Cracking Limited Insolvency Examination

This was first attempt. I studied about 120 hours. But after lot of discussion with many who attempted it with or without success, in first attempt. I made strategy and changed it slightly just 20 study hours before examination on advice.

Last advice I received was not to try too much question. Due to negative marking you should touch your most positive questions. We should care positivity more, if negativity surround.

In first round of 70 minutes, I read all questions and answered most sure one. I marked all other questions for review. In second round of 20 minutes, I reviewed all marked questions and decided not to attempted most of them. Now, out of my target of 70 out of 90, I did only 69 questions.  Now, in final round of 30 minutes, I reviewed all questions once. This did the trick.

But, passing this examination or any examination is not about tricks only. In an examination with multiple choice questions coupled with negative marking need concentration of minor details. Section numbers, penalties, imprisonment, rules, regulations, timelines, definitions and case laws are just a few critical points. No model paper can cover all these in a comprehensive manner. You have to study from original sources. I read law directly from bare published by ICSI – Insolvency Professional Agency.

With age, we may loss our memory and become adamant. Experience usually comes with overconfidence. When new law come into statute books, it changes rule of game more dramatically than we understand.

I was well advised to focus 90% on 60% of syllabus to be covered. I revised all old laws in syllabus in first day of my preparation not to touch again. I cannot memorise all these minor details missed earlier. This was time to focus on new law – the king of the examination concerned. I noted down all possible minor details and left confusing details for practical life outside this examination.

In professional life and examination you cannot take risk with your time. I enrolled for back to back three attempts spread over two weeks. There was another risk for me, the syllabus is about to be revised from fourth week. My failure may require me to cover more diversification and enrichment in new syllabus.

I am indebted to all my family, seniors, critics, friends, relatives and well wishers.

I am thankful to following person more directly for this success, in alphabetical order –

Hari Babu Thota
Jinesh Kulshreshtha
Lakshmi Arun
Prabhjit Singh Soni
RajKumar S Adukia

Rakesh Kumar Jain



12 responses to “Cracking Limited Insolvency Examination


    Dear Sir,

    Why this examination is exclusively for Professionals ?

    Why can’t it is open for Bankers and retired Bankers who have vast expertise in credit area.

    The N.P.A. menance is created by few at apex level but not in middle and low level set up in Banking Industry.

    Sir, can you advice the recognised Institutes which impart Diploma/Certicate Course in G.S.T. and Auditing.


    With regards,

    S.B.H. Officer (Retd),
    HYDERABAD 500 036.

    Cell No. 0 984 933 4590.


  2. CS Nilesh Jain

    Dear Mr. Gahrana – any other material you recommend now in view of the change in syllabus and your experience.


  3. Sir thnx for providing useful information and guidance to the needful.


  4. Can a CS student get benefit from this exam? My Attempt will be in December 2018.


  5. Sir Kindly tell me from where i can get the study materials


  6. Sir is there any Mock test site


  7. sandeep khanna

    Hi can u suggest source for number of model questions in limited liability insolvancy examination?


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