valid as on 21/11/2019

2.13.18:Insolvency and Bankruptcy Board of India (Employees’ Service) Regulations, 2017

18. Cessation of pay and allowances.

(1) Pay and allowances shall cease to accrue from the date the employee ceases to be in service of the Board.

(2) In the case an employee is dismissed, removed or compulsorily retired from the Board’s service, the pay and allowances shall cease from the date of his dismissal, removal or compulsory retirement.

(3) In the case of an employee who dies while in service, the pay and allowances shall cease from the day following the day on which the death occurs.


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