AUTHORITY IBBI REDUCED THE COOLING OFF PERIOD OF EXAMINATIONS FROM 2 MONTHS TO 21 DAYS FOR VALUATION & LIMITED INSOLVENCY EXAMINATIONS
NEW DELHI-19/01/2024, (TECHNO REPORTER): Insolvency and Bankruptcy Board of India in its Circular No. IBBI/EXAM/63/2024 Dated: 18th January 2024 (Circular) has Reduced the cooling-off period between two consecutive attempts in Limited Insolvency Examination and Valuation Examinations. This circular is being issued in exercise of the powers conferred under the provisions of section 196 of the Insolvency and Bankruptcy Code, 2016, Regulations made thereunder, and the Valuation Rules.
The authority IBBI conducts the Limited Insolvency Examination (LIE) in pursuance of Regulation 3 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. The said Regulations inter alia empower IBBI to determine the syllabus, format, qualifying marks, and frequency of the examination, to be published at least three months before the examination.
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 IBBI to determine the syllabus, format, and frequency of the examination including qualifying marks, to be published at least three months before the examination.
To improve the effectiveness of the exams, it has been decided by the authority to reduce the period between two consecutive attempts from 2 months to 21 days for both examinations. This adjustment provides candidates with greater flexibility and opportunities to improve, thereby establishing a more dynamic and responsive examination system.
All concerned and participants are, therefore, advised to follow the above requirements in LIE and Valuation Examinations attempted after the expiry of 3 months from the date of this circular.
The details of examinations are available on IBBI website https://ibbi.gov.in/