has been Member of Accounting Standards Board of the Institute of Chartered Accountants of India from the year 2008 till 2010.
  • He is Expert Speaker on Accounting Standards for the last 21 years and has addressed large number of sessions on Accounting Standards, Cost Accounting Standards and IFRS at various professional platforms and corporate houses.
  • He is Author of publications on Conceptual Clarity on Accounting Standards (including comparison with IFRS)
CMA Biswarup Basu
  • CMA Biswarup Basu is a Fellow Member of the Institute of Cost Accountants of India and an alumnus of South Point High School, Kolkata.
  • He started his Professional career in 1985 as Management Trainee in a Multinational Company of repute and thereafter joined Bharat Coking Coal Limited in 1988 as Finance Officer. Subsequently he joined a wholly owned company of Government of West Bengal in a Senior Position where he served for 29 years. He has a total stint of 34 years of Industrial exposure.
  • He was elected to the Central Council of the Institute for the term 2015 – 2019 as Central Council Member of the Institute.
  • He served the profession as the Chairman of Members’ Services & Facilities Committee (2015-16 & 2016-17), Journal & Publications Committee (2017-18) & Members in Industry Committee (2018-19). During his tenure he has taken several initiatives that would increase the scope and development of the profession.
  • Additionally, he was member of the Finance Committee in the year 2015-16 and member of the Examination Committee for year 2016-17, 2017-18 and 2018-19.
  • He had the privilege of serving the profession as a Member of the Eastern India Regional Council (EIRC) for 3 terms viz.1995-98, 1998-2001, 2004-2007 in various capacities; as Treasurer (1995-96 & 1996-97), Secretary (1996-97 & 1997-98) and Vice Chairman during the period 2000-01.
  • He has been re-elected to the Central Council for the term 2019-23.
CMA Vijender Sharma
  • CMA Vijender Sharma is a Central Council member of Institute of Cost Accountants of India for year 2019-23 and Chairman of Professional Development Committee of the Institute(2019-20).
  • He is a Fellow Member of “The Institute of Cost Accountants of India”, (ICAI) and Law Graduate. He is a leading practicing Cost Accountant since 1998 & Insolvency Professional since Jan' 2017. His dynamism is embedded with rich experience of over 21 years in diversified areas of Financial, Cost and Management Accounting, Internal Audit, Management Consultancy, Forensic Audit, Insolvency and Liquidation, etc.
  • He has been actively associated with the Institute in various capacities since the year 2007. He has been Central Council Member 2015-19 of the Institute of Cost Accountants of India. He has been Chairman of Committee on Public Finance & Government Accounting (2018 - 2019), Chairman of Election Reform Committee (2016-17 and 2017-18)and Chairman of Professional Development Committee (2015- 2016).
  • Earlier to this, he has been Regional Council Member of North India Regional Council of the Institute of Cost Accountants of India(NIRC-ICAI) for the term 2007-2011 & 2011-2015. He has been Chairman of NIRC of ICAI (2012-2013 and 2014-2015) and Secretary of NIRC of ICAI (2011-2012).
  • CMA Vijender Sharma is active member of the :
    • Insolvency Professional Agency of Institute of Cost Accountants of India (IPA-ICAI).
    • Insolvency Professional of Insolvency and Bankruptcy Board of India.
    • PHD Chamber of Commerce- Committee for Insolvency & Bankruptcy Code, Committee for National Council on MSME & Committee for Indirect Tax.
    • ASSOCHAM- Committee for Forensic Audit, Committee for Direct Tax Committee, & Committee of Law & Justice Committee.
    • Association of Certified Fraud Examiner (ACFE).
    Developed advocacy for the profession with maximum representation to the different authorities of Central & State Govt., Public & Private enterprises through a dedicated, focused and strategic approach, combined with aggressive follow-up.
  • He has been speaker for various programs/seminar for Comptroller and Auditor General of India (CAG), Insolvency & Bankruptcy Code, Goods and Services Tax (GST), Forensic Department, Excise Department , Service Tax Department.
  • He has organized many programs for professionals :
    • For development of professionalism & updation in GST and IBC.
    • Large numbers of programs related to knowledge of Income Tax, Central Excise, VAT, Cost Audit, Forensic Dept., Banks etc.
    • Competency & Capacity building programs to enhance skills and explore the talent for CMA Members.
Mr. Sushil Behl

Mr. Sushil Behl is a science post graduate with MBA in Finance from Faculty of Management Studies, University of Delhi.

He superannuated from the Board level position of Director (Finance) of Western Coalfields Limited, a Govt. of India undertaking & a production subsidiary of Coal India Limited (a Maharatna company of the Govt. of India) in August 2013. He has a well-diversified experience of about 37 years (pre-retirement) in the Indian Coal Industry by working in different managerial capacities primarily in the Finance discipline including the Board Level position for about 4 years.

He has specialized skills in Corporate Governance, Corporate Finance, Coal Pricing, Budgetary Control, Corporate Law & Taxation, Procurement Procedures, Contract Management, Financial Due Diligence, IPO Launch and Dispute Resolution Mechanisms. His excellent perception of corporate financial matters had always been highly acclaimed and appreciated by the Company’s Board. He also has a very resilient ability of analyzing complex situations and arriving at apposite conclusions, a quality that has always benefited the organization.

He has a versatile exposure in overseas M&A Activities/ Trade in coal space during his tenure with Coal Videsh Division of CIL and International Coal Ventures Pvt. Limited (a JV company of CIL, SAIL, NTPC, RINL & NMDC), being a member of the Joint Business Development Group representing CIL. He was also associated with the study on the Mechanism for Coal pricing conducted by Tariff Commission, during the year 2005 and Bureau of Industrial Cost & Prices (BICP), during the year 1982, 1987, and 1991.

He was also actively involved with the CIL core team on capital restructuring of debt liability of Rs. 2229 crores, during the period 1994-1996. This improved the net worth of the company by Rs. 892 crores, interest reduction by 160 crores per annum, thereby improving the investment grade rating for its bonds to A+ from a tentative BB. With this, CIL could secure 1 billion $ sectoral loan from World Bank/ JBIC.

He is currently an Independent Director with a private sector power/ steel company. He was a Government Nominee on Central Council (2015-19) of the Institute of Cost Accountants of India and member of various Boards and Committees.

He is also an Insolvency Professional registered with the Insolvency and Bankruptcy Board of India (IBBI) and a Principal Advisor in KG Somani Insolvency Professionals Private Limited.

During his career, he attended Advance Management Development programs at St. Catharine's College, University of Cambridge, U.K. and Australia.

Mr. Sushil Behl