CS Professional Paper 7.5 Concept and Faculty Notes

CS Professional Paper 7.5 Concept and Faculty Notes 2026 – Insolvency and Bankruptcy – Law & Practice

CS Professional Paper 7.5 Concept and Faculty Notes help students to understand the underlying principle of Insolvency and Bankruptcy. The faculty notes make the understanding of the subject easier.
These notes are meant to be used together with the official ICSI study material, all relevant amendments, etc., so as to obtain a concise understanding of the subject for examination purposes.

Frequently Asked Questions

1. Which topics should students focus on in Paper 7.5?

Students should revise the Insolvency and Bankruptcy Code, CIRP, liquidation, insolvency professionals, creditor-related provisions and other topics prescribed in the applicable syllabus.

2. Are concept notes sufficient for CS Professional Paper 7.5?

No. Concept notes should be used alongside the prescribed ICSI study material, applicable statutory provisions, relevant amendments and examination practice.

3. How do faculty notes help with case-based questions?

Faculty notes may explain how to identify legal issues, select relevant provisions, apply the law to the facts and formulate a reasoned conclusion.

4. Should students update faculty notes with the latest amendments?

Yes. Students should verify amendments and regulatory updates through official ICSI supplements and relevant legal sources before incorporating them into their notes.

5. How can students revise Paper 7.5 concepts effectively?

Students can use topic-wise summaries, flowcharts, comparison tables, active recall and previous year questions to reinforce their understanding.

6. Where can students find official study resources for Paper 7.5?

Students can visit the ICSI Professional Programme Academic Portal, official supplements page and previous session question papers page.

7. Why is the Corporate Insolvency Resolution Process important in Paper 7.5?

CIRP is a key insolvency procedure. Students should understand its stages, relevant stakeholders, applicable requirements and the responsibilities of professionals involved in the process.

8. How should students prepare for questions on liquidation?

Students should revise the applicable legal provisions, the role of the liquidator, asset realisation and distribution procedures, and practise applying these concepts to examination-style questions.

9. How does liquidation differ from the Corporate Insolvency Resolution Process?

CIRP primarily aims to resolve a corporate debtor's financial distress through a resolution plan. Liquidation generally involves realising the debtor's assets and distributing the proceeds according to the

applicable legal framework when liquidation is initiated.

10. What is the role of the Insolvency and Bankruptcy Board of India (IBBI)?

The IBBI regulates insolvency professionals, insolvency professional agencies and information utilities within its statutory framework. It also issues regulations and oversees relevant aspects of India's

insolvency and bankruptcy ecosystem.

11. What is the role of the Committee of Creditors in insolvency resolution?

The Committee of Creditors evaluates resolution proposals and makes decisions on matters assigned to it under the IBC. Its role is important in determining whether a viable resolution plan can be

approved in accordance with applicable legal requirements.