IBBI CHANGED THE FREQUENCY OF ATTEMPTS IN LIMITED INSOLVENCY EXAMINATION AND VALUATION EXAMINATIONS
IMPROVEMENT TO THE SCHEME OF EXAMINATIONS
WITH EFFECT FROM 06/09/2022
NEW DELHI 06/06/2022 (TECHNO NEWS): Insolvency and Bankruptcy Board of India, Limited Insolvency Examination Division, Valuation Examinations Division issued a circular No. EXAM-13016/1/2022-IBBI Dated: 06th June 2022 to All Test Administrators, All Insolvency Professional Agencies, All Registered Valuer Organisations, All candidates registered in the examination system (Through IBBI website) on the Subject: Improvement to the scheme of examinations – frequency of attempts in Limited Insolvency Examination/ Valuation Examinations.
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.
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, to be published at least three months before the examination.
In order to bring in objectivity and improvements in the scheme of the above examinations, it has been decided that the frequency of attempt in a 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. ………………
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