CS Professional CRVI study plan

Build a one-page valuation toolkit mapping each method (DCF, comparable companies, comparable transactions, NAV, SOTP, EVA, relative and option-based) to the situations where it is defensible, and note the assumptions each method is most sensitive to.

Work through the DCF mechanics end to end on a single sample company: project five years of free cash flow, compute WACC from its cost of debt, cost of equity via CAPM, and capital structure weights, then bridge enterprise value to equity value per share.

Derive and interpret the multiples that matter in Indian deal practice (EV/EBITDA, EV/Sales, P/E, P/B, EV/EBIT) and explain in writing why the choice of multiple changes the answer.

Draft a 150-word note distinguishing fair value from fair market value and identifying the regulatory contexts in which each standard is used (registered valuer standards, Income-tax Act, company law, IBC).

Apply the income, market and cost approaches to at least two intangible assets (for example a brand and a customer contract) and record which approach survives scrutiny for each and why.

Compute goodwill and bargain purchase gain in a simple business combination and separate identifiable intangibles from residual goodwill.

Explain the valuation principles used in a scheme of arrangement, a buyback, a delisting offer and a preferential allotment, and note where a registered valuer's report is mandatory.

Solve five numerical problems on control premium, minority discount, lack of marketability discount and synergies, showing the arithmetic step by step.

Classify restructuring routes (merger, demerger, amalgamation, arrangement, reduction of capital, buyback, slump sale, hiving off) and state for each the governing provision and the approval thresholds involved.

Map the procedural sequence for a scheme under sections 230 to 232 of the Companies Act, 2013, from board approval through NCLT sanction, including the role of the report of the registered valuer, the fairness opinion and the treatment of dissenting members and creditors.

Summarise the tax treatment of amalgamation and demerger, distinguishing the conditions for a tax-neutral transaction from those that trigger capital gains.

Compare a court/NCLT-approved scheme with a slump sale and with a buyback on cost, timeline and stakeholder consent, and state when each is preferred.

Explain the SEBI Takeover Code triggers, the creeping acquisition limits, the open offer size and pricing formulae for direct and indirect acquisitions, and the exemptions available.

Analyse the concepts of control, persons acting in concert and indirect acquisition, and apply them to two fact patterns to decide whether an open offer is triggered.

Outline the merger control thresholds, the meaning of combinations, the target and turnover-based exemptions, and the standstill obligation under the Competition Act, 2002.

Describe the regulatory approval matrix for an M&A deal spanning the RBI, SEBI, CCI and sector regulators, and identify which approvals are conditions precedent.

Trace the corporate insolvency resolution process from the triggering default through admission, the public announcement, the constitution of the committee of creditors, the resolution plan and approval, citing the relevant timelines and the consequences of lapse.

Distinguish the roles and powers of the adjudicating authority, the resolution professional, the committee of creditors, the insolvency professional agencies and the Insolvency and Bankruptcy Board of India.

Apply the eligibility restrictions on resolution applicants and explain the grounds on which a resolution plan may be rejected.

Explain the waterfall and priorities in liquidation and the position of secured creditors, workmen, operational creditors and the Crown, and describe the limited circumstances for withdrawal or pre-packaged resolution.

Explain the grounds and procedure for avoidance transactions (preferential, undervalued, extortionate credit and fraudulent trading) and the look-back periods that apply.

Describe the debt recovery routes available to creditors outside the Code, including the Recovery of Debts and Bankruptcy Act, SARFAESI enforcement, and the interaction between them and a moratorium under the Code.

Compare the outcomes of resolution and liquidation for each class of stakeholder in a worked example, and identify who bears the loss first.

Summarise the personal insolvency and fresh start provisions and the circumstances in which they apply to individuals and partnership firms.

Outline the UNCITRAL Model Law on Cross-Border Insolvency, its key concepts (foreign main and non-main proceedings, centre of main interests, recognition, relief and cooperation) and the current position of India in adopting it.

Identify sectoral approval requirements for a change of control in banking, insurance, telecom, power and defence, and state the approving authority for each.

Explain how competition and foreign investment approvals interact with deal timelines, and identify the point at which each clearance must be obtained.

Draft a closing checklist for a cross-border acquisition listing every regulatory filing in sequence.

State the professional and ethical duties of the company secretary in restructuring and insolvency engagements, including conflicts of interest, confidentiality, independence and the consequences of professional misconduct.

Consolidate the whole syllabus into a one-page summary sheet per domain, each limited to the ten facts most likely to be tested.

Complete a timed full-length mock examination under exam conditions and score it, then classify every error as knowledge, application or presentation.

Revise only the classified error list and the summary sheets in the final two days, and rehearse a written answer structure of issue, rule, application and conclusion.