IBBI Limited Insolvency study plan

Map the structure of the Insolvency and Bankruptcy Code, 2016 (IBC) by listing each Part, Chapter and the subject matter it governs, from memory, onto a one-page skeleton.

Define the key terms under Section 3 (claim, debt, default, financial debt, operational debt, corporate person, insolvency resolution process) and write each definition in your own words.

Trace the institutional architecture - IBBI, Adjudicating Authority, NCLT/NCLAT, DRT/DRAT, insolvency professionals, insolvency professional agencies, information utilities and the Insolvency and Bankruptcy Fund - and note which section creates each body.

Distinguish financial debt from operational debt using the statutory definitions plus the time-value-of-money element, and record the distinction's consequences for triggering and committee voting.

Sequence the corporate insolvency resolution process (CIRP) stage by stage from Section 6 to Section 32A, stating the statutory timeline for each stage.

Explain the triggers under Sections 7, 9 and 10, identifying who may file, the default threshold, the evidence required and the differences in admission mechanics.

Describe the role, duties and immunities of the interim resolution professional and the resolution professional, including the Section 20 management takeover and Section 25 duties.

Outline the constitution and voting mechanics of the committee of creditors, including the Section 24 thresholds and the concept of the dissenting financial creditor.

Analyse resolution plan preparation and approval under Section 30 and Section 31, including the minimum contents a plan must satisfy and the grounds for rejection.

Summarise the Supreme Court's reasoning in the Essar Steel and K. Sashidhar lines on committee commercial wisdom and judicial review limits, in your own words.

Explain Section 29A ineligibility criteria and apply them to at least five hypothetical bidders, deciding eligibility for each.

Describe the treatment of avoidable transactions under Sections 43, 45, 49 and 66, distinguishing preferential, undervalued, extortionate-credit and fraudulent trading transactions.

Explain liquidation under Chapter III, covering the Section 33 order, the Section 36 liquidation estate, Section 53 waterfall and Section 52 secured creditor option.

Compare voluntary liquidation under Chapter V with compulsory liquidation, listing the section-by-section conditions.

Describe the fast-track corporate insolvency resolution process and the pre-packaged insolvency resolution process, noting eligibility and procedural differences from ordinary CIRP.

Set out the individual and partnership insolvency framework under Part III, including fresh start, insolvency resolution process and bankruptcy stages.

Summarise the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, clause by clause for the chapters on public announcement, claims, committee conduct and resolution plan.

Explain the Insolvency Professionals Regulations, 2016 and the model code of conduct, listing the core duties, record-keeping obligations and disciplinary exposure of an IP.

Describe the Information Utilities Regulations, 2016 and the Insolvency Professional Agencies Regulations, 2016, focusing on registration conditions and information-flow obligations.

Summarise the Liquidation Process Regulations, 2016 and the Voluntary Liquidation Process Regulations, 2017 with their key timelines and reporting requirements.

Explain the examination structure and registration pathway for limited insolvency examination candidates, including eligibility, syllabus weighting and the pass criteria as you understand them.

Identify the behavioural and ethical standards an IP must meet when facing conflicts of interest, and draft a reasoned response to three conflict scenarios.

Apply the avoidance-transaction provisions to numerical fact patterns involving related parties and look-back periods.

Rehearse drafting an application under Section 7 and a resolution plan summary, focusing on structure and precision of language.

Consolidate case law by writing one-paragraph holdings for at least 15 leading judgments you have verified from primary sources, noting the section each interprets.

Reconcile the Code with the Companies Act, 2013, the SARFAESI Act, 2002, the Recovery of Debts Act, 1993 and the Arbitration and Conciliation Act, 1996 on overlapping points of priority and moratorium.

Identify the amendments to the Code you have verified as current and state the practical effect of each.

Audit your weakest three topics from weeks 1 to 6 and rewrite your own notes for each from scratch.

Complete two full-length timed mock examinations under exam conditions and score them against the official answer key structure.

Categorise every mock error by cause (knowledge gap, misread, timing) and close each knowledge gap with a targeted note.

Recite from memory the statutory timelines, thresholds and voting percentages that recur across the Code and regulations.

Produce a one-page final revision sheet covering only your residual weak points.