Model Curriculum Insolvency-Associate_11-09...Voidable Contracts and Void Agreements; Contingent...

BFSI Sector Skill Council 1

Model Curriculum

Insolvency & Bankruptcy Associate

SECTOR:: SUB-SECTOR:: OCCUPATION::

REF ID:: NSQF LEVEL::

BANKING, FINANCIAL SERVICES AND INSURANCE (BFSI) Lending, Fund Investment & Services Compliance, Legal, Internal Audit BSC/Q8202 5

BFSI Sector Skill Council

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“Insolvency & Bankruptcy Associate” QP No. ‘BSC/Q8202, NSQF Level 5’


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TABLE OF CONTENTS

1. Curriculum ..................................................................................................... 4

2. Trainer Prerequisites ..................................................................................... 8

3. Annexure: Assessment Criteria ................................................................... 9


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Insolvency & Bankruptcy Associate

Curriculum

This program is aimed at training candidates for the job of a “Insolvency & Bankruptcy Associate”, in the “BFSI” Sector/Industry and aims at building the following key competencies amongst the learner

Program Name Insolvency Associate

Qualification Pack Name & Reference ID. ID

BSC/Q8202

Version No. 1.0 Version Update Date 23/08/2017

Pre-requisites to Training

Graduation in commerce, economics, law, management or Intermediate or equivalent of C.A, CMA, CS

Training Outcomes After completing this programme, participants will be able to:

Assist insolvency professionals and other stake holders to carry out tasks during the insolvency and liquidation process

Evaluate, Verify and substantiate the claims of people

Compile the notices and other documents of claims for processing


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This course encompasses 6 out of 6 National Occupational Standards (NOS) of “Insolvency & Bankruptcy Associate” Qualification Pack issued by “BFSI”.

Sr. No.

Module Key Learning Outcomes Equipment Required

1 The Insolvency & the Bankruptcy Code 2016 Theory Duration (80:00) Corresponding NOS Code BSC/ N8204 BSC/ N8205 BSC/ N8206 BSC/ N8207

Understand the conditions under which a case can be referred under the Insolvency and Bankruptcy Code

Map the process to be followed once a Insolvency Professional is appointed

List the activities that need to be carried out by an Insolvency Professional once the case gets assigned

List the roles & responsibilities of an Insolvency Professional

Identify the timelines for the insolvency, resolution & liquidation process

List the process of sending notices to creditors

List the process of convening a creditors meeting

List the Insolvency process for admission to resolution

List the key requirements for a resolution plan to be accepted

List the conditions under which a resolution plan can get rejected

Understand the legal circumstances under which a liquidation can be ordered

List the roles and responsibilities during a liquidation process

List the legal process to be followed during tenders

List the process to be followed while auctioning assets

List the process to be followed while final settlement of claims

Know the rules and regulations for –

Application to Adjudicating

Insolvency Professional Agencies

Insolvency Professionals

Model Bye-Laws and Governing Board of Insolvency Professional Agencies

Insolvency Resolution Process For Corporate Persons

Liquidation Process

Information Utilities

Voluntary Liquidation Process

Fast Track Insolvency Resolution Process for Corporate Persons

Inspection and Investigation

White board, Marker, Overhead projector, Laptop, Internet access


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Sr. No.


2 Reading Financial Statement & Analysis Practical Duration (40:00)

Corresponding NOS Code BSC/ N8205

List down secured liabilities with the charges

List down the preliminary hierarchy of payment of creditors

Learn to read and analyse the financial statements

Make a list of related party transactions

Compare the information collected from the company with the collected public source


3 The Companies Act - 2013 Theory Duration (50:00) Corresponding NOS Code BSC/ N8204 BSC/ N8205 BSC/ N8206 BSC/ N8207

Understand in depth the following chapters of the Companies Act –

Chapter III Prospectus and Allotment of Securities

Chapter IV Share Capital and Debentures

Chapter V Acceptance of Deposits by Companies

Chapter VI Registration of Charges

Chapter VII Management and Administration

Chapter IX Accounts of Companies

Chapter XV Compromises, Arrangements and Amalgamations

Chapter XVII Registered Values

Chapter XVIII Removal of names of the companies from the register of companies

Chapter XX Winding-up of the companies

Chapter XXVII NCLT and NCLAT

The Partnership Act, 1932, and

The Limited Liability Partnership Act, 2008


4 Understanding Basic Commercial Law Theory Duration (20:00) Corresponding NOS Code BSC/ N8204 BSC/ N8205 BSC/ N8206 BSC/ N8207

Learn the Indian Contract Act with respect to –

Voidable Contracts and Void

Agreements; Contingent Contracts; Performance of Contract;

Novation, Rescission and Alteration of Contracts; Agency;

Consequences of breach of Contract; Indemnity and

Guarantee, Surety; Bailment and Pledge; Set off

The Sale of Goods Act, 1930

The Transfer of Property Act, 1882

Marker, Overhead projector, Laptop, Internet access

5 Recovery of Debt and Scrutinizing Claims Theory Duration (30:00)

Learn Corporate Debt Restructuring & Strategic Debt Restructuring

Securitisation and reconstruction of financial assets

Scrutinizing claims for their accuracy and correctness

List down the list of documents and compare it with the documents received

Marker, Overhead projector, Laptop, Internet access


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Sr. No.



Maintain records of claims received with date and time, whether claim is accepted or rejected etc.

For each claim, learn to prepare the full docket of supporting documents

6 Drafting Notices & Documents Practical Duration (30:00)


Learn to draft simple notice and demand notice

Learn to document responses and replies

Maintain record of timelines for meetings

Follow company law procedures

7 Liquidation Process Practical Duration (50:00)


List down the list of assets to be liquidated

Learn to scrutinize the documents

Learn to prepare list of claims of creditors & payments to creditors

8 Communicate effectively and achieve customer satisfaction Practical Duration (20:00) Corresponding NOS Code BSC/ N9902

Learn to communicate and listen to the customers, superiors and colleagues

Learn to maintain: positive attitude, correct body language, dress code, gestures and etiquette

Understand work output requirements, targets, performance indicators and incentives and receive feedback on work performance with positive attitude

9 Maintain integrity and ethics Practical Duration (30:00) Corresponding NOS Code BSC/ N9903

Learn how to maintain integrity of transactions and ensure data security

Learn to protect data and information related to business or commercial decisions

Demonstrate and practice ethics in day-to-day processes and dealings with customers and colleagues

Learn how to avoid defaming products and services of companies in competition

Learn to refrain from indulging in unfair trade and/or corrupt practices

Total Duration Theory Duration 180:00 Practical Duration 170:00

Unique Equipment Required: Laptop, white board, marker, projector, Internet Access

Grand Total Course Duration: 350Hours, 0 Minutes (This syllabus/ curriculum has been approved by BFSI Sector Skill Council of India)


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Trainer Prerequisites

Trainer Prerequisites for Job role: “Insolvency & Bankruptcy Associate” mapped to Qualification Pack:

Sr. No. Area Details

1 Description The Insolvency Associate will be required to assist insolvency professionals and other stakeholders in carrying out various tasks that arise during the insolvency resolution and liquidation process.

2 Personal Attributes

The individual needs to have working knowledge of various laws associated with the insolvency and bankruptcy framework. The person has to be organized, have good written and oral communication skills. The person also needs to have good computer skills with a fair knowledge of Word, PowerPoint and Excel. In addition to having problem solving skills, the individual must be self-driven and organized with his work and act with integrity when performing multiple tasks.

3 Minimum Educational Qualifications

Graduation in commerce, economics, law, management or Intermediate or equivalent of C.A, CMA, CS

4a Domain Certification

Certified for Job Role: “Insolvency & Bankruptcy Associate” mapped to QP: “BSC Q/8202”. Minimum accepted score as per SSC guideline is 70%

4b Platform Certification

Recommended that the Trainer is certified for the Job Role: “Trainer”, mapped to the Qualification Pack: “MEP/Q0102”. Minimum accepted score as per SSC guideline is 80%

5 Experience Experience preferred but not mandatory


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Guidelines for Assessment 1. Criteria for assessment for each Qualification Pack will be created by the Sector Skill Council. Each Performance Criteria (PC) will be assigned marks proportional to its importance in NOS. SSC will also lay down proportion of marks for Theory and Skills Practical for each PC. 2. The assessment for the theory part will be based on knowledge bank of questions created by the SSC. 3. Assessment will be conducted for all compulsory NOS, and where applicable, on the selected elective/option NOS/set of NOS. 4. Individual assessment agencies will create unique question papers for theory part for each candidate at each examination/training centre (as per assessment criteria below). 4. Individual assessment agencies will create unique evaluations for skill practical for every student at each examination/training centre based on this criterion. 5. To pass the Qualification Pack, every trainee should score a minimum of 70% of aggregate marks to successfully clear the assessment. 6. In case of unsuccessful completion, the trainee may seek reassessment on the Qualification Pack.

Annexure: Assessment Criteria

Assessment Criteria

Job Role Insolvency & Bankruptcy Associate

Qualification Pack BSC/ Q8202

Sector Skill Council BFSI


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Compulsory NOS Total Marks : 350

Marks Allocation

Assessable Outcome

Assessment Criteria for Outcomes Total

Marks Out Of Theory

Skills Practical

Preparing the Information Memorandum BSC/ N8204

PC1. Independently Log on to different websites and databases

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3 0 3

PC2. Navigate the website and gather details about the organisation viz. Names of Directors, Principal Officers, Registered Offices, Branch Offices, Factories with Contact Details

3 0 3

PC3. Download latest financial Statements and annual reports filed along with requisite annexures

3 0 3

PC4. Detail various secured liabilities with the charges (if any) created against the same

3 0 3

PC5. Come up with a preliminary hierarchy of payment of creditors

3 0 3

PC6. Take a copy of the latest financial position of the organisation

3 0 3

PC7. Get the list of all offices, branches and factories of the company along with the names, addresses and contact numbers of Directors, Principal Officers and Key Management Personnel of the Organisation

2 2 0

PC8. Acquire a list of the inventory in stock, assets and investments as on date

3 3 0

PC9. Make a list of Related Parties with whom the company conducts businesses regularly

3 3 0

PC10. Gather information about pending legal cases against the company

3 3 0

PC11. Compare the information collected from the company with the information collected from public sources

3 3 0

PC12. Highlight differences if any between the two sets of information

3 3 0

PC13. Communicate with the officers of the company seeking clarifications regarding the differences

3 3 0

PC14. Draft the advertisement inviting claims of Creditors

3 0 3

Total 41 20 21


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Verification, Substantiation and Creation of Supporting Documents for Claims BSC / N8205

PC15. Identify the Geographical Location where advertisements need to be issued

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2 0 2

PC16. Liaison with the ad agency to issue advertisement

2 2 0

PC17. Verify the Claims received for accuracy

2 2 0

PC18. Check if all supporting documents are received

3 3 0

PC19. Seek further information, clarifications and documents from the claimant 2 2 0

PC20. Maintain record of claims received with date and time of receipt

2 2 0

PC21. Categorise the claim as either accepted or rejected

3 0 3

PC22. Compare the claim amount with various agreements in place

2 2 0

PC23. Check if charge created or nor created 2 2 0

PC24. Recalculate claim amount wherever necessary

2 2 0

PC25. Prepare the hierarchy of claims 3 3 0

PC26. For each claim, prepare the full docket of supporting documents

3 3 0

PC27. Scan such documents and create a digital folder

3 0 3

PC28. Name the files and folders in a logical manner catering to naming conventions

3 0 3

PC29. Store each file in a proper folder 3 3 0

PC30. Create an electronic copy of the 2 0 2

PC31. claim documentation docket for submission 2 0 2

Total 41 26 15

Drafting Notices and Other Documents and Performing Secretarial Work pertaining to Meetings BSC / N8206

PC32. Draft the Simple Notice and Demand Notice

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3 0 3

PC33. Using templates create various draft documents

3 3 0

PC34. Prepare progress report for submission to various authorities

3 3 0

PC35. Send notices to all parties concerned 2 2 0

PC36. Maintain record of timelines for holding of meetings

3 3 0

PC37. Document responses and replies correctly

3 3 0

PC38. Keep proper records of serving / sending notices

3 3 0


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PC39. Collate replies received against notices

3 3 0

PC40. Prepare the logistics required for conducting Committee of Creditors meetings

3 0 3

PC41. Maintain various MIS on a regular basis

3 0 3

PC42. Follow Company Law procedures on conducting of VC and Recording of meetings and E-voting

3 0 3

Total 32 20 12

Administering the Liquidation Process BSC / N8207

PC43. Carry out listing of the assets which are to be liquidated

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3 0 3

PC44. Ensure co-ordination for getting an initial valuation done

3 0 3

PC45. Draft Bid Documents Using Standard Templates

3 0 3

PC46. Issue Notice for inviting tenders / Bids 2 2 0

PC47. Recording date and time of receipt of bids in the register

2 2 0

PC48. Scrutinizing Bid Documents received for completeness

3 0 3

PC49. Liaoning with Bidders for getting additional documents

2 0 2

PC50. Recording Bid Values in register 2 2 0

PC51. Reconciling money received against successful bids

3 3 0

PC52. Preparing paperwork for transfer of title of assets

3 0 3

PC53. Learn to prepare list of claims of creditors

3 0 3

PC54. Learn to prepare list of payments to creditors

2 2 0

PC55. Recording receipts of payments to creditors

2 2 0

PC56. Taking final signoff from creditors 3 0 3

Total 36 13 23

Communicate effectively and achieve customer satisfaction BSC/N9902

PC1. Listen attentively and paraphrase effectively in order to understand precise requirements of customer, superior or colleague

100

9 1 8

PC2. Be sensitive to: language, gender, cultural and social differences in addressing customers, superiors and colleagues

9 1 8

PC3. maintain: positive attitude, correct body language, dress code, gestures and etiquette

9 3 6


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PC4. understand work output requirements, targets, performance indicators and incentives and receive feedback on work performance with positive attitude

9 4 5

PC5. cooperate, coordinate, and collaborate to achieve shared goals

9 3 6

PC6. organize regular feedback collection as per company’s SOP

9 3 6

PC7. address problems by educating, eliminating or escalating

9 3 6

PC8. aim to gain customer loyalty and satisfaction

9 3 6

PC9. ensure clarity, honesty and transparency in dealing with the clients

9 3 6

PC10. avoid miss-selling and misinforming 10 3 7

PC11. focus on enhancing brand value of company through superior customer service

9 3 6

Total 100 30 70

Maintain integrity and ethics BSC/N9903

PC1. refrain from indulging in unfair trade and/or corrupt practices

100

11 2 9

PC2. maintain records meticulously as per company’s policy, follow prescribed rules and regulations and ensure transparent dealings

11 4 7

PC3. avoid using company’s funds, property or resources for undertaking personal activities

11 2 9

PC4. protect customer’s information and avoid IP infringement

11 4 7

PC5. protect data and information related to business or commercial decisions

11 4 7

PC6. avoid misrepresentation or misinformation

10 4 6

PC7. demonstrate and practice ethics in day-to-day processes and dealings with customers and colleagues

13 3 10

PC8. avoid defaming products and services of companies in competition

12 4 8

PC9. consult supervisor or senior management when in situations that may require differentiating between ethical and unethical

10 3 7

Total 100 30 70

Model Curriculum Insolvency-Associate_11-09...Voidable Contracts and Void Agreements; Contingent...

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