Pre-registration educational course under regulation 5(b) of the IBBI (Insolvency Professionals) Regulations, 2016 - IBC - IPA/011/2018

Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 Circular No. IPA/011/2018 23rd April, 2018 To All Registered Insolvency Professional Agencies (By mail to registered email addresses and on the website of the IBBI) Dear Madam / Sir, Subject: Pre-registration educational course under regulation 5(b) of the IBBI (Insolvency Professionals) Regulations, 2016 In terms of the IBBI (Insolvency Professionals) Regulations, 2016, an individual is eligible for registration as an insolvency professional, subject to meeting other requirements, if he has completed a pre-registration educational course, as may be required by the Board, from an insolvency professional agency (IPA) after his enrolment as a professional member. 2. In consultation with IPAs, the IBBI hereby specifies the details of pre-registration educational course to be conducted by them as under: Sl. No Coverage Time (Hours) 1 Insolvency and Bankruptcy Reforms Report of the Bankruptcy Law Reforms Committee Report of the Joint Committee of the Parliament Report of the Insolvency Law Committee Legislative Guide on Insolvency Law of UNCITRAL 2 2 Drafting and Filing of Applications for initiation of CIRP on behalf of: Financial Creditor Operational Creditor Corporate Debtor Drafting and Filing of other Miscellaneous Applications Case Laws relating to Admission for CIRP 2 3 Familiarisation with Forms and Formats under: Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 IBBI (Liquidation Process) Regulations, 2016 IBBI (Voluntary Liquidation) Regulations, 2017 IBBI (Inspection and Investigation) Regulations, 2017 IBBI (Grievances and Complaint Handling Procedure) Regulations, 2017 2 4 Taking over the Corporate Debtor as IRP / RP Finance Labour Security Essential Services Litigations 2 5 Managing the Corporate Debtor Going Concern as IRP / RP Interim Finance Statutory Compliances 3 6 Claims with Examples Verification Rejection Disputed Claims Contingent Claims Appeals Constitution of CoC 2 7 Conduct the first meeting of the CoC and Subsequent Meetings Notices Invitation Agenda Meeting Video Meeting Voting E-Voting Minutes 3 8 Appearance before Adjudicating/Appellate Authority 2 9 Witness the Proceedings before NCLT NCLAT 4 10 Detection and Filing for Preferential Transactions Undervalued Transactions Fraudulent Transactions Extortionate Credit Transactions Forensic Audit 2 11 Moratorium Essential Services Proceeding against Guarantor Assets of Guarantor to Corporate Debtor Case Laws 1 12 Fees and Expenses Fee as IRP / RP Insurance Valuers and Other Professionals Other Expenses 2 13 Information Memorandum Preparation Modification Circulation Access 2 14 Invitation of Resolution Plans EoI RFP Data Room Evaluation Matrix 3 15 Eligibility for Resolution Applicants Commercial Antecedents Section 29A 3 16 Resolution Plan Mandatory Content Contravention of Other Laws Dues of Stakeholders Case Laws Approval by CoC Filing before Adjudicating Authority Managing Corporate Debtor Post Approval of Plan 3 17 Liquidation Process Initiation of Liquidation Powers and Duties of Liquidator Preparation of Liquidation Estate Manner and Mode of Sale of Assets Waterfall on Distribution of Assets Dissolution of Corporate Debtor 4 18 Disciplinary Aspects IBBI (Inspection and Investigation) Regulations, 2017 IBBI (Grievances and Complaint Handling Procedure) Regulations, 2017 IBBI (Insolvency Professionals) Regulations, 2016 2 19 Governance Code of Conduct Ethics Professional Standards Conflict Management Anti-Bribery and Anti-Corruption policies Disclosures 3 20 Management Leadership Communication Negotiation Personality 3 Total 50 3. The pre-registration educational course shall be delivered by the IPAs in not less than 50 hours either in class room sessions or in MOOCS environment. The participants must have opportunity to do the tasks themselves in a near-real environment with practical examples. 4. This pre-registration educational course will be reviewed on 31st March, 2019. 5. This circular is issued in exercise of powers under section 196 of the Insolvency and Bankruptcy Code, 2016 read with regulation 5(b) of the IBBI (Insolvency Professionals) Regulations, 2016. Yours faithfully, (Debajyoti Ray Chaudhuri) Chief General Manager Email: [email protected]