IBBI Securities & Financial Assets study guide
IBBI Securities & Financial Assets · Work through your exam, one topic at a time.
The Limited Insolvency Examination (LIE) is the qualifying examination administered under the framework of the Insolvency and Bankruptcy Board of India (IBBI), the statutory regulator established under the Insolvency and Bankruptcy Code, 2016. The exam is intended for professionals who wish to demonstrate command of India's insolvency regime - typically candidates working toward registration as insolvency professionals, and practitioners such as chartered accountants, company secretaries, cost accountants, lawyers and management graduates who advise on or participate in insolvency proceedings. The syllabus is built around the Insolvency and Bankruptcy Code, 2016 and the regulations, rules, circulars and notifications issued under it, together with related judicial and regulatory developments. Because the Board periodically revises the syllabus, candidates should confirm the syllabus version currently in force before planning study. A sound preparation strategy is to read the Code and each set of regulations in the original, then work through amendments, circulars and discussion papers in date order, and finally test recall with scenario-based questions that require applying time limits, thresholds and procedural steps rather than merely recognising definitions. Note that this page is an independent study resource; it is not affiliated with, endorsed by, or operated by IBBI, and official details should always be verified on the Board's website. Topics on this exam: Insolvency and Bankruptcy Code, 2016 and related regulations (Limited Insolvency Examination syllabus). The IBBI Securities & Financial Assets study guide has 1 section and about 468 words.
01Insolvency and Bankruptcy Code, 2016 and Related Regulations
This domain tests the corporate insolvency resolution process (CIRP), liquidation, regulation of insolvency professionals (IPs) and information utilities, and the treatment of financial and operational claims under the Insolvency and Bankruptcy Code, 2016. The NCLT is the adjudicating authority, NCLAT hears appeals, and the Supreme Court is the final appellate forum. The trigger is default of at least ₹1 lakh; a financial creditor files under s.7, an operational creditor under s.9, and a corporate applicant under s.10. CIRP must be completed in 180 days, extendable by 90 days (maximum 270) under s.12.
468 words, about 2 minMore study resources for IBBI Securities & Financial Assets
- Practice questionsUnder the Insolvency and Bankruptcy Code, 2016, which adjudicating authority has jurisdiction over the insolvency resolution process of a personal guarantor to a corporate debtor?
- FlashcardsSection 7 application. An application by a financial creditor to initiate CIRP against a corporate debtor for default of Rs 1 crore or more, filed with the NCLT under the IBC.
- Cheat sheetThe Code applies to companies, LLPs, individuals and partnerships; corporate insolvency is governed by the CIRP in Chapter II, individual/partnership insolvency by Part III, and cross-border insolvency provisions (Part IV) remain largely un-notified.
- Key termsCorporate Insolvency Resolution Process (CIRP). The time-bound, collective procedure under the Code through which a financial creditor, operational creditor, or the corporate debtor itself seeks resolution of a corporate debtor's insolvency, beginning on the admission date and ordinarily ending within 330 days.
- Study planMap the structure of the Insolvency and Bankruptcy Code, 2016 (IBC) part-by-part and chapter-by-chapter, writing a one-page outline of Parts I to V and the Schedules.
- Common mistakesCandidates study Part II (corporate) heavily and treat Part III (individuals and partnership firms) as a minor add-on, so they default to the 180/330-day CIRP clock and the corporate process triggers whenever a timeline question appears.
- Exam-day guideDownload and print the admit card or hall ticket from the examination body's portal once it is released.