For Graduates, Advocates, Chartered Accountants, Company Secretaries and Cost Accountants.
Did you know? Each year around 1 lakh new firms are created in India, but unfortunately only a handful of them survive the stiff competition present in a market economy. The ones who fail to survive are left with two options for an exit: First is “Liquidation” and Second is to initiate proceedings under the Insolvency Law. Although liquidation might seem to be an easy and quick exit solution for the management of the company, it is generally not the preferred solution chosen by the creditors. This is where the insolvency law (“Insolvency and Bankruptcy Code 2016” in case of India) comes into play. The insolvency law provides the much-needed opportunity to a loss-making company to revive its proper functioning, by an orderly re-organization of its assets and liabilities, in a time bound manner, with the help of an Insolvency Professional.
What is the role of an Insolvency Professional?
- Manage the affairs of the corporate debtor, while conducting the Corporate Insolvency Resolution Process.
- Analyze the financial position of a company which is undergoing a Corporate Insolvency Resolution Process.
- Verify the claims submitted by the creditors and make arrangements to bring in interested Applicants willing to take over the company in distress and revive its business.
- Prepare an Information Memorandum and facilitate Resolution Plan.
- Ensure efficient and smooth liquidation of companies by selling the assets, and
- Act as a bridge between the company, creditors and the National Company Law Tribunal.
What do future career prospects look like, for an Insolvency Professional?
- The economic slowdown, triggered by the COVID-19 pandemic will lead to many job losses and eventually towards bankruptcy. But the only job that will thrive during these times, will be of an Insolvency Professional.
- India’s Insolvency law is still new and developing, making it the perfect time for someone to master the law and lead the way.
- In the past couple of years, insolvency cases have increased by more than 1000% and are expected to continue increasing in future.
What is the eligibility criteria for becoming an insolvency professional (IP)?
- Person is a resident in India,
- is not a minor,
- is solvent (i.e. he/she is not an undischarged insolvent or he/she has not applied to be adjudicated as an insolvent)
- is of sound mind,
- has the qualification & experience as specified by the Board
- has not been convicted by a competent court, for an offence punishable with imprisonment for a term exceeding six months, or for an offence involving moral turpitude, and a period of five years has not elapsed from the date of expiry of the sentence.
What is the process to become an IP?
With the amendment in 2021 in the eligibility criteria
For Professionals i.e. Those qualified in the field of law having 10 years of experience, Advocates having 4 years of experience, Chartered Accountant/ Company Secretary having 6 years of experience, or management professionals having 10 years of managerial experience and a Master’s degree or a two year full time PG Diploma in Management:
- Stage 1: Pass the limited insolvency examination
- Stage 2: Enrol as a professional member with an insolvency professional agency (IPA) within a period of 12 months of clearing the Limited Insolvency Examination.
- Stage 3: Complete a pre-registration educational course by the IPA.
- Stage 4: Apply to the Board for registration as an ‘insolvency professional’ (IP).
For Young Professionals, having less than 10 years or experience or no experience:
- Stage 1: Complete the Graduate Insolvency Programme (GIP)
- Stage 2: Pass the limited insolvency examination.
- Stage 3:Enrol as a professional member with an insolvency professional agency (IPA) within a period of 12 months of clearing the Limited Insolvency Examination.
- Stage 4: Complete a pre-registration educational course by the IPA.
- Stage 5: Apply to the Board for registration as an ‘insolvency professional’ (IP).
What is unique about the course?
- Time and Cost Effective: The course is designed to cover the complete syllabus in a timely manner, keeping in mind the needs of the examination.
- Top Notch Content: Complete exhaustive and easily explained notes will be provided to the students, so that they don’t have to purchase any other study material, after taking this course. The content is designed for speed reading, with smart study techniques, such as flow charts.
- Live Online Classes: Live online classes will be conducted to discuss various topics and to clear student’s doubts and queries. Moreover, solutions to queries will also be provided through various other platforms, like our Learning Management System (LMS), WhatsApp groups, emails, calls, etc.
- Statistical Analysis of your performance: Your performance will be evaluated regularly and statistics will be provided to you regarding your performance.
Course Structure
Sl. No. |
Topic |
Notes |
Pre- Recorded Videos |
Live Classes |
Recorded Sessions (For Revision) |
MCQs (In Quiz Format) |
1 |
The Insolvency and Bankruptcy Code, 2016 |
Yes |
Yes |
Yes |
Yes |
|
2 |
Rules and Regulations under the Bankruptcy Code |
Yes |
Yes |
Yes |
Yes | |
3 |
The Companies Act, 2013 |
Yes |
Yes |
Yes |
Yes |
Yes |
4 |
The Partnership Act, 1931 |
Yes |
Yes |
Yes | Yes |
Yes |
5 |
The Limited Liability Partnership Act, 2008 |
Yes |
Yes | Yes |
Yes |
|
6 |
The Indian Contract Act, 1872 |
Yes |
Yes |
Yes | Yes |
Yes |
7 |
The Sale of Goods Act, 193 |
Yes |
Yes | Yes | ||
8 |
The Transfer of Property Act, 1882. |
Yes |
Yes |
Yes | Yes |
Yes |
9 |
Negotiable Instruments Act,1881. |
Yes |
Yes | Yes |
Yes |
|
10 |
The Recovery of Debts due to Banks and Financial Institutions, Act, 1993 |
Yes |
Yes | Yes |
Yes |
|
11 |
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002 |
Yes |
Yes | Yes |
Yes |
|
12 |
PMLA Act, 2002 |
Yes |
Yes | Yes |
Yes |
|
13 |
The Arbitration and Conciliation Act, 1996 |
Yes |
Yes | Yes |
Yes |
|
14 |
The Limitation Act, 1963. |
Yes |
Yes |
Yes |
||
15 |
General Awareness |
Yes |
Yes |
|||
16 |
Financial and Account |
Yes |
||||
17 |
Case Laws |
Yes |
||||
18 |
Case study on Corporate Insolvency Resolution Process and Liquidation Process |
Yes |
Yes |
|||
19 |
Case study on Pre-Packaged Insolvency Resolution Process |
Yes |
Yes |
|||
20 |
Case study in Individual Insolvency Resolution Bankruptcy |
Yes |
Yes |
|||
21 |
Case study on Business and General Laws |
Yes |
Yes |
|||
22 |
Case study on Business and Professional Ethics |
Yes |
Yes |
Course Details
A student will be provided with the following-
- Total Number of MCQ: 3000
- Total Number of Notes: 250
- Total Number of Live Classes: 55
- Total Number of Case Summaries: 60 (All cases as per syllabus)
- Total Number of Pre-Recorded Videos: 20
- Total Number of Case Studies: 50
- Additional: Counselling as well as Doubt Resolution Support.
Money Back Policy
Upon 25% of course completion and fully attending the live classes for a duration of 1 month, if the person concerned is not satisfied with the course he/she shall be eligible for a 100% refund.
Certification
This course is recognized by the National Skill Development Corporation, a PPP under the Ministry of Skill Development and Entrepreneurship of the Government of India. You will receive a certificate cobranded by NSDC and Skill India on successful completion.
This is how the certificate from NSDC and Skill India will look as per the current applicable format (may change as per the approval authorities):
Exam Syllabus- (w.e.f 1st July 2023)
Sl. No. |
Subject/Topics |
Weightage (%) |
1 |
The Insolvency and Bankruptcy Code, 2016 |
04 |
2 |
All Rules and Regulations under the Bankruptcy Code |
06 |
3 |
Business Laws: The Companies Act, 2013 Chapter III - Section 23 to 42 The Partnership Act, 1931 The Limited Liability Partnership Act, 2008 The Indian Contract Act, 1872 (Of Contracts, Voidable Contracts and Void Agreements(Sections 10-30); Contingent Contracts (Sections 31-36); Performance of Contract (Sections 37-61); Novation, Rescission and Alteration of Contracts (Sections 62-67); Consequences of Breach of Contract (Sections 73-75); Contracts of Indemnity and Guarantee and Surety’s Rights (Sections 124-127); Bailment and Pledge (Sections 148- 181); Agency (Sections 182-238). The Sale of Goods Act, 1930. |
04 |
4 |
General Laws: Negotiable Instruments Act,1881. The Transfer of Property Act, 1882.The Code of Civil Procedure, 1908 The Limitation Act 1963 The Prevention of Corruption Act, 1988 and the Prevention of Money Laundering Act, 2002. The Recovery of Debts and Bankruptcy Act, 1993. The Arbitration and Concilation Act, 1996.The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002 The Micro, Small and Medium Enterprises Development Act, 2006. Real Estate (Regulation and Development) Act, 2016. Securities Contracts Regulation Act, 1956 and the following regulation:
The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 |
07 |
5 |
Finance and Accounts (Corporate Finance, Financial Analysis, Liquidity Management; Tax Planning and GST) |
02 |
6 |
General Awareness (Constitution of India, Rights of Workmen under Labour Laws, Basic principles of economy, Financial Markets, Basic concept of Valuation, and Forensic Audit) |
02 |
7 |
Case Laws- Important decisions of Supreme Court, High Courts, NCLAT and NCLT relating to Corporate Insolvency Resolution, Corporate Liquidation, Voluntary Liquidation and Fast Track Resolution Process. There will be five questions carrying two marks each. |
05 |
8 |
Case studies: There will be comprehensions each narrating a case and there will be questions based on the narrative:
|
70 |
Total |
100 |
Course Plan
Above prices are inclusive of all applicable taxes and charges.
Instructor led course with online live classes.
Individual strategies and focus areas to crack the exam.
Get digital access to entire study materials.
Access on LMS, Android or iOS app.
Doubt clearing on WhatsApp, LMS & in classes.
Doubt clearing within 24 hours.
Access to updated content for 6 months (Subject to extension till 1st exam attempt)
FAQs
We recommend that you should have completed your Higher Secondary / Class XII from a recognized Board / University. In the case of foreign nationals, you should have completed the equivalent of Higher Secondary in India in your respective country. You should also be comfortable with the English language and using a computer. However, we have no formal pre-qualification requirements because we are not a University or college. Anyone who wants to learn is welcome to join our courses.
No. Hardcopies are not provided for this course.
If international students require hard copy material, they need to share their correct address and we will let them know the cost of the courier which they need to pay and then the hard copy will be dispatched. This is the process because the cost of an international courier is very high compared to the domestic courier within India (for domestic courier we have no additional charges). Some international students provide us with an Indian address for couriering hard copy material. In those cases, we charge nothing extra for the courier.
A person can visit the official website of LawSikho and find the relevant course and see the course syllabus, learning objectives and even a list of weekly exercises. You can also subscribe for free sample material. If more clarification about the course is needed, feel free to chat with our online chat specialist. You could also call us on our landline number, +91 11 40845203 for further assistance.
We do not offer any demo classes. You will not understand the course's quality by attending a single class as the results we produce is done through a combination of many things - study material, assignments, personal feedback on assignments, and then finally, class. The only way to experience the course is to take the course for a month, risk-free, as we give no questions asked and refund between the 30th and 45th day provided you attend all classes and solve all the assignments.
The refund policy may vary. We advise you to go through the refund policy given on the respective course page to know the actual refund policy applied to you.