Insolvency and Bankruptcy Board of India

02nd November, 2017

Limited Insolvency Examination, 1st January 2018

The Board hereby specifies under regulation 3(3) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, the syllabus, format and frequency of the "Limited Insolvency Examination" (Examination) with effect from 1st January, 2018 as under:

The syllabus for the “Limited Insolvency Examination” is as under:


Sl. No

Coverage

Weight (%)

a.

The Insolvency and Bankruptcy Code, 2016 (Entire Code)

20

b.

Rules and Regulations under the Bankruptcy Code (All Rules and Regulations notified under the Code till 31st December, 2017)

20

c.

(I) The Companies Act, 2013

  • Chapter III Prospectus and Allotment of Securities
  • Chapter IV Share Capital and Debentures
  • Chapter V Acceptance of Deposits by Companies
  • Chapter VI Registration of Charges
  • Chapter VII Management and Administration
  • Chapter IX Accounts of Companies
  • Chapter XV Compromises, Arrangements and Amalgamations
  • Chapter XVII Registered Valuers
  • Chapter XVIII Removal of names of the companies from the register of companies
  • Chapter XX Winding-up of the companies
  • Chapter XXVII NCLT and NCLAT

(II)The Partnership Act, 1932, and
(III)The Limited Liability Partnership Act, 2008
(Nature of LLP; Partners and their Relations; Limitation of Liability; Financial Disclosures)

10

d.

(i) The Indian Contract Act, 1872 (Voidable Contracts and Void Agreements; Contingent Contracts; Performance of Contract; Novation, Rescission and Alteration of Contracts; Agency; Consequences of breach of Contract; Indemnity and Guarantee, Surety; Bailment and Pledge; Set off)
(II) The Sale of Goods Act, 1930 (Sale, Condition and Warranty, Seller's Lien and Damages);
(III) The Transfer of Property Act, 1882.
(iv) Specific Relief Act,1963.
(v) Negotiable Instruments Act,1881.

06

e.

(I) The Recovery of Debts due to Banks and Financial Institutions Act, 1993;
(II) The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002; and
(III) Corporate Debt Restructuring Scheme, Strategic Debt Restructuring, and Scheme for Sustainable Structuring of Stressed Assets (S4A of RBI)
(iv) The Arbitration and Conciliation Act, 1996;
(v) The Limitation Act, 1963.

06

f.

General Awareness (Economy, Financial Markets, Rights of Workmen under Labour Laws and fundamental concept of Valuation)

06

g.

Finance and Accounts (Corporate Finance, and Financial Analysis, Liquidity Management, Tax Planning, GST)

06

h.

Case Laws- (There will be five questions carrying two marks each from orders of Hon'ble Supreme Court, High Courts, NCLAT and NCLT relating to Corporate Insolvency Resolution, Corporate Liquidation, Voluntary Liquidation and Fast Track Resolution Process.)


Decisions of Supreme Court/High Courts

- 1 Question

Decisions of NCLAT (CLICK HERE FOR LIST OF IMPORTANT NCLAT CASES)

- 2 Questions

Decisions of NCLT (CLICK HERE FOR LIST OF IMPORTANT NCLT CASES)

- 2 Questions


10

i.

Transaction analysis on Corporate Insolvency Resolution. There will one comprehension narrating the transaction. (There will be four questions based on the case carrying two marks each.)

08

j.

Transaction analysis on Individual Insolvency Resolution and Individual Resolution. There will one comprehension narrating the transaction. (There will be four questions based on the case carrying two marks each.)

08

Total

100

This syllabus will be valid for examinations conducted from 1st January, 2018.

The format of examination is as under:

The frequency of Examination is as under: