1. Is the Examination pattern changed from 1st July, 2018?

The test administrator for the Limited Insolvency Examination has changed from NISM to NSEIT. The syllabus and pattern of the examination remains the same. The candidates who have already enrolled for examination will be refunded their examination fee by NISM. The candidates have to register with the new test administrator free of cost and may enrol for examination by paying the fee.

2. Is this examination mandated under any law and for what purpose?

Yes. This examination is mandated under the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 made under the Insolvency and Bankruptcy Code, 2016. It is one of the mandatory conditions for registration as an insolvency professional with the Insolvency and Bankruptcy Board of India (IBBI).

3. What are the eligibility criteria to sit for the examination?

There are no eligibility criteria for appearing in the examination. However, please be informed that registration as Insolvency Professional will be governed by the regulations in force at the time of consideration of an application for registration as Insolvency Professional.