valid as on 22/10/2020

1.1.7:Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016

7. Leave.-

The Chairperson and a whole-time member shall be entitled to a leave as follows:-

(1) Earned Leave at the rate of thirty days for every completed calendar year of service:

Provided that the leave account shall be credited with earned leave in advance in two installments of fifteen days each from the first day of January and first day of July of every calendar year:

Provided further that the earned leave at the credit at the close of previous half year shall be carried forward to the next half year, subject to the condition that the leave so carried forward plus credited for half year do not exceed three hundred days.

(2) Half Pay Leave on medical certificate or on private affairs at the rate of twenty days in respect of each completed year of service to be credited in advance in two installments of ten days each on first day of January and first day of July of every calendar year and leave salary for half pay leave shall be equivalent to half of the leave salary admissible during he earned leave;

(3) Leave on Half Pay may be commuted to full pay leave at the discretion of the Chairperson or a wholetime member, if it is taken on medical grounds and is supported by a Medical Certificate by a competent medical authority;

(4) Casual Leave at the rate of eight days in a calendar year;

(5) Restricted holidays at the rate of two days in a calendar year availing to their choice;

(6) Extra-ordinary leave without pay and allowances up to a maximum period of one hundred and eighty days in one term of office ; and

(7) Extra-ordinary leave without pay and allowances in a calendar year out of the holidays notified by the Central Government.


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