Limited Insolvency Examination – IBBI – Syllabus & Overview

The Insolvency and Bankruptcy Board of India has specified the syllabus, format and frequency of the “Limited Insolvency Professional Exam” (Examination) with effect from 1st January, 2018 as under.

Note : The syllabus for the exam is revised every six months. The main changes are around the latest Judicial decisions and updates within the Insolvency Law. Refer to the website for the latest updates.

I. Syllabus for Examination

Section a. – 20% weightage

The Insolvency and Bankruptcy Code, 2016 (Entire Code)

Section b. – 20% weightage

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

Section c. – 10% weightage

(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

(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)

Section d. – 6% weightage

(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.

Section e. – 6% weightage

(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.

Section f. – 6% weightage

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

Section g. – 6% weightage

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

Section h. – 10% weightage

Case Laws- (There will be five questions carrying two marks each from orders of Honorable 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 National Company Law Appelate Tribunal (NCLAT) – 2 Questions
Decisions of National Company Law Tribunal (NCLT) – 2 Questions

Section i. – 8% weightage

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.)

Section j. – 8% weightage

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.)

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

II. Format of Examination

The format of examination is as under:
a. The examination will be conducted online (computer-based in a proctored environment) with objective multiple-choice questions.
b. The duration of the examination will be two hours.
c. A candidate will be required to answer 87 questions in two hours for a total of 100 marks.
d. There will be negative marking of 25% of the marks assigned for the question.
e. Passing mark for the examination is 60%.
f.Passing candidates will be awarded a certificate by the Board.
g. A candidate will be issued a temporary mark sheet on submission of examination paper.
h. No workbook or study material will be provided.

III. Frequency of Examination

The frequency of Examination is as under:
a. The examination centres are available at 100 + locations in the country.
b. The examination will be available from 1st January, 2018.
c. A candidate needs to enrol for examination at
d. The candifdate needs to select IBBI-Limited Insolvency Examination and enrol himself for the examination by choosing the time, the day and the examination centre for the examination.
d. A candidate needs to provide PAN and Aadhaar to enrol for the examination.
e. A candidate needs to pay examination fee of Rs.1500 (One thousand five hundred rupees only) online on every enrollment.


List of NCLAT cases for Limited Insolvency Examination – w.e.f. 1st January, 2018

Please refer to the IBBI website for latest updates to this list before your exam.

1. P.K Ores Private Limited v Narmada Construction (Indore) Private Limited [Company Appeal (AT) (Ins) No.56 of 2017]
2. Meyer Apparel Ltd. & Anr. v Surbhi Body Products Private Limited [Company Appeal (AT) (Ins) No.33 of 2017]
3. M/s Global Steel Pvt. Ltd & Anr. v M/s Essar Project India Ltd & Anr. [CA(NCLAT) (Insolvency) No. 29/2017]
4. Philips India Ltd. v Goodwill Hospital & Research Centre Ltd. [Company Appeal (AT) (Ins) No. 14 & 15 of 2017]
5. Smart Timing Steel Ltd. v National Steel and Agro Industries Ltd. [Company Appeal (AT) (Ins) No. 28 of 2017]
6. Agroh Industries Private limited v Narmada Construction (Indore) P Limited [Company Appeal (AT) (Ins) No.57 of 2017]
7. Kaliber Associates Pvt. Ltd. v Mrs Tripat Kaur [ Company Appeal (AT)(Ins) No. 52 of 2017]
8. Kirusa Software Pvt. Ltd. v Mobilox Innovations Pvt. Td. [Company Appeal (AT)(Ins) 6 of 2017]
9. Era Infra Engineering Ltd. v Prideco Commercial Pvt. Ltd. [Company Appeal (AT) (Ins) No.31 0f 2017]
10. Seema Gupta v Supreme Infrastructure India Ltd & Ors [Company Appeals(AT)(Ins)
11. Vishwa Nath Singh Vs M/s. Visa Drugs & Pharmaceuticals Pvt. Ltd.[Company Appeal (AT) No. 234-235/2017]
12. PEC Ltd. Vs M/s. Sree Ramakrishna Alloys Ltd.[ Company Appeal (AT) No. 225,236/2017]
13. M/s. Unigreen Global Pvt. Ltd. Vs Punjab National Bank [Company Appeal (AT) No. 81/2017]
14. M/s. Hotel Gaudavan Pvt. Ltd. & Ors. Vs Alchemist Asset Reconstruction Co. Ltd. & Anr.[Company Appeal (AT) No 134,163,166/2017]
15. Forech India Pvt. Ltd. Vs Edelweiss Assets Reconstruction Company Ltd. & Anr.[Company Appeal (AT) No 202/2017]
16. M/s. Sabari Inn Pvt. Ltd. Vs M/s. Rameesh Associates Pvt. Ltd.[Company Appeal (AT) No 117/2017]
17. Ardor Global Pvt. Ltd. Vs 0Nirma Industries Pvt. Ltd.[Company Appeal (AT) No 135/2017]
18. Prowess International Pvt. Ltd. Vs Parker Hannifin India Pvt. Ltd.[Company Appeal (AT) No 89/2017]
19. Neelkanth Township and Construction Pvt. Ltd. Vs Urban Infrastructure Trustees Ltd.[Company Appeal (AT) No 44/2017]
20. Nikhil Mehta and Sons Vs AMR Infrastructure Ltd.[Company Appeal (AT) No. 07/2017]
21. Schweitzer Systemtek India Pvt. Ltd. Vs Phoenix ARC Pvt. Ltd. & Ors.[Company Appeal(AT) No 129/2017]
22. PEC Ltd. Through Shri Indra Vikram Singh Vs M/s Sree Ramakrishna Alloys Ltd.& M/s Sree Gangadhar Steels Ltd.[Company Appeal (AT) No 120,121/2017]
23. M/s. Speculum Plast Pvt. Ltd. Vs PTC Techno Pvt. Ltd.[ Company Appeal (AT) No 47,76,78/2017]
24. Anil Mahindroo & Anr. Vs Earth Iconic Infrastructure (P) Ltd.[ Company Appeal (AT) No 74/2017]
25. M/s. Aruna Hotels Limited Vs Mr. N. Krishnan[Company Appeal (AT) No 59,87,88/2017]
26. Sandeep Reddy & Anr. Vs Jaycon Infrastructure Ltd.[ Company Appeal (AT) No 228/2017]
27. Alpha & Omega Diagnostics (India) Ltd. Vs Asset Reconstruction Company of India Ltd. & Ors.[Company Appeal (AT) No 116/2017]
28. M/s Annapurna Infrastructure Pvt. Ltd. & Anr. Vs M/s. SORIL Infra Resources Ltd.[Company Appeal (AT) No 32/2017]
29. Achenbach Buschhutten CmbH & Co. Vs Arotech Ltd.[Company Appeal (AT) No 97/2017]
30. Uttam Galva Steel Limited. Vs DF Deutsche Forfait AG & Anr.[Company Appeal (AT) No 39/2017]
31. Macquaire Bank Limited. Vs Uttam Galva Metallics Limited.[Company Appeal (AT) No 96/2017]
32. Lokhandwala Kataria Construction Pvt. Ltd. Vs Nisus Finance & Investment Manager LLP.[Company Appeal (AT) No 95/2017]
33. M/s. Starlog Enterprises Limited. Vs ICICI Bank Limited [Company Appeal (AT) No. 05/2017]
34. JK Jute Mills Company Limited Vs M/s Surendra Trading Company [Company Appeal (AT) No. 09/2017]

List of NCLT cases for Limited Insolvency Examination w.e.f. 1st January, 2018

Please refer to the IBBI website for latest updates to this list before your exam.

1. Annapurna Infrastructure Pvt. Ltd. & Ors Vs. Soril Infra Resources Ltd. [C.P. No.(IB).22(PB)/2017
2. Col. Vinod Awasthy vs. AMR Infrastructures Ltd. [C.P. No. (1B)-10 (PB)/2017]
3. K. K. V. Naga Prasad vs. Lanco Infratech Ltd (CP (1B) No 9/9/HBD/ 2017)
4. One Coat Plaster and Shivam Construction Company Vs. Ambience Private Ltd. [CP (1B) No. 07/PB/2017] and [CP (1B) No. 08/PB/2017
5. State Bank of India vs. Essar steel India Limited (CP No.40/7/NCLT/AHM/2017)
6. IDBI Bank Limited vs. Lanco Infratech Limited (CP (1B) No.111/7/HDB/2017)
7. Industrial and Commercial Bank of China Limited & Anr. Vs. Alok Industries Limited (I.A. No. 188/NCLT/AHM/2017)
8. Magicrete Buildings Solutions Pvt. Ltd. Vs. Pratibha Industries Limited (T. C. P. No. 409/ (MAH)/2017)
9. Bharatbhai Vrajlalbhai Selani Vs. State Bank of India (C.P. (I.B) No. 63/10/NCLT/AHM/2017)
10. Mr. Sanjeev Jain vs. M/S. Eternity Infracon Pt. Ltd. (CP No. (IB)-113(ND)/2017)
11. Schweitzer Systemtek India Private Limited Vs. Phoneix ARC Private Limited (TCP No. 1059/1&BP/NCLT/MB/MAH/2017)
12. Anrak Aluminium Limited Vs. State Bank of India (CP (113) No. 127/10/HDB/2017)
13. Edelweiss Asset Reconstruction Company Limited Vs. Synergy Dooray Automotive Limited and ors, (CA NO. 43 and 57 of 2017)
14. IDBI Bank Ltd. vs. BCC Estate Pvt.[CP(I.B) No.80/7/NCLT/AHM/2017]
15. Macro Leafin Private Limited vs Arrow Resource Limited [CA no.259(PB)/2017 in CP -152(PB) of 2017]
16. Engenious Engineering Pvt.Ltd. vs Ones Natura Pvt Ltd. (C.P.(I.B) No.92/7/NCLT/AHM/2017)
17. ICICI Bank Ltd.vs. ABG Shipyard Ltd.(C.P.(IB) No. 53/NCLT/AHM/2017
18. Union Bank of India v Era Infra Engineering Ltd. (C.P.IB-190 (PB)/2017)
19. Sarthak Creations Pvt. Ltd. vs Bank of Baroda & Others (C.P. No. (IB) 85/10/NCLT/AHM/2017)
20. Axis Bank & DBS Bank vs.Edu Smart Services Pvt. Ltd. (C.P. (1B)- 102 (PB)/2017)
21. Neeta Chemicals (I) Pvt. Ltd. vs State Bank of India (C.P.No.(IB)/128/10/HDB/2017)
22. State Bank of India vs. Radheyshyam Fibres Pvt. Ltd. (C.P.(IB)No.51/7/NCLT/AHM/2017)
23. V.R. Polyfb Pvt.Ltd. vs. Sadhbhav Enterprise Pvt. Ltd. (CP No.(IB) No. 115/7/NCLT/AHM/2017)
24. Anil Kumar vs. Rolex cycles Pvt. Ltd. & Ors. (C.A. Nos. 122-124/2017)
25. Inderpreet Singh vs. Mariners Buildicon India Ltd. (C.P No. (1B)-185(PB)/2017)
26. M/s Softwareone India Pvt. Ltd. vs M/s Emkor Solutions Ltd. (CP(IB)253(ND)/2017)
27. State Bank of India vs. Namdhari Food International Pvt. Ltd. (C.P. No.(lB)- 189(ND)/2017)
28. Canara Bank V/s. Deccan Chronic Holdings Limited , C.P. No. IB/41/7/HDB/2017
29. Smart Timing Steel Vs. National Steel and Agro Industries Limited, Compny Petition No. 06/(I&BP)NCLT/MAH/2017
30. IDBI Bank Ltd V/s Asian Natural Resources India Limited. C.P.(I.B) No. 17/7/NCLT/AHM/2017

Limited Insolvency Exam IBBI Syllavus overview