IBBI Limited Insolvency Exam Study Material
No official workbook exists. The best material is the law itself. Here's where to find it, free.
IBBI does not provide or recommend any study material or workbook for the Limited Insolvency Examination. Its FAQ tells candidates to use books and other resources on the subject, and points to a study-materials section on its own website that candidates "may find useful".
That leaves you free to choose, but it also means no book is "official". The one thing every good resource shares is the source it is written from: the Code, the IBBI regulations and the judgments on the syllabus. All of those are free.
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- Case-study practice
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Free Official Sources, Mapped to the Syllabus
The Insolvency and Bankruptcy Code, 2016
Where
IBBI website, Legal Framework section
Syllabus area
Area 1 and most case studies
IBBI regulations: CIRP, Liquidation, Voluntary Liquidation, Pre-packaged, IP, Information Utilities, Fast Track
Where
IBBI website, Legal Framework section
Syllabus area
Area 2 and most case studies
The rules under the Code (e.g. individual insolvency and FSP rules)
Where
IBBI website, Legal Framework section
Syllabus area
Areas 1-2, individual insolvency case study
The 72 judgments in Annexure 1
Where
The syllabus PDF lists each with its case number
Syllabus area
Area 7 and the case studies
The Code of Conduct for IPs (First Schedule of the IP Regulations)
Where
IBBI (Insolvency Professionals) Regulations, 2016
Syllabus area
Ethics case study
Model question paper w.e.f. 1 July 2025
Where
IBBI's Limited Insolvency Examination page
Syllabus area
All areas
Glossary of abbreviations
Where
End of IBBI's LIE FAQ
Syllabus area
All areas
| What to read | Where | Syllabus area |
|---|---|---|
| The Insolvency and Bankruptcy Code, 2016 | IBBI website, Legal Framework section | Area 1 and most case studies |
| IBBI regulations: CIRP, Liquidation, Voluntary Liquidation, Pre-packaged, IP, Information Utilities, Fast Track | IBBI website, Legal Framework section | Area 2 and most case studies |
| The rules under the Code (e.g. individual insolvency and FSP rules) | IBBI website, Legal Framework section | Areas 1-2, individual insolvency case study |
| The 72 judgments in Annexure 1 | The syllabus PDF lists each with its case number | Area 7 and the case studies |
| The Code of Conduct for IPs (First Schedule of the IP Regulations) | IBBI (Insolvency Professionals) Regulations, 2016 | Ethics case study |
| Model question paper w.e.f. 1 July 2025 | IBBI's Limited Insolvency Examination page | All areas |
| Glossary of abbreviations | End of IBBI's LIE FAQ | All areas |
Use the Version of the Law the Exam Tests
IBBI tests every law as it stood on 4 February 2025. IBBI's website shows the latest version of each regulation, and commercial books are updated to their own print date. When either reflects an amendment made after 4 February 2025, learn the earlier rule for the exam. The Fast Track regulations are the clearest case: still exam-relevant, but the Code's fast track chapter they implement was omitted from 26 May 2026.
Where Books Help, and Where They Don't
A good commentary is useful for the areas IBBI covers lightly in its own material: Companies Act chapters, the Contract Act sections, SARFAESI, RERA, the SEBI regulations and finance. Pick one recent edition that covers the syllabus as IBBI lists it, and check it against the 4 February 2025 cut-off.
Books help least with case studies, which carry 70 of the 100 marks. Reading about CIRP timelines is not the same as applying them to a ten-question narrative under time pressure. That needs practice questions in the real format.
Find your weak area before you buy a book.
A Lean Study Kit
- checkThe Code and the CIRP, Liquidation and Pre-packaged regulations, printed or saved as of the cut-off date
- checkA one-page timeline sheet: every day-count in CIRP and liquidation, in order
- checkA voting-threshold sheet: which CoC decisions need 51% and which need 66%
- checkYour notes on the 72 judgments: one line each on the principle decided
- checkOne commentary for business and general laws
- checkThe IBBI model paper, kept for a timed attempt later
- checkFull-length practice tests with negative marking
IBBI Study Material: Common Questions
Does IBBI publish an official book for the Limited Insolvency Exam?expand_more
No. IBBI's FAQ says it does not provide or recommend any study material or workbook. It points candidates to a study-materials section on its website.
Is the bare Act enough?expand_more
For the Code and regulations, mostly yes: they are what the case studies test. You will still want a commentary for the business and general laws, and lots of case-study practice.
Can I take notes or books into the exam?expand_more
No. It is not an open-book exam, and IBBI allows no study material or electronic devices in the test room.
Check Before You Buy
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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