Insolvency and Bankruptcy Board of India

Subject: Status note on Limited Insolvency Examination – From 1st July, 2017 to
31st October, 2017

The First Phase of the Limited Insolvency Examination was conducted from 31st
December, 2016 to 30th June, 2017. The Second Phase of the Limited Insolvency Examination
has been launched with revised syllabus w.e.f. 1st July, 2017 for a period of 6 months. This note
presents a brief analysis of the performance of the candidates till 31st October, 2017 in the said
second phase of the examination.
(1) Enrolment and attempts
(i) Till 31st October, 2017, 2306 candidates had enrolled for 4307 attempts out of which
508 candidates did not appear for the examination. A total of 3151 attempts were
made by 1798 candidates, who appeared in the examination. Total 600 (19.04% of
1798) of these attempts were successful. The performance of candidates in the
Limited Insolvency Examination is summarised in Illustration 1.
Illustration 1

Successful and Unsuccessful Attempts

19%

81%

Successful Unsuccessful

(ii) Out of the 5991 (33.3% of 1798) successful candidates, who did pass the
examination, 284 (47.4%) cleared the examination in first attempt, and 171 (28.5%)

1
One candidate passed twice.
 passed the examination in either 2nd attempt. 67 passed in 3rd attempt (11.2%).
77 passed in 4th or more attempts (12.8% ) candidates took four or more attempts to
clear the examination. A chart showing successful candidates by number of
attempts is shown as Illustration 2.
Illustration 2

Successful Candidates by Number Of

284
Attempts Taken
300

250

200 171

150

100 77
67
50

0
First Second Third Fourth or More

(iii) 1198 candidates appeared in the examination but could not clear the examination
yet, out of which 822 ( 68.6%) did not appear after first attempt and only around
12.8% appeared more than twice. A chart showing number of unsuccessful
candidates by number of attempts is shown below as Illustration-3.
Illustration-3

Unsuccessful Candidates by Number of

Attempts Taken
900 822
800
700
600
500
400
300 224
200
86 67
100
0
First Second Third Fourth or More

(2) Score-wise Analysis

An analysis of number of marks scored by these 1798 candidates has also been carried out.
More than 70% of the candidates have scored between the range of 40 and 80 marks. 46.6% of
candidates have scored between the range of 50 to 70 marks. A chart showing performance of
candidates marks wise is shown as Illustration 4.
Illustration 4

Mark-wise Analysis of Candidates

600
512
500

400 348
327
283
300

200 160

86
100 64
17 1
0
<10 10-20 20-30 30-40 40-50 50-60 60-70 70-80 80-90

(3) Regionwise Analysis:

A total 1798 candidates appeared from 102 cities, and more than 60% of the candidates
appeared from a metro centre. Except South Zone, majority of candidates took the
examination from a test centre located in a metro city. Even with variation in number of
candidates appearing for the examination, the percentage of candidates passing the
examination is fairly uniform over the regions as has been illustrated in Illustration 5.

Illustration 5

Region-wise Analysis
500 70.00
450
60.00
400
350 50.00
300 40.00
250
200 30.00
150 20.00
100
10.00
50
0 0.00
North Zone East Zone West Zone South Zone

Metro Non-Metro Pass %

(4) Combined Analysis of Phase 1 and Phase 2 (till 31stth October) of the Examination
If data of phase 1 and phase 2 (till 31th October, 2017) of the examination is considered
together, then we find that 4771 candidates enrolled for 11213 attempts. A total of 8480
attempts were made by 3993 candidates, out of which 1799 (21.21% of 8480) attempts have
been successful.

2. The examination committee constituted to steer the examination in its meeting dated
10th October, 2017 considered in detail feedback on syllabus of limited insolvency examination
from IPs who were undertaking transactions under the IBC, and also, held a session with IPAs.

3. It was considered that the IPs through limited insolvency examination are qualified
professionals with adequate knowledge of IBC and related laws, but job of IPs require many
soft skills as they have to manage the company, chair the committee of creditors meeting and
plead before adjudicating authorities.

4. The committee recommended that the examination may considered to be conducted in

two stages. Stage 1 of the examination may consist of Multiple Choice Questions as it is
presently being followed. Stage 2 may consist of a Group Discussion which may be held at
selected locations. Only candidates who clear the Stage 1 of the examination would be eligible
for the Stage 2 of the examination. The Group Discussion may be based on one of the case
studies that will be provided to the candidates beforehand. A consultation paper on the same
lines was prepared and put in public domain for feedback.