How to become an Insolvency Professional — your road, class by class

An insolvency professional (IP) runs the insolvency resolution or liquidation of a company or person under the Insolvency and Bankruptcy Code, 2016. IPs are registered by the Insolvency and Bankruptcy Board of India (IBBI), and passing its Limited Insolvency Examination is a mandatory condition. [4] [1]

A normal working day

• Take charge of a company in insolvency as interim resolution professional, resolution professional or liquidator.
• Collect and verify creditors' claims and run the Committee of Creditors.
• Report to the National Company Law Tribunal (NCLT) and IBBI.

Pay

IP fees and salaries are not set by an official pay scale, so none are printed.

Main routes

Time and cost

LIE fee

₹5,000 + GST = ₹5,900 per enrolment [2]

PGIP (IICA) fee

₹13.50 lakh for the 2-year residential programme, incl. boarding and lodging [3]

Hidden challenges

• Without the PGIP, you need 10 to 15 years of professional or management experience first. [1]
• LIE is tough: negative marking of 25% for each wrong answer and a 60% pass mark. [2]
• Your LIE pass counts only if you enrol with an IPA within 12 months of it. [1]

Who should not choose it

• You want a first job straight after graduation — most IPs come with a decade of experience.
• You dislike law, accounts and long legal procedures.
• You avoid hard decisions under pressure from creditors and courts.

1. You are here Class 8 · Class 9

   Reading, numbers and law

   • IBBI's exam covers the Insolvency and Bankruptcy Code, its rules and regulations, business laws such as the Companies Act, general laws, case laws and case studies. [2]

   Doubt What does an insolvency professional do?

   An IP manages the insolvency resolution or liquidation of a company or person under the Insolvency and Bankruptcy Code, 2016. IBBI registers IPs, and its Limited Insolvency Examination is a mandatory step. [4] [1]

   Next: Read the Routes list above.

2. You are here Class 10

   Any stream works

   • The routes start from a CA, CS, CMA, LLB, MBA / PGDM, B.E. / B.Tech or a bachelor's degree — no single Class 11 stream is fixed. [1] [3]

   Stream / subjects: Commerce or Arts suit CA, CS, CMA and law; Science suits B.E. / B.Tech — all can lead here.

   Doubt Which stream is best for becoming an insolvency professional?

   IBBI does not fix a school stream. Its routes start from CA, CS, cost accountancy, law, MBA / PGDM or a bachelor's degree, and the Post Graduate Insolvency Programme also admits B.E. / B.Tech graduates. [1] [3]

   Next: Choose the stream for the professional course you want first.

3. You are here Class 11 · Class 12

   Pick your first profession

   • CAs, CSs, cost accountants and advocates qualify after 10 years' experience in their profession. [1]

   Doubt Can I become an insolvency professional right after Class 12?

   No. You first need a degree or professional qualification, and then either years of experience or the Post Graduate Insolvency Programme. [1] [3]

   Next: Start with CA, CS, CMA, law, or a degree you can build on.

   Doubt Is CA or LLB better for this career?

   Both work. IBBI accepts 10 years as a CA, CS, cost accountant or advocate, or 10 years in law after an LLB. The PGIP also admits CAs, advocates, cost accountants and company secretaries. [1] [3]

   Next: Pick the one you would enjoy for ten years.

4. You are here In college

   Degree — and the PGIP option

   • IICA's PGIP 2026-28 took CAs, advocates, cost accountants, company secretaries, B.E. / B.Tech graduates and postgraduates in Economics, Finance, Commerce, Management, Insolvency or Law with 50%. [3]

   Doubt What is the Post Graduate Insolvency Programme?

   An IBBI-approved programme for students who want insolvency as a career. Finishing it makes you eligible without the years of experience the regulations otherwise ask for. [1] [4]

   Next: Check the institutes running it (IICA and others approved by IBBI).

   Doubt Can a final-year student apply for the PGIP entrance?

   Yes. IICA's GIPCET FAQ says candidates who have appeared for their final exams and are awaiting results may apply, if they submit the passing certificate by the notified date. [3]

   Next: Apply in your final year.

   Doubt Is there an age limit for the PGIP?

   For IICA's 2026-28 batch, not more than 28 years on 30 April 2026 (33 for SC / ST / PwD and 31 for OBC non-creamy layer). [3]

   Next: Apply while you are within the age limit.

   Doubt What does the PGIP cost?

   IICA charges ₹13.50 lakh for the two-year residential programme, covering tuition, boarding and lodging. [3]

   Next: Plan your finances or an education loan early.

5. You are here Graduated

   Pass the Limited Insolvency Examination

   • LIE from 1 October 2026: online, objective MCQs, 2 hours, −25% for a wrong answer, 60% to pass, on every working day at centres across India. [2]

   Exams that open here

   • Limited Insolvency Examination (Phase 10 syllabus) — Every working day from 1 Oct 2026 · book your own slot [2]

   Doubt What is the pass mark in the Limited Insolvency Examination?

   60%. A wrong answer costs 25% of the marks for that question, every question must be answered, and the test lasts 2 hours. [2]

   Next: Answer only when you are sure of the option.

   Doubt How much is the LIE fee?

   ₹5,000 plus GST, that is ₹5,900, on every enrolment. Registration on the exam portal itself is free. [2] [4]

   Next: Budget for a retake.

   Doubt When can I take the LIE?

   It runs on every working day at centres across the country. You pick the date, time and centre when you enrol on IBBI's exam portal. [2]

   Next: Book a slot when you are ready.

   Doubt Can I take notes or a bare Act into the LIE?

   No. No workbook or study material is allowed or provided, and no electronic devices, including mobile phones and smart watches, are allowed. [2]

   Next: Prepare to answer from memory.

   Doubt Does my LIE pass expire?

   You must enrol with an Insolvency Professional Agency within 12 months of passing; IBBI's regulations count only a pass in the 12 months before your enrolment application. [1]

   Next: Enrol with an IPA soon after passing.

6. You are here Working / switching career

   IPA, pre-registration course, IBBI registration

   • After passing: seek membership of an Insolvency Professional Agency, finish its 50-hour pre-registration educational course, then register as an IP. [4]

   Doubt I am a CA with 10 years' experience. What are my steps?

   Pass the LIE, enrol with an Insolvency Professional Agency within 12 months, complete its pre-registration educational course, and apply to IBBI for registration. [1] [4]

   Next: Book your LIE slot.

   Doubt Who cannot be registered as an insolvency professional?

   Among others: a minor, a person not resident in India, someone without the required qualification and experience, an undischarged insolvent, or someone convicted of certain offences — and IBBI checks that you are 'fit and proper'. [1]

   Next: Read regulation 4 of the IP Regulations before you apply.

Limited Insolvency Examination → IPA membership → IBBI registration · Insolvency and Bankruptcy Board of India

LIE

Online MCQs · 2 hours [2]

Marking

−25% per wrong answer · pass 60% [2]

Fee

₹5,900 per enrolment [2]

Pre-registration course

50 hours, through an IPA [4]

Stage table source [1] [2] [4]

Open the full exam guide

• National route: IBBI's examination, agencies and registration are the same across India. [1]

National route applies. This career follows the same rules in every state and UT.

1. IBBI — Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (amended up to 18 Sep 2023) (opens in a new tab) regulation 4 (who is not eligible) and regulation 5 (LIE within 12 months, pre-registration course, National / Post Graduate Insolvency Programme, 10 / 15 years' experience routes) · Last checked 28 Oct 2026
2. IBBI — Press Release IBBI/PR/2026/13 (1 Jul 2026): syllabus for Phase 10 of the Limited Insolvency Examination, w.e.f. 1 Oct 2026 (opens in a new tab) subjects and weights, online proctored MCQs on every working day, ₹5,000 + GST = ₹5,900 per enrolment, 2 hours, all questions to be answered, −25% for a wrong answer, 60% to pass · Last checked 28 Oct 2026
3. IICA — Post Graduate Insolvency Programme Common Entrance Test (2026-2028): FAQs (opens in a new tab) GIPCET eligibility (CA, advocate, CMA, CS, B.E. / B.Tech, postgraduates in listed subjects with 50%), final-year candidates, age 28 on 30 Apr 2026 (33 SC / ST / PwD, 31 OBC-NCL), 100 MCQs, English only, GD + interview, 52 seats, course from 1 Jul 2026, ₹13.50 lakh for two years · Last checked 28 Oct 2026
4. IBBI — FAQs on the Limited Insolvency Examination (w.e.f. 1 Mar 2022) (opens in a new tab) LIE as a mandatory condition for registration, free registration on the exam portal, enrolment and slot booking, Graduate Insolvency Programme without experience, steps after passing (IPA membership, 50-hour pre-registration course, registration) · Last checked 28 Oct 2026
5. SCERT Nagaland — NMMSS Examination 2027 advertisement (27 Jul 2026) (opens in a new tab) Class 8 eligibility, 55% / 50% Class 7 marks, ₹1,000 a month from Class 9 to 12 (one state's notice of the central scheme) · Last checked 24 Oct 2026
6. Ministry of Education — PM-USP Central Sector Scheme of Scholarships guidelines (2022-23 onwards), copy hosted by NIT Kurukshetra (opens in a new tab) 80th percentile, ₹4.5 lakh income, regular degree only, no other scholarship, ₹12,000 / ₹20,000 rates, renewal rules · Last checked 24 Oct 2026
7. Ministry of Social Justice & Empowerment — Post Matric Scholarship for SC students, guidelines 2020-21 to 2025-26 (copy hosted by Goa Social Welfare) (opens in a new tab) ₹2.5 lakh income limit, fees + academic allowance, no pre-payment of fees, CA/ICWA/CS students covered · Last checked 24 Oct 2026

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