Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016 (From Rule 1 to Rule 21)
Pay entitlement options for insolvency board members provide scale or consolidated salary, with pension offsets applied. The rule grants the Chairperson and whole-time members an option between pay as admissible to a Secretary or Additional Secretary and a consolidated salary; recent notifications substituted consolidated amounts. If the appointee is a retired government officer receiving retirement benefits, pay and allowances under the chosen option are to be reduced by the gross pension and pension-equivalent gratuity or employer contributions or other retirement benefits drawn or payable. A proviso fixes entitlement to salary under the sub-rules from a specified commencement date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Pay entitlement options for insolvency board members provide scale or consolidated salary, with pension offsets applied.
The rule grants the Chairperson and whole-time members an option between pay as admissible to a Secretary or Additional Secretary and a consolidated salary; recent notifications substituted consolidated amounts. If the appointee is a retired government officer receiving retirement benefits, pay and allowances under the chosen option are to be reduced by the gross pension and pension-equivalent gratuity or employer contributions or other retirement benefits drawn or payable. A proviso fixes entitlement to salary under the sub-rules from a specified commencement date.
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