‘Graduate Insolvency Programme is a unique course that combines practical and theoretical knowledge’
Ektaa Mathur, a 1st year student of Graduate Insolvency Programme (GIP) at the Indian Institute of Corporate Affairs (IICA), thinks that the business distress triggered by Covid-19 pandemic will ensure a lot of work for insolvency professionals in the near future. Insolvencytracker.in caught up with her to know her experience of pursuing this course. An excerpts:
What made you look for a career in the insolvency and bankruptcy space?
Like they say chose a job you love and you will never have to work a single day in your life. That’s how passionate I am about insolvency and bankruptcy regime. I am a corporate lawyer and I graduated in law in 2015 from Institute of Law, Nirma University, Ahmedabad. At that time also, I was following the drafting and implementation of the insolvency law in India. Now, it has come a long way.
What really made me look for a career in the insolvency and bankruptcy space was that as an Insolvency Professional (IP), you offer a valuable advice to companies at challenging and difficult times. This really sounded exciting to me and I decided to gain some expertise on the same. The Graduate Insolvency Programme (GIP) is unique as it combines practical and theoretical knowledge, which will be highly beneficial for a future IP.
How did you get to know about the Graduate Insolvency Programme?
I got to know about the course from one of my LLM batch mates, who happens to be from the first batch of GIP.
Given that it is a new course, and you are the second batch, was it easier cracking the entrance test given very few people would be appearing for it?
Well, I personally think that no entrance test in easy to crack. Since I am in the second batch, the exam pattern was the same but I believe that the questions were difficult as compared to previous year.
Have your law background and the fact that you had spent some time in financial institutions helped you in any way acing the exam?
Absolutely yes, the exam tests you in legal aptitude, logical reasoning and financial aptitude. Therefore, someone with law and finance background has an edge over others. However, since applicants from different career/educational background can appear for the exam, a comprehensive study guide is provided by IICA to all the students appearing for the exam.
Any tips for future candidates on how to crack the entrance test?
I would suggest you start the preparations as early as you can since this is an upcoming, demanding course and the competition is tough. Focus on understanding the concepts since it will help you even while you pursue the course. Lastly, keep checking the official GIP website as it helps you keep abreast with the exam syllabus and other requirements.
The course fee is over Rs 12 lakh. Do you think it is on the higher side?
Due to the pandemic, the course fee will be revised since we are pursuing the course online. However, it is true that Rs 12 lakh is a large amount for a course which has recently started in India. But a higher fee acts as a financial barrier for non-serious applicants.
Have you taken a bank loan to fund your studies? Was it difficult to get a loan for a relatively new course like GIP?
I haven’t taken a bank loan to fund my studies. Though, I know some students who have taken the loan and it was a smooth process for them to get a loan.
What are the career prospects for a student of Graduate Insolvency Programme?
I personally feel that this is a great time to invest in the course and gain knowledge from the programme. There will be a lot of work in this space. In trying times like these, many businesses have been hit by the pandemic, and so, a lot of work relating to restructuring, advisory on business improvements, etc will be available for IPs in the coming days.
Tell us about your campus life?
Due to the pandemic, the students of GIP haven’t been permitted in the campus yet. However, the administration is working on ways to get us on campus in a smooth manner. We have recently started with our second semester and we have created a vibrant student culture online — campus life is being replicated virtually.
