SDG 16: Peace, Justice & Strong Institutions | SDG 9: Industry, Innovation & Infrastructure
Institutions: Ministry of Corporate Affairs
The Ministry of Corporate Affairs has issued a Request for Proposal (RFP) for selecting a System Integrator to build and maintain the Integrated Platform for the Insolvency Ecosystem (iPIE). The platform aims to digitise and integrate insolvency processes across the Insolvency and Bankruptcy Code (IBC) framework, including NCLT, NCLAT, and IBBI, to improve efficiency, transparency, and coordination in corporate insolvency resolution.
The RFP also reflects the enforcement of GeMβs guidelines on buyer-added Additional Terms and Conditions (ATCs) to ensure fair bidding. Prohibited practices include mandating foreign certifications without Indian equivalents, naming specific brands or manufacturers, or demanding physical document submissions when digital uploads suffice. These safeguards are designed to enhance transparency, support MSME participation, and align procurement with Make in India and competitive neutrality principles.
This move is significant on two fronts: first, it marks a step toward digital transformation of Indiaβs insolvency ecosystem, potentially reducing delays and improving outcomes under the IBC. Second, it sets a governance benchmark by embedding procurement fairness norms into high-value tenders, signaling the governmentβs intent to strengthen transparency and broaden vendor participation.
Relevant Question for Policy Stakeholders:
How can the integration of digital insolvency systems under iPIE be leveraged alongside procurement reforms to not only streamline case resolution but also build trust among smaller vendors and stakeholders in Indiaβs corporate governance ecosystem?
Follow the full document here:
https://www.mca.gov.in/bin/dms/getdocument?mds=KLwBL9QVp6yrgDskWSIW4A%253D%253D&type=open