2.13.44:Insolvency and Bankruptcy Board of India (Employees’ Service) Regulations, 2017
44. Employment after retirement.
(1) No employee, who has retired from service, shall, within a period of two years from the date when he ceases to be in the Board’s service, accept or undertake a commercial employment except with the previous approval of the Board:
Provided, however, before refusing approval, the employee shall be given a hearing and a copy of the decision taken shall be communicated to him.
(2) While granting approval under sub-regulation (1), the Board reserves the right to impose such conditions as may be necessary having regard to circumstances.
(3) The approval or notice for hearing before refusal under this regulation shall be communicated to the employee by the Board within a period of 90 days from the date of receipt of the application for such approval, failing which the approval shall be deemed to have been granted.