valid as on 11/11/2019

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

8. Resignation from service.

(1) An employee may resign from the services of the Board by giving notice to the Board, in writing of his intention to leave or discontinue the service.

(2) The period of notice under sub-regulation (1) shall be one month for an employee, if he is on probation on initial appointment, and three months in all other cases.

(3) An employee shall not be entitled to set off any leave in his credit against the period of such notice.

(4) The Board may allow an employee to resign without giving notice under sub-regulation (1) or (2), if the employee pays to the Board a sum equal to his pay for the period of notice:

Provided that the Board may waive or reduce the period of notice or payment under this regulation, for reasons to be recorded in writing.

(5) Notwithstanding anything contained in sub-regulation (1), the resignation of an employee shall not be effective unless it is accepted by the Board.

(6) Resignation of the employee may be refused-

(a) if any disciplinary proceeding is pending or is proposed to be instituted against him;

(b) if he is under an obligation to serve the Board for a certain period which has not yet expired;

(c) if he owes the Board any sums of money; or (d) for any other sufficient ground to be recorded in writing.


CAIRR PLUS on Google Playsecretarial automation?Subscribe for Updates