Sumant is the Past President of INSOL International - the London based world-wide federation of national associations for accountants and lawyers who specialise in turnaround and insolvency.
He was the first Asian and at 43, the youngest ever to be appointed as President of the prestigious international body with presence in over 70 countries through 40 Member Associations and over 9,000 professionals as members.
He was invited to join the board of INSOL in 2001 at the age of 35. He took over as President in 2009 in Vancouver Regional Conference after serving as Vice President for two years. Prior to that Sumant served on the board and executive committee of INSOL for many years.
The highlights of his contributions to INSOL include:
- Developing partnership with the IMF, World Bank Group, OECD and Hawkamah and leading them to the next level.
- He spearheaded the Middle East North Africa initiative which culminated in setting up of the Forum for Insolvency Reforms in MENA (FIRM), Regional Task force of Insolvency and other initiatives in Middle East region. FIRM partners include, INSOL, Hawkamah, International Finance Corporation, The World Bank and UNCITRAL.
- He was responsible for integrating INSOL with Forum for Insolvency Reforms in Asia resulting in INSOL being invited as a member of its steering committee and sharing the FAIR secretariat. FAIR partners include, Government of Australia, INSOL, The World Bank, UNCITRAL and other countries from Asia region.
- He initiated the INSOL Africa Roundtable which has emerged as an effective platform for policy reforms in the Africa Continent, with support from IMF, the World Bank and other global organisations.
- As chair of the membership development committee, he developed INSOL membership in many countries across different regions.
- He assisted practitioners and policy makers in many countries in setting up practitioners association. Some of these include India, Singapore, Sri Lanka, Nepal and other countries.
- He was member of Brisbane Initiative committee which proposed the INSOL Fellowship Course
