National Law Institute University, Bhopal (NLIU)-Graduate Insolvency Program Entrance Test (NLIU-GIPET) – 2022

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Insolvency and Bankruptcy Board of India (IBBI) has approved that the National Law Institute University, Bhopal shall offer two-year Graduate Insolvency Programme (GIP) for young and bright minds having the prescribed qualification in relevant disciplines to become Insolvency Professionals (IP).

A GIP graduate will be eligible for registration as IP after qualifying the Limited Insolvency Examination. Otherwise, for registration as IP after taking Limited Insolvency Examination, a person is required to have at least ten years’ experience as CA, CS, Cost Accountant, and/or Advocate or 15 years’ experience in management. A GIP graduate, therefore, saves 10 or 15 years to become IP.

The Graduate Insolvency Program is the first of its kind for those aspiring to take up insolvency profession as a career in India and abroad and will benefit at entry level and in career growth. GIP would also provide opportunities to serve as in-house counsels or advisors to stakeholders in insolvency, liquidation, bankruptcy or turnaround processes. GIP will be of great value to those who opt to become teachers or researchers or work in media houses.

The GIP is a 24 months program, consisting of the following:

(a) An intensive residential classroom program of 12 months; and

(b) A hands-on internship program at the cutting edge of the practice for 12 months.

Eligibility Qualification

Chartered Accountant / Cost Accountant / Company Secretary / Advocate
B. A. LL. B (Hons.)/ LL. B with aggregate 50% marks
B.E. / B.Tech. with aggregate 50% marks
Post- Post-graduate with major subjects, either in Economics, Finance, Commerce, Management and Insolvency with aggregate 50% marks

Upper age limit for eligibility of admission shall be as under:

In case of General Category Candidates: 28 Years as on 1 January 2022;
In case of SC/ST/PWD Category Candidates 33 Years as on 1 January 2022;
In case of OBC (non-creamy layer) Category Candidates 31 Years as on 1 January 2022;

Admission Procedure

(i) Application shall be submitted online only, please visit https://www.admission.nliu.ac.in/ for submitting the online Application.

(ii) Application Fee – Rs. 3000/- (non-refundable).

(iii) Application Fee shall be paid only through online mode by following the process prescribed at www.nliu.ac.in: Admission-2022: “process to deposit fee online”.

(iv) The test centre for NLIU-GIPET-2022 (both the phases) shall be notified.

Pattern of Entrance Test and Selection Process

Entrance Question Paper shall have both multiple-choice questions and descriptive questions.

(i) Entrance Test shall be conducted in two phases. In the first phase, there shall be administered a question paper consisting of multiple-choice questions and descriptive questions. In the second phase, the candidates who have appeared in the first phase shall be invited for group discussion and personal interview.

(ii) The test centre shall be notified subject to the number of applicants.

(iii) The Entrance Test shall be conducted in English language only.

(iv) The maximum duration to answer the question paper shall be 120 minutes.

(v) The question paper of NLIU – GIPET -2022 shall have two sections. Section-I shall have 50 multiple-choice type questions of one mark each (four options with only one appropriate answer). Section-II consisting of 2 subjective type questions of twenty-five marks each. Question shall be from eight areas – Knowledge in the domain of Insolvency and bankruptcy, Current Affairs including General Knowledge, Legal Aptitude, Financial Aptitude, Logical Reasoning, General English, Numerical Ability and Ethics.

(vi) The group discussion and personal interview shall carry 50 marks each.

(vii) An applicant who fails to appear in phase – I or fails to appear for group discussion or fails to appear in the personal interview shall not be counted in the merit list for admission to GIP.

(viii) A combined merit list of the applicants based on performance in both the phases shall be prepared and the candidate shall be invited for admission.