CS Professional Insolvency and Bankruptcy - Law and Practice PYQ June 2026: Question Paper and Available Answers
CS Professional
5 - Insolvency and Bankruptcy - Law and Practice
PYQS Series
June 2026
42 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Professional 5 - Insolvency and Bankruptcy - Law and Practice PYQS (June 2026). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Phoenix Asset Management Ltd. (Phoenix) is an asset reconstruction company registered under the applicable laws of India. It acquired, by way of an assignment agreement, the outsta
- Phoenix Asset Management Ltd. (Phoenix) is an asset reconstruction company registered under the applicable laws of India. It acquired, by way of an assignment agreement, the outsta
- Phoenix Asset Management Ltd. (Phoenix) is an asset reconstruction company registered under the applicable laws of India. It acquired, by way of an assignment agreement, the outsta
- Phoenix Asset Management Ltd. (Phoenix) is an asset reconstruction company registered under the applicable laws of India. It acquired, by way of an assignment agreement, the outsta
- Phoenix Asset Management Ltd. (Phoenix) is an asset reconstruction company registered under the applicable laws of India. It acquired, by way of an assignment agreement, the outsta
- NCLT and NCLAT cannot judicially innovate beyond the framework of the Insolvency and Bankruptcy Code while dealing with schemes of compromise and arrangement.
- Timelines for submission of claims are directory, not mandatory. Delay alone cannot justify rejection of statutory dues; RP must verify and include them.
- Development rights are valuable commercial rights falling within the wide definition of "property" under Section 3(27) and are assets of the Corporate Debtor and are to be included
- Section 327(7) of the Companies Act excluding application of Sections 326 & 327 are not arbitrary.
- Section 7 application beyond three years from NPA is barred by limitation.
- The Corporate debtor is a statutory corporation and not Government. The dues are not payable into consolidated fund and hence cannot be treated as "Government dues" and as such the
- All creditors (including Central and State Government or local authorities are bound by a resolution plan once approved under Section 31(1).
- RERA decrees do not affect creditor classification. Claims of decree-holding homebuyers remain financial debts under IBC, entitled to parity in resolution plans.
- The Liquidator is bound to adjudicate and verify each and every claim based on evidence of work performed during CIRP and entitlement is not automatic.
- Payment of settlement amount during moratorium is not a violation of Section 14. It extinguishes liability and preserves value as Section 14 is meant to prevent dissipation of asse
- How did the Supreme Court perceive Article 142 of the Constitution to order liquidation and what were the broader systemic reforms it suggested in the case of State Bank of India &
- Mr. Bikram Kumar applied to the Insolvency and Bankruptcy Board of India (IBBI) for registration as an Insolvency Professional. During scrutiny, the Board discovered that Mr. Bikra
- Aarna Ltd. (Company) is engaged in the manufacturing of Sponge Iron, IMT bars and Galvanized wires. It has availed various credit facilities from a total of 9 secured creditors wit
- Aarna Ltd. (Company) is engaged in the manufacturing of Sponge Iron, IMT bars and Galvanized wires. It has availed various credit facilities from a total of 9 secured creditors wit
- Aarna Ltd. (Company) is engaged in the manufacturing of Sponge Iron, IMT bars and Galvanized wires. It has availed various credit facilities from a total of 9 secured creditors wit
- Aarna Ltd. (Company) is engaged in the manufacturing of Sponge Iron, IMT bars and Galvanized wires. It has availed various credit facilities from a total of 9 secured creditors wit
- Aarna Ltd. (Company) is engaged in the manufacturing of Sponge Iron, IMT bars and Galvanized wires. It has availed various credit facilities from a total of 9 secured creditors wit
- ANC Bank Ltd. filed a claim before the Liquidator of XYZ Pvt. Ltd., asserting itself as a secured creditor with a charge over the company's immovable property. The Liquidator quest
- An IT services company has outstanding invoices worth ₹ 8 crores from various clients for software development services already delivered.
- A pharmaceutical company owns several patents for drug formulations, registered trademarks for its brand names, and proprietary manufacturing processes developed in-house and regis
- A stockbroking firm has deposited shares as collateral margin with a clearing corporation (like NSE Clearing Ltd.) to settle trades on behalf of multiple clients.
- A steel manufacturing company owns blast furnaces, rolling mills, and heavy machinery worth ₹ 50 crores, all of which are registered in the company's name and fully paid for.
- Sharma is a 30% shareholder of an insolvent private limited company. He owns a personal apartment and a car registered in his own name, purchased from his personal savings.
- A diversified conglomerate holds a 25% stake in an associate company, PQR Ltd., which is neither a subsidiary nor controlled by it. It also holds mutual fund units and fixed deposi
- A logistics firm has taken 20 trucks on a long-term lease from a vehicle rental company with usage rights being conferred on the lessee.
- ABC Ltd., a holding company in India, is undergoing liquidation. It owns 80% of the shares of XYZ Pvt. Ltd. Bengaluru and also 60% of Global Tech Inc., San Jose, USA.
- A construction company owes ₹ 1 crore to a cement supplier. However, the cement supplier also owes ₹ 40 lakhs to the construction company for a separate warehousing contract.
- A hospitality company owns a five-star hotel building and the land on which it stands, both registered in the company's name.
- Guardian Insolvency Professional Agency ("Guardian") obtained its certificate of registration from the Insolvency and Bankruptcy Board of India ("Board") by submitting falsified co
- What are the punitive measures that can be administered by the Adjudicating Authority under the Code?
- Define the term 'Control' in the context of insolvency proceedings.
- Rajesh Kumar, a textile merchant, was adjudicated bankrupt following insolvency proceedings. Anand was appointed Bankruptcy Trustee to administer the estate. Upon assuming office,
- Explain briefly on "Actions to avoid acts detrimental to creditors."
- PQR Manufacturing Limited, a company engaged in the production of industrial equipment, defaulted on its financial obligations and insolvency proceedings were initiated against it
- A public sector bank, acting as a financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 before the National Company Law Tribunal seek
- Omega Infotech Private Limited, a corporate debtor, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvenc
- "A resolution application may submit a resolution plan along with an affidavit stating that he is eligible under section 29A to the resolution professional prepared on the basis of
How to Prepare for CS Professional 5 - Insolvency and Bankruptcy - Law and Practice
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