CS Professional · June 2026 · Paper 7.5
CS Professional Insolvency and Bankruptcy - Law and Practice June 2026: paper analysis
Our own analysis of the official paper, as of 12 October 2026. The questions and answers belong to ICSI; read them on ICSI's website.
Chapter-wise marks
Where the marks were in this paper (out of 100; internal-choice alternatives not double counted).
What each question tested
In our words, by question number. Open the official paper for the full question.
| Q | Marks | Tests | Chapter |
|---|---|---|---|
| 1(a) | 5 | Limitation period for a financial creditor application and when time starts to run | Adjudication and Appeals for Corporate Persons |
| 1(b) | 5 | Whether a balance sheet entry with a caveat on interest is a valid acknowledgment of debt under the Limitation Act | Adjudication and Appeals for Corporate Persons |
| 1(c) | 5 | Whether part payments exceeding principal extinguish financial debt, and appropriation towards interest first | Corporate Insolvency Resolution Process |
| 1(d) | 5 | Whether the beneficial nature of the IBC relaxes the law of limitation | Adjudication and Appeals for Corporate Persons |
| 1(e) | 5 | Whether a dispute on existence of financial debt is a ground to resist admission of a financial creditor application | Corporate Insolvency Resolution Process |
| 2(a) | 10 | Matching landmark IBC judicial principles to the correct case references | Introduction to Insolvency and Bankruptcy Code |
| 2(b) | 5 | Use of Article 142 to order liquidation after a failed resolution plan and suggested systemic reforms | Liquidation of Corporate Person |
| 2(c) | 3 | Fit and proper criteria for registration as an insolvency professional | Professional and Ethical Practices for Insolvency Practitioners |
| 2(e) | 2 | Proving a security interest without information utility records in voluntary liquidation | Voluntary Liquidation of Companies |
| 3(a) | 10 | Identifying which assets form part of the liquidation estate and which are excluded | Liquidation of Corporate Person |
| 3(b) | 3 | Grounds and actions available to IBBI against an insolvency professional agency | Professional and Ethical Practices for Insolvency Practitioners |
| 3(c) | 2 | Punitive measures the adjudicating authority can impose under the Code | Introduction to Insolvency and Bankruptcy Code |
| 3(d) | 2 | Meaning of control in insolvency proceedings | Introduction to Insolvency and Bankruptcy Code |
| 3(e) | 5 | Acts of a bankruptcy trustee that require prior creditor approval | Bankruptcy for Individuals and Partnership Firms |
| 3(f) | 3 | Avoidance actions against transactions detrimental to creditors | Corporate Insolvency Resolution Process |
| 4(a) | 5 | Challenging an undervalued related-party transfer before insolvency and tribunal powers to reverse it | Corporate Insolvency Resolution Process |
| 4(b) | 8 | Independence of a proposed interim resolution professional who is a former employee of the creditor, at each appellate stage | Corporate Insolvency Resolution Process |
| 4(c) | 6 | Whether pending investigations or fraud allegations justify rejecting a corporate applicant own insolvency application | Corporate Insolvency Resolution Process |
| 4(d) | 6 | Mandatory contents and eligibility requirements of a resolution plan | Resolution Strategies (Elective 7.5) |
What stood out
- The paper had only four questions of 25 marks each, with a 25 mark opening case focused entirely on limitation and acknowledgment of debt in financial creditor applications.
- Case law dominated: a 10 mark matching exercise on landmark judgments plus several scenario questions decided on precedent, so judgment recall mattered even in an open book format.
- Objective-style items carried 25 marks in total (the 10 mark matching, the 10 mark liquidation estate classification and five one-mark MCQs), a format shift from fully descriptive papers.
- Liquidation was a major area across the estate classification, MCQ caselet and Article 142 question, while CIRP admission and avoidance transactions anchored Q4.
- Individual insolvency received light coverage this session, limited to the powers of a bankruptcy trustee.
Practise the chapters that carried the marks
Corporate Insolvency Resolution Process, Liquidation of Corporate Person, Adjudication and Appeals for Corporate Persons: study guides and practice questions in the CS Professional format.