Chartered Accountants from India and Singapore discuss way forward for issues related to dispute resolutions

Singapore, Aug 4 (PTI) Chartered accountants, financial experts, legal and corporate affairs professionals from India and Singapore on Friday exchanged ideas on managing issues related to dispute resolutions, global debt, insolvency and funding at a meeting here.

RESOLVE-2023 is the inaugural international convention by the Institute of Chartered Accountants of India's (ICAI) held in Singapore in its 75 years of existence.

"The convention shows professionals from India are interested in establishing a network with their Singapore counterparts in the corporate world," said Vikram Nair, a Singaporean Member of Parliament and legal expert who was the guest of honour at the event.

Noting the interaction of 120 Singapore professionals at the convention with their counterparts from India, Nair said that such knowledge sharing can create more opportunities for experts from the two countries as well as others.

Overall, more than 300 delegates on Friday started discussions that would also look for opportunities for international funds, the essence of insolvency timelines, and innovative approaches to resolution.

The convention will continue on Saturday with panel discussions in Singapore covering the role of regulators & policy makers between India and Singapore for an effective ecosystem, the role of creditors, market dynamics for stressed assets, valuation, and transaction review among others.

Adding more insights on the RESOLVE-2023, Aniket Sunil Talati, President of ICAI, said, “A comprehensive and coherent Insolvency Resolution Framework is one of the core pillars of economic growth of any nation and a strong resolution framework is indispensable for laying down the foundation for future sustainable development.

“RESOLVE-2023 will provide a unique learning opportunity for professionals across the world to learn and share the best practices and developments in the space of insolvency resolution," Talati said.

“The Convention has been designed in a way to enable the sharing of knowledge with unsurpassed depth and breadth about the best practices and emerging global developments in this sphere,” said Somnath Adak, Chairman of the ICAI Singapore Chapter.

“The Convention focuses on various significant thematic issues concerning the profession globally. ICAI Singapore Chapter, being the Ambassador of ICAI in Singapore, is proud to host this event.” The Institute of Chartered Accountants of India (ICAI) is the largest accounting body in the world, with about 1.2 million members including about 600 in Singapore. PTI GS FZH FZH