Eligibility for Registration as Insolvency Professionals

As per Regulation 5 of Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018:

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) fifteen years’ of experience in management, after receiving a Bachelor’s degree from a university established or recognised by law; 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.”

Accordingly registration as insolvency professionals requires the following:

a. Passing of Limited Insolvency Examination

b. Enrolment as professional member with an Insolvency Professional Agency

c. Completion of Pre-Registration Education Course

d. Registration with IBBI