Mentorship can be defined as the guidance provided by a mentor, especially an experience person in a particular profession or field of knowledge, to those who are new entrants to IP profession, for orderly professional development of the latter and strengthening of insolvency regime. Such dispensation can be crucial for preparing the new entrant insolvency professionals, to be able to discharge their responsibilities properly. Another crucial aspect of a mentorship program lies in its being voluntary and pro bono involving no financial consideration between the mentor and mentee.