SIPI is an independent and dedicated think tank for the insolvency industry. The role of the think tank is to undertake research and bring out papers on best practices and standards for insolvency industry. It is also engaged in education and training of the consumers of insolvency law. SIPI plans to offer assistance to the insolvency professional agencies in the development of capacity of their members.  It will also function as a special purpose vehicle of INSOL India to deliver their technical programmes and publications.

A not for profit body, SIPI was set up in the year 2009 at the instance of the Ministry of Corporate Affairs, Government of India to serve as a representative body of insolvency practitioners. As a different framework for licensing and regulation of insolvency practitioners has been introduced under the Insolvency and Bankruptcy Code 2016, it was decided by SIPI Governing Board to convert it into a think tank to help in the development of soft infrastructure of the insolvency industry.