How to Become an Insolvency Professional
The exam is step one of five. Here's the whole route to an IBBI registration, with the deadlines that connect them.
An insolvency professional (IP) is the person who runs a company's insolvency process under the Insolvency and Bankruptcy Code, 2016: as interim resolution professional, resolution professional or liquidator. Only individuals registered with the Insolvency and Bankruptcy Board of India (IBBI) can take these assignments.
As on 30 June 2026, IBBI had 4,359 individual IPs on its register. Every one of them got there through the same route, set out in regulation 5 of the IBBI (Insolvency Professionals) Regulations, 2016, and the Limited Insolvency Examination is its first step.
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The Five Steps to IP Registration
- 1
1. Check you qualify
Confirm you meet one of the experience or programme routes in regulation 5(c) (table below) and none of the disqualifications in regulation 4.
- 2
2. Pass the Limited Insolvency Examination
65 MCQs, 2 hours, 60% to pass, booked online and taken at a test centre. IBBI issues a pass certificate within 30 days.
- 3
3. Enrol with an IPA within 24 months
Join one of the three insolvency professional agencies as a professional member: IIIP of ICAI, ICSI Institute of Insolvency Professionals, or the IPA of the Institute of Cost Accountants of India. Your exam pass must be within 24 months before this application.
- 4
4. Apply to IBBI through the IPA
File the application for registration in Form A, Part II, through your IPA, with a non-refundable fee of ₹20,000 to IBBI.
- 5
5. Complete the 50-hour pre-registration course
Take the pre-registration educational course run by your IPA, within 12 months of paying the application fee. IBBI then decides on registration.
Regulation 5(c): The Qualifying Routes
You need one of these, in addition to the exam pass and the course.
| Route | Requirement |
|---|---|
| Chartered accountant | 10 years' experience as a member of ICAI |
| Company secretary | 10 years' experience as a member of ICSI |
| Cost accountant | 10 years' experience as a member of ICMAI |
| Advocate | 10 years' experience, enrolled with a Bar Council |
| Law graduate | 10 years in the field of law after an LLB |
| Management postgraduate | 10 years in management after a master's in management or a two-year full-time PGDM |
| Graduate | 15 years in management after a bachelor's degree |
| Post Graduate Insolvency Programme | Successful completion of the IBBI-approved programme |
How the Experience Is Counted
- check_circleOnly professional and managerial experience counts.
- check_circlePeriods can be combined: experience as a CA, CS, CMA or advocate counts towards the 10- or 15-year law and management routes.
- check_circleExperience across the four professional routes adds up too. Six years as a CA plus four as an advocate makes 10.
- check_circleThe degree must be from a university established or recognised by law, or an AICTE-approved institute.
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The Route Without the Experience: PGIP
The Post Graduate Insolvency Programme (renamed from Graduate Insolvency Programme in July 2023) is IBBI's route for people who want insolvency as a first career. IBBI's FAQ says a student who completes it can take the exam without waiting to build the experience otherwise required.
According to IBBI's April-June 2026 newsletter, three institutes are approved for it, and it is currently run by the Indian Institute of Corporate Affairs (IICA) and National Law University, Delhi. 51 IPs had registered through this route by 30 June 2026.
Regulation 5 also mentions a National Insolvency Programme. IBBI's FAQ says it has not been notified yet.
Mind the Clocks
Your exam pass is usable for 24 months, and the 50-hour course must be finished within 12 months of paying the IBBI application fee. Sitting the exam years before you have the experience wastes the pass.
After Registration
- Authorisation for Assignment (AFA)
- Registration alone is not enough to take an assignment. An IP also needs an AFA from their IPA. IBBI's newsletter notes an IP is eligible for one only until the age of 70.
Becoming an IP: Common Questions
Is the IBBI exam the same as the insolvency professional exam?expand_more
Yes. The Limited Insolvency Examination is the exam IBBI requires for registration as an insolvency professional. People search for it as the IBBI exam, the IP exam or the insolvency professional exam.
Can a fresh CA become an insolvency professional?expand_more
Not straight away through the CA route: it needs 10 years' experience as a member. The Post Graduate Insolvency Programme is the route that does not require that experience.
Does NISM conduct the IBBI exam?expand_more
No. IBBI conducts the Limited Insolvency Examination through its test administrator, NSEIT Limited. NISM is the test administrator for IBBI's separate Valuation Examinations for registered valuers.
How many insolvency professionals are there in India?expand_more
4,359 individuals were registered as IPs with IBBI as on 30 June 2026, according to IBBI's quarterly newsletter.
Check Before You Apply
IBBI revises the fee, syllabus and exam rules from time to time and announces each change on its Limited Insolvency Examination page. Confirm the latest there before you book or pay.
Next steps
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