Eligibility Criteria

REGISTRATION OF INSOLVENCY PROFESSIONALS

As per Regulation 5 of INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INSOLVENCY PROFESSIONALS) REGULATIONS, 2016 [AMENDED UPTO 28-09-2022]:
Subject to the other provisions of these regulations, an individual shall be eligible for registration, if he –
(a) Has passed the Limited Insolvency Examination within twelve months before the date of his application for enrolment with the insolvency professional agency
(b) Has completed a pre-registration educational course, as may be required by the Board, from an insolvency professional agency after his enrolment as a professional member; and
(c) Has- (i) successfully completed the National Insolvency Programme, as may be approved by the Board
(ii) Successfully completed the Graduate Insolvency Programme, as May approved by the Board
[(iii) experience of - (a) ten years in the field of law, after receiving a Bachelor’s degree in law
(b) ten years in management, after receiving a Master’s degree in Management or two-year full time Post Graduate Diploma in Management or
(c) fifteen years in management, after receiving a Bachelor’s degree, from a university established or recognized by law or an Institute approved by All India Council of Technical Education or
(iv) ten years’ of experience as –
(a) Chartered accountant registered as a member of the Institute of Chartered Accountants of India,
(b) Company secretary registered as a member of the Institute of Company Secretaries of India,
(c) Cost accountant registered as a member of the Institute of Cost Accountants of India, or
(d) Advocate enrolled with the Bar Council.
[Explanation 1. - For the purposes of this regulation, only professional and managerial experience shall be considered.
Explanation 2. - For the purpose of computing,- (a) the total experience of 10 or 15 years under sub-clause (iii), there shall be included experience of any period under sub-clause (iv); (b) the total experience of 10 years under sub-clause (iv), there shall be included experience of any period under any of the items of that sub-clause.

Illustration 1 where an individual has experience of nine years under sub-clause (iii) and experience of six years under sub-clause (iv), he shall be considered having experience of fifteen years for the purposes of sub-clause (iii).

Illustration 2 Where an individual has experience of 6 years under item (a) of sub-clause (iv) and experience of four years under item (d) of sub-clause (iv), he shall be considered as having total experience of 10 years for the purposes of sub-clause (iv).]