Insolvency and Bankruptcy Board of India
Limited Insolvency Examination Division
Valuation Examinations Division
No. EXAM-13016/1/2022-IBBI
Dated: 06th June 2022
CIRCULAR
To,
All Test Administrators
All Insolvency Professional Agencies
All Registered Valuer Organisations
All candidates registered in the examination system
(Through IBBI website)
Dear Sir/Madam
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.
2. 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.
3. In order to bring in objectivity and improvements in the scheme of above examinations, it
has been decided that frequency of attempt in an 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.
4. You are, therefore, advised to implement/ follow the above requirements in LIE/ Valuation
Examinations conducted/ attempted after expiry of the period of 3 months from the date of this
circular.
5. 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.
Yours faithfully
Sd/-
Rajesh Tiwari
General Manager
Tel: 011 2346 2864
Email: trajesh.74@ibbi.gov.in
