Taxmann’s Cracker – Corporate Restructuring Valuation & Insolvency (CRVI) (CS-Professional) (New Syllabus) by N.S. Zad for Dec 2026 Exams – 5th Edition June 2026.

Taxmann’s CRACKER for Corporate Restructuring, Valuation & Insolvency (CS-Professional | Group 2, Paper 6) is engineered for the decisive final phase of your preparation under the new ICSI syllabus. It reconstructs the paper exactly as ICSI sets it—reproducing past questions topic-wise and answering them in the precise format the examiner rewards. Updated for the 5th Edition (June 2026), this manual simultaneously builds recall, answer-writing discipline, and statutory accuracy.

Key Exam Preparation Features

• Examiner-Style Answers: Valuation problems are worked through step-by-step (Discounted Cash Flow, Net Asset Value). Insolvency answers are strictly anchored to the IBC 2016, IBBI regulations, and deciding case law.

• Fully Updated: Revised to include current judicial precedents (e.g., S.K. Gupta v. K.P. Jain) and the latest regulator circulars, such as the IBBI’s Valuation Report Identification Number (VRIN).

• Process Maps & Checklists: Procedural chapters include stage-wise process maps and ready document checklists, such as the Stage 1–8 NCLT route for a scheme of amalgamation.

• Strategic Trend Analysis: Includes a Chapter-wise Marks Distribution (June 2022 to June 2026) and a direct mapping to the ICSI Study Material.

• Latest Solved Paper: Concludes with a separate, fully solved paper for the most recent June 2026 session with suggested answers.

Complete Syllabus Coverage (Paper 6)

The book spans 27 chapters across the paper’s three core domains, plus a standalone case study section:

• Part I: Corporate Restructuring (Chapters 1–11)

  • Mergers, demergers, reverse mergers, takeovers, and joint ventures.

  • NCLT regulatory approvals, fast-track mergers, and cross-border mergers.

  • Taxation, stamp-duty aspects, and accounting (including set-off and carry-forward of losses).

• Part II: Valuation (Chapters 12–13)

  • Business asset valuation methodologies (DCF, NAV, brand valuation).

  • Regulatory framework for valuers (Companies Rules 2017, SEBI requirements).

• Part III: Insolvency, Liquidation & Winding-up (Chapters 14–26)

  • The IBC framework, role of IBBI/IP/IRP, and the CIRP application process.

  • Pre-packaged insolvency, voluntary liquidation, debt recovery (SARFAESI), and winding-up by the Tribunal.

• Part IV: Integrated Case Studies (Chapter 27)

  • Long-form, multi-part business scenarios requiring you to apply restructuring, valuation, and insolvency law together within a single fact pattern (designed for the 20-mark application component).

About the Authors

• CS N.S. Zad: Cleared the CS Final Exam in June 2005. With over a decade of teaching experience across CA, CS, and CWA professional courses, he brings immense practical knowledge from his time working with medium and large-sized organizations and practicing company secretaries. He is the acclaimed author of the entire Taxmann CRACKER series.

• CS Divya Bajpai: A distinguished Practicing Company Secretary and certified Trademark Attorney with extensive experience working with listed entities. A partner at MSD & Associates (New Delhi), she has authored several books for CS Executive/Professional and CA IPCC/Final levels, and is a frequent contributor to Corporate Professional Magazine.

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