4th CNLU-CARCIL National CIRP Simulation Competition, 2026 [Virtual + On-Campus, CNLU Patna]

The CNLU-CARCIL National CIRP Simulation Competition, 2026 is organised by Chanakya National Law University (CNLU), Patna, through its Centre for Advanced Research on Corporate and Insolvency Laws (CARCIL), as Day 2 of the CARCIL National Corporate Fest, 2026 (CNCF'26). This is the 4th edition of the Competition.

The Competition simulates real-world Corporate Insolvency Resolution Process (CIRP) proceedings under the Insolvency and Bankruptcy Code, 2016. It is a practice-oriented format built around experiential learning, aimed at developing insolvency resolution, commercial and strategic decision-making skills for modern insolvency and restructuring practice.

• Stage I - Written Submission Round: each team prepares and submits a Resolution Plan complying with the Code and the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Submissions are evaluated on CIRP sequencing, statutory compliance and analytical clarity. The top 24 teams qualify.
• Stage II - Virtual Preliminary Simulation Round: qualifying teams present before a panel of judges acting as the Committee of Creditors (CoC). The top 8 teams advance.
• Stage III - On-Campus Final Round: held at CNLU, Patna on 4 September 2026. Teams present their Resolution Plan before a simulated NCLT Bench for approval, on the footing that the plan has already been approved by the CoC.

Each team shall consist of exactly two members, holding distinct and fixed roles mirroring actual CIRP participants. Participants must strictly adhere to the responsibilities and limitations of their assigned role throughout all rounds.

• Member I - Interim Resolution Professional (IRP) and Resolution Professional (RP): explains the procedure from the declaration of moratorium and appointment of the IRP through to the presentation of the final Resolution Plan before the CoC.
• Member II - Resolution Applicant (RA): explains the contents of the Resolution Plan and how the Corporate Debtor shall be resolved as a going concern.

Cross-institutional teams are permitted, provided the composition otherwise satisfies the eligibility criteria. Once registered, a team may not alter its composition save in exceptional circumstances and with the Organisers' permission.

• Students pursuing a full-time three-year or five-year LL.B. from a university recognised by the Bar Council of India or other relevant statutory authority.
• Students enrolled in LL.M. programmes from recognised universities duly accredited by the UGC.
• Undergraduate or postgraduate students in Finance, Management, Economics or allied disciplines from recognised universities, colleges or institutions.

Teams register through the provisional registration form linked below, and complete final registration together with submission of the Resolution Plan. The registration fee is payable in two instalments:

• Rs 2,000 per team at the time of final registration, along with submission of the Resolution Plan.
• Rs 3,000 per team payable only by teams qualifying within the top 24 for the Virtual Preliminary Simulation Round.

Fee payment is to Chanakya National Law University, Account number 40831092400, IFSC Code SBIN0015996, Branch: Mithapur, Patna. Teams must furnish proof of payment to confirm participation, and a Team Code is allotted on receipt of the form and fee.

The Resolution Plan must comply with the mandatory contents prescribed under Section 30(2) of the Code and Regulation 38 of the CIRP Regulations. Formatting: Times New Roman, size 12 body text and size 10 footnotes; 1.5 line spacing for body and single spacing for footnotes and headings; one inch margins on all sides. The file shall be named "Resolution Plan - CCNCSC".

Teams may not introduce funding or infusion of funds to the extent of satisfying all outstanding debts of the Corporate Debtor, and are expected to ignore the valuation process for the written submission. Anonymity is strict: no part of the submission, including the cover page, may disclose the team or its institution, and any violation attracts disqualification. Plagiarism in any form is a ground for disqualification at any stage. Delayed submissions attract a deduction of one mark per hour of delay, and submissions made more than 24 hours after the deadline shall not be considered.

Written submissions are assessed out of 100 marks across five parameters of 20 marks each: clarity of thought and expression; proposals in the Resolution Plan and their viability; statutory compliance and procedural accuracy (CIRP sequencing); originality and uniqueness; and legal coherence.

In the simulation rounds, each team member is individually assessed out of 100 marks across: correctness of the procedure adopted; appreciation of practical nuances and legal issues involved; professional conduct, language and decorum; oral advocacy and clarity and structure of presentation; and role fidelity and division of work. A team's score in each simulation round is the average of both members' individual marks. Written submission marks are not carried forward into the simulation rounds, but are used to break ties.

CARCIL's official Rulebook (last updated 21 June 2026) lists the Stage I written submission last date as 15 July 2026 and the Virtual Preliminary Simulation Round on 15 August 2026. The official Pre-Invite, which is the more recent document (last updated 11 July 2026), gives 19 July 2026 as the last date for final registration and submission of the Resolution Plan, and 16 August 2026 for the virtual round. This listing follows the newer Pre-Invite. Teams should confirm the operative dates with the Organisers at carcil.fest@cnlu.ac.in before submitting.

The last date for clarifications (14 July 2026) has already passed.