Eligibility Criteria

A. Eligibility Criteria to Register as an Insolvency Professional:

  • Chartered Accountant, Company Secretary, Cost Accountant and Advocate who has enrolled as a member of respective Institute/Bar Council and has ten years of experience [Regulation 5(c)(iv) of the IBBI (Insolvency Professionals) Regulations, 2016], or
  • A Graduate who has fifteen years of experience in management, after receiving a Bachelor’s degree from a university established or recognized by law [Regulation 5(c)(iii) of the IBBI (Insolvency Professionals) Regulations, 2016], or
  • Successfully completed the National Insolvency Programme, as may be approved by the IBBI [Regulation 5(c)(i) of the IBBI (Insolvency Professionals) Regulations, 2016], or
  • Successfully completed the Graduate Insolvency Programme, as may approved by the IBBI [Regulation 5(c)(ii) of the IBBI (Insolvency Professionals) Regulations, 2016].
And
  • has passed the Limited Insolvency Examination within twelve months before the date of his application for enrolment with the insolvency professional agency [Regulation 5(a) of the IBBI (Insolvency Professionals) Regulations, 2016], and
  • has completed a pre-registration educational course, as may be prescribed by the IBBI, from an IPA after his enrolment as professional member. [Regulation 5(b) of the IBBI (Insolvency Professionals) Regulations, 2016]

B. Limited Insolvency Examination:

C. Registration Process for Insolvency Professional is as follows:

  • Download the IIIPI Enrolment Form available at www.iiipicai.in
  • Send the Filled in Enrolment Form along with the relevant self-attested documents to Indian Institute of Insolvency Professionals of ICAI (IIIPI) with self-attested documents.
  • After completion of the Pre-registration Education Course, download the Application for Registration (Form A of the Second Schedule of the IP Regulations, 2016) available at www.iiipicai.in
  • Send the filled in Registration Form A along with the self-attested copy of the Certificate of Pre-registration Educational Course to Indian Institute of Insolvency Professionals of ICAI (IIIPI).
  • Non-refundable application fees to be paid along with the Application Form are as follows:
    • Fees to Indian Institute of Insolvency Professionals of ICAI (IIIPI)
      1. One time Enrolment Fee of Rs. 2000/- (Rupees Two Thousand only) and Annual membership fee Rs. 10,000/- (Rupees Ten Thousand only) plus GST @ 18%.
      2. Membership Fee is charged at 50% of the Annual Fee i.e. an amount of Rs. 5000/- (Rupees Five Thousand only) w.e.f. 1st October of each Financial Year along with one time Enrolment Fee of Rs. 2000/- (Rupees One Thousand only) plus GST @ 18%.
    • Fees to Insolvency and Bankruptcy Board of India (IBBI) - Rs. 10,000/- (Ten Thousand only) presently plus GST @ 18%.
    • Please note that if the fee cheque(s) submitted by the applicant is/are not cleared and returned by the Bank, the application will be liable to be rejected.
    • Separate Cheques (Local)/Demand Drafts (Payable at New Delhi) to be prepared i.e. one in favour of "Insolvency and Bankruptcy Board of India" and the other "Indian Institute of Insolvency Professionals of ICAI".
  • Address to send the duly signed hard copy of the Form is: Secretariat, Indian Institute of Insolvency Professionals of ICAI (IIIPI), 2nd Floor, Hostel Block, A- 29, Sector- 62, Noida – 201309, Phone: +91 120 3045960.
  • Applicants are requested to email (if possible) the scanned copies of Enrolment Form as well as Registration Form along with the self-attested documents at This email address is being protected from spambots. You need JavaScript enabled to view it. 

D. Annual Membership Fees of IIIPI:

  • Members enrolled with IIIPI have to pay an Annual membership fee Rs. 10,000/- (Rupees Ten Thousand only) plus applicable taxes @ 18% for each Financial Year falling due. The fees should be received by IIIPI on before 30th April every year).

 

Print Email