valid as on 18/06/2024

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


(1) An employee shall be liable to dismissal or to any of the other penalties referred to in regulation 51, if he is committed to prison or is convicted for an offence which, in the opinion of the Board, either involves gross moral turpitude or has a bearing on any of the affairs of the Board or on the discharge by the employee of his duties with the Board and the opinion in this respect of the Board shall be conclusive and binding on the employee, and such dismissal or other penalty may be imposed as from the date of his committal to prison or conviction and nothing in Regulation 52 and 54 shall apply to such imposition.

(2) Where an employee has been dismissed in pursuance of sub-regulation (1) and the related conviction is set aside by a higher court and the employee is acquitted, he shall be reinstated in service.

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