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PLANNING & STRATEGIESIBBI Limited Insolvency Exams

Insolvency & Bankruptcy Code 2016Rules, Regulations, Allied & Other Laws

ByVinay Mruthyunjaya

B.Com., LLB., FCARecently Qualified IP Exams

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INTRODUCTIONPLANNING & STRATEGIES

SYLLABUS

REFERENCE -BOOKS,

MATERIAL & WEBSITES

EXAMS STRUCTURE /

EXAM CONDITIONS

START TO FINISH

CONTENTS

INTRODUCTION

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3INTRODUCTION

IBC-2016is applicable

Corporate & LLPIndividual & Partnership firms

INDIAN INSOLVENCY LAWS

CORPORATE INDIVIDUAL1. Companies Act, 1956

2. Sick Industrial Companies (special provision) Act,1985

3. Recovery of Debts Due to Bank Financial Institution Act,1993

4. Securitization and Reconstructions of Financial Assets and

Enforcement of Security Interest Act,2002 -SARFAESI

5. Companies Act –Chapter XIX & XX (2013)

6. The Insolvency and Bankruptcy Code –IBC,2016

1. Presidency Towns Insolvency Act,1909

2. Provincial Insolvency Act, 1920

3. Partnership Act, 1932

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SUBJECT/ TOPICS

IBC-20%

RR-20%

CL-8%ICA-7%

RB-6%

FA-7%

GA-6%

JP-10%

CAC-12%

CAI-4%

IBC- IBC Act

RR- IBC Rules & Regualtions

CL- The Co Law & LLP

ICA- Contracts

RB- RDDB/SERFESI/SEBI

FA- Finance & Accounts

GA- General Awarness

JP- Judicial Pronouncements

CAC- Case Analysis - Corporate

CAI- Case Analysis - Indl & Firms

SYALLBUS – WEIGHTAGE, PLANNING & STRATEGIES 11 of 21

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5SYLLABUS FOR EXAMINATION- 1 (7)

1 The Insolvency and Bankruptcy Code, 2016 (Entire Code) 20

Sl No.Weight

(%)SUBJECT/ TOPICS

Date Sections Schedule

28-05-2016 255 11

23-11-2017 2 0

06-06-2018 4 1

261 12

Parts Sections Chapters Titles

Part I 1-3 1 Preliminary

Part II 4-77 7 Corporate persons

Part III 78-187 7 Individuals /PF

Part IV 188-223 7

IBBI/IPA/IP/IU Inspections & Investigations. Accounts & Finance

Part V 224-255 1 Miscellaneous

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CODE STRUCTURE

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2 Rules and Regulations under the Insolvency and Bankruptcy Code, 2016 20

Sl No.Weight

(%)SUBJECT/ TOPICS

PrescribedRules

SpecifiedRegulations

5 15

Corporate Insolvency resolution plan

Liquidation process

Voluntary Liquidation

Application to Adjuring authority Fast track process

Registered Valuer IBBI model IPA Bye Laws

Annual Report IBBI IPA

Form of Annual Statement IBBI IP

Salary & Allowances IBBI IU

IBBI Board meetings

IBBI Advisors

Researchers Consultants

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a. The Companies Act, 2013 –Chapters• (III ) Prospectus and Allotment of Securities• (IV) Share Capital and Debentures• (V) Acceptance of Deposits by Companies• (VI) Registration of Charges• (VII) Management and Administration• (IX) Accounts of Companies• (XV) Compromises, Arrangements and Amalgamations• (XVII) Registered Valuers• (XVIII) Removal of names of the companies from the register of companies• (XX) Winding-up of the companies• (XXVII) NCLT and NCLAT• (XXVIII) Special Courts• (XXIX) Punishments

b. The Limited Liability Partnership Act, 2008 • (Nature of LLP; Partners and their Relations; Limitation of Liability;

and Financial Disclosures)

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SUBJECT/ TOPICSSl No.

Weight (%)

SUBJECT/ TOPICS

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(i) The Indian Contract Act, 1872,

(ii) The Partnership Act, 1932;

(iii) The Sale of Goods Act, 1930

(iv) The Transfer of Property Act, 1882;

(v) The Specific Relief Act, 1963; and

(vi) The Negotiable Instruments Act, 1881

07

Sl No.Weight

(%)SUBJECT/ TOPICS

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(i) The Recovery of Debts due to Banks and Financial Institutions Act, 1993;

(ii) Securitization and Reconstructions of Financial Assets and Enforcement of

Security Interest Act,2002;

(iii) SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009;

(iv) SEBI (Delisting of Equity Shares) Regulations, 2009;

(v) SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;

(vi) SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015;

(vii) The Arbitration and Conciliation Act, 1996; and

(viii) The Limitation Act, 1963

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SYLLABUS FOR EXAMINATION- 5 (7)

Sl NoWeight

(%)SUBJECT/ TOPICS

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General Awareness:

(i) Constitution of India: Right to Constitutional Remedies; provisions of

Union Judiciary; provisions of High Courts in the States

(ii) Rights of Workmen under Labour Laws

(iii) Economy

(iv) Financial Markets

(v) Basic concepts of Valuation

(vi) Forensic Audit

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SYLLABUS FOR EXAMINATION- 6 (7)

6Finance and Accounts (Corporate Finance; Financial Analysis; Liquidity Management; Tax Planning and GST)

07

Sl No.Weight

(%)SUBJECT/ TOPICS

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SUBJECT/ TOPICS

9

10

Case Analysis - on Corporate Insolvency Resolution and Liquidation.

Case Analysis - on Individual Insolvency Resolution and Bankruptcy.

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04

TOTAL 100

Note :- This syllabus will be valid for Limited Insolvency Examination w.e.f. from 1st July, 2019.

8Case Laws- Important Decisions of Supreme Court, High Courts, NCLT relating to Corporate Insolvency Resolution Process

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Sl No.Weight

(%)SUBJECT/ TOPICS

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SUBJECT/ TOPICS

PLANNING & STRATEGIES

20 20 26 7 6 8 7 6

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IBC

IBC

IBC

IBC

IBC

IBC

RR

RR

RR

RR

RR

RR

JP+CAC+CAI

JP+CAC+CAI

JP+CAC+CAI

JP+CAC+CAI

JP+CAC+CAI

FA

FA

FA

FA

GA

GA

GA

GA

CL

CL

CL

ICA

ICA

RB100

94

87

79

66

40

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11 questions

2-Marks each

MCQ

100 Marks

89 questions78 Questions

1 Mark each

EXAM STRUCTURE

60%PASSING MARKS

25%NEGATIVE MARKING

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ITEM 08

8.

EXAM STRUCTURE 15 of 21

IBC – Act20 x 1

Rules & Regulations 20 x 1

The Co Law & LLP8 x 1

Contracts7 x 1

RDDB/SERFESI/SEBI

6 x 1Finance & Accounts

7 x 1

General Awareness 6 x 1

Judicial Pronouncements

5 x 2

Case Analysis –Corporate

6 x 2

Case Analysis –Indl & Firms

4 x 1

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QB on IBC – ICAI

ICAI 1&2 Series

Judicial pronouncements

FAQ on IBC – ICAIInsolvency & Bankruptcy Code 2016

Rules

Regulations

Allied laws

REFERENCE BOOK, MATERIALS AND WEBSITES

Exams Practice

Private sessions/Private Books

III PI-ICAI Website

Online Test

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16IMPORTANT WEBSITES

1. ENROLLMENT -https://ibbi.gov.in/examination/view-examination/11

2. SYLLABUShttps://www.ibbi.gov.in/examination/syllabus4

3. EXAM PREPARATION -https://www.iiipicai.in/

4. EXAM REGISTRATION https://ibbiliexam.onlineregistrationform.org/IBBI/LoginAction_input.action

5. SAMPLE QUESTION PAPERhttps://www.ibbi.gov.in/examination/view-examination/11

6. IIIPI-ICAI, ICSI-IPA, IPAI-CMAIwww.iiipicai.in , www.icsiipa.com, www.ipaicmai.in

7. IBBI REGIATRATIONhttps://www.ibbi.gov.in/ips-register/pre-registration

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https://ibbi.gov.in/examination/view-examination/11

https://www.ibbi.gov.in/examination/syllabus4

https://www.iiipicai.in/

https://ibbiliexam.onlineregistrationform.org/IBBI/LoginAction_input.action

https://www.ibbi.gov.in/examination/view-examination/11

http://www.iiipicai.in/

http://www.icsiipa.com/

http://www.ipaicmai.in/

https://www.ibbi.gov.in/ips-register/pre-registration

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60+ marks

Answer Sure-shot

Time - JP/ Case study

50 : 50 No 50:50 – don’t even attempt

2 Hrs sufficient

2 Marks Questions Key

Practice test – online(time and correct answers)

TIPS - PLANNING & STRATEGIES

`

Review only doubtful ones.

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18EXAMINATION CONDITIONS

AT CENTRES

PHOTO IDENTITY

DECLARATION

NO BOOKS

HALL TICKET

PAPER AND PENCIL

ONLINE EXAMS

TWO HOURS

INSTANT RESULT

SYSTEM GENERATED QUESTIONS

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3PREPARE FOR

THE EXAM

5 DOWNLOAD HALL TICKET

6

PASS/FAIL

7 ENROLLMENT

WITH IPA

PROCEDURES & DOCUMENTATION -START TO FINISH

9REGISTER WITH IBBI

10INSOLVENCY

PROFESSIONAL

2ONLINE

REGISTRATION

1ELIGIBILITYCRITERIA

4BLOCK

THE SEAT

QUALIFIED INSOLVENCY PROFESSIONAL

8PREC

11AUTHORISATION FOR ASSIGNMENT

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• PHOTO

• PAN

• ADDRESS PROOF

• IDENTITY PROOF

• AADHAR CARD

• EDUCATIONAL QUALIFICATION

• PROFESSIONAL QUALIFICATION

• SOLVENCY EXAMINATION MARKS CARD

• ICAI MEMBERSHIP CARD

• ICAI MEMBERSHIP CERTIFICATE

• GST NO

• DIN

• ITR 3 YEARS

• LATEST CIBIL REPORT

• PASSPORT COPY

• ICAI COP

• IPA CERTIFICATE

• PREC CERTIFICIATE

• IBBI REGISTRATION

• AUTHORISATION FOR ASSIGNMENT

DOCUMENTATION REQUIRED START TO FINISH 20 of 21

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