valid as on 18/06/2024

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

2. Definitions.

(1) In these regulations, unless the context otherwise requires,-

(a) “Code” means the Insolvency and Bankruptcy Code, 2016;

(b) “decide” means decision by the Board through a circular and decided shall be construed accordingly;

(c) “dependent” means-

(i) parents and step parents (a female employee can have either her parents or her parents-in-law as dependent);

(ii) sisters, widowed sister, widowed daughter, minor brother;

(iii) children and step-children (son upto the age of 25 or till his marriage, whichever is earlier, and daughter till she gets married, and handicapped son);

(iv) divorced / abandoned or separated sisters and divorced / abandoned or separated daughters, whose income from all sources doesn’t exceed Rs. 10,000/- per month or such other amount, as may be decided by the Board from time to time;

(d) “duty” includes-

(i) service as a probationer;

(ii) period during which an employee is on joining time or training authorized by the Board;

(iii) period spent on causal leave duly authorized by the Board;

(e) “employee” means an Officer, a Personal Assistant or a General Assistant, as referred in sub-regulation (1) of regulation 3, employed by the Board under these regulations;

(f) “family” means spouse of the employee and includes dependent, if any;

(g) “initial appointment” means an appointment of an individual for the first time in the services of the Board;

(h)“relative” means employee’s father, mother, son, son’s wife, brother, sister, daughter, daughter’s husband and includes step-father, step-mother, step-son, step-daughter, step-brother and step-sister;

(i) “service” includes the period during which an employee is on duty as well as on leave duly authorised by a competent authority, but does not include any period during which an employee is absent from duty without permission or overstays his leave, unless specifically permitted by the competent authority.

(2) The words and expressions used herein and not defined in these Regulations, but defined in the Code shall have the meanings respectively assigned to them in the Code.

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