PAPER 4 : THE INSOLVENCY AND BANKRUPTCY  (100 MARKS)

Objective - To develop an understanding of the Code and acquire the ability to apply such knowledge in practical situations.

Contents

The Insolvency and Bankruptcy Code, 2016 covers references of Significant Rules and Regulations:

1 Introduction: Covering the Journey of Development of the Insolvency and Bankruptcy Code and its importance.

2 Preliminary: Relevant Definitions and Application of the Code.

3 Insolvency Resolutions and Liquidation for Corporate Persons: Corporate Insolvency Resolution Process, Liquidation Process, Pre-Packaged Insolvency Resolution Process, Fast Track Corporate Insolvency Resolution Process, Voluntary Liquidation of Corporate Persons, Adjudicating Authority for Corporate Persons.

4 Insolvency Resolution and Bankruptcy for Individuals and Partnership Firms: Preliminary

(Application & Definitions), Fresh Start Process, Insolvency Resolution Process, Bankruptcy Order for Individuals & Partnership Firms, Administration & Distribution of the Estate of the Bankrupt, Adjudicating Authority, Offences & Penalties.

5 Regulation of Insolvency Professionals, Agencies and Information Utilities: The Insolvency and Bankruptcy Board of India, Powers & Functions of the Board, Insolvency Professional Agencies, Insolvency Professionals, Information Utilities, Inspection & Investigation, Finance, Accounts & Audit.

6 Miscellaneous provisions including Forms 1-6 filed for initiation of CIRP before the NCLT, list of all rules and regulations under IBC.

7 Significant Judicial Pronouncements under Insolvency and Bankruptcy Code, 2016.

Note: If new legislations are enacted in place of the existing legislation, the syllabus would include the corresponding provisions of such new legislation with effect from a date notified by the Institute.

The specific inclusions/exclusions in the various topics covered in the syllabus will be effected every year by way of Study Guidelines if required