IBBI limits the frequency of attempts in Limited Insolvency Exam/Valuation Exams

Circular No. EXAM-13016/1/2022-IBBI, Dated: 06.06.2022

In order to bring in objectivity and improvements in the scheme of the above examinations, the IBBI has decided that the frequency of attempts in Limited Insolvency Examination (LIE) or valuation examination, as the case may be, for every candidate, shall be determined after taking into account a cooling-off period of 2-months between each consecutive attempts of such candidate, thereby making a total of 6 attempts in a period of 12 months. The scheme will be effective after the expiry of 3 months from 06.06.2022.

IBBI conducts the Limited Insolvency Examination (LIE) in pursuance to regulation 3 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. The said Regulations inter-alia empowers IBBI to determine, the syllabus, format, and frequency of the examination, to be published at least three months before the examination.

The IBBI, as the designated Authority, also conducts Valuation Examinations in terms of rule 5 of the Companies (Registered Valuers and Valuation) Rules, 2017(Valuation Rules). The said rule inter-alia empowers the IBBI to determine the syllabus, format, and frequency of the examination, to be published at least three months before the examination.

Click Here To Read The Full Circular