Most likely the oven element has failed. These often trip the MCB or RCD when they blow, which explains the electric tripping out.
It's normally quite easy and cheap to get and fit a replacement element. I had the same problem with my Whirlpool oven last year. I got a replacement element from cookerfix for about GBP 25 and it took about ten minutes to fit it. Problem solved.
Ovens are pretty simple assemblies so it is a screw driver and multimeter task to identify the component. As said, the bits a readily available.
I had a funny some years back where the RCD tripped when the oven light (switch 1st position) was switched on. Disconnected the light totally and it still tripped - turned out that it was an earth to neutral failure in the element and for some reason the switch's 1st position put the neutral onto the element.
Most likely the oven element was playing up and took the bulb with it when it died. Had a similar problem - worse - when elements in oven, kettle and washing machine were all wearing out at the same time: caused an awful lot of head scratching until I had replaced all three elements: blamed loads of other things first!
First thing: the warrantee: if your oven is only 2 y old, it *might* be better to leave it up to them. On the other hand, it can still cost an arm and leg even then, and elements are usually fairly cheap as they regularly go, and there are usually plenty of pattern parts about.
Don't know about the Indesit, but our Bosch was pretty difficult to suss as the fault looked like it was in the electronic controls: as if they kept resetting themselves to 150C, for some time, before the element finally died altogether. Turned out the main element had *two* circuits, that had died separately. If you find that there are 4 contacts on your element do be sure to label them and make a note of which goes where. I found it very difficult to work out for certain as the colours in the Bosch on line manual were different from mine (most 'amusing' was Bosch's propensity for putting
Most likely a fried element. Less likely a faulty thermostat or a burnt up connector. A multimeter will quickly tell you which. If you dont have a multimeter, Rapid online does them from just =A32.44 now.
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