valid as on 22/10/2020

2.6.5:Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations, 2017

5. Qualifications, experience and remuneration.

(1) The eligibility for Research Associates and Consultantsfor different disciplines shall be as given in

Provided that the Board may also engage Research Associates and Consultantsfrom any other discipline as deemed necessary to assist the Board in the discharge of its functions under the Code.

(2) Depending upon the experience in respective discipline, a person shall be engaged as Research Associate or Consultantin one of five levels given in

(3) The Research Associates and Consultants of different levels shall be paid a consolidated remuneration in accordance with

(4) A Research Associate or Consultant shall not be entitled to any other compensation or facility in any form except an annual leave of 12 days.

To view the schedule,Click Here
To view the schedule,Click Here
To view the schedule,Click Here

The Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) (Amendment) Regulations, 2019 dated 23.07.2019


Schedule I-Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations, 2017


(See regulation 5)

Discipline of Research
Associate / Consultant
Qualifications - EssentialQualifications - Desirable
(1)(2)(3)
a. Economics / Public PolicyPost Graduate degree in Economics or Public Policy from a recognised University or Institution.(a) Consistent high academic performance;
(b) Doctoral degree from a reputed University or Institution in Economics or a closely related area;
(c) Degree / Diploma / Certification in Regulatory / Business Law / Economics.
b. Law(i) LL. B or equivalent from a recognised University or Institution, and
(ii) Qualified to be enrolled as an Advocate in a Bar Council constituted under the Advocate’s Act, 1961 (25 of 1961).
(a) Consistent high academic performance;
(b) LL. M. / Doctoral degree from a reputed University or Institution in Law or a closely related area;
(c) Degree / Diploma / Certification in Regulatory / Business Law / Economics.
c. Business ManagementPost graduate degree / Post graduate diploma / Master of Business Management from a
recognised University or Institute / A Member of the Institute of Chartered Accountants of India / A Member of Institute of Cost Accountants of India / A Member of Institute of Company
Secretaries of India.
(a) More than one of the qualifications
mentioned in the essential column;
(b) Consistent high academic performance;
(c) Doctoral degree from a reputed University / Institution in law / management / accounts/ finance / a closely related area;
(d) Degree / Diploma / Certification in
Regulatory / Business Law / Economics.
d. Insolvency(i) Qualifications and experience as required under regulation 5(c) of the Insolvency and
Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016; and
(ii) Pass in the Limited Insolvency Examination.
(a) Consistent high academic performance;
(b) Degree / Diploma / Certification in Regulatory / Business Law / Economics;
(c) Experience as an insolvency professional.
e. Valuation(i) Qualification and experience as required under rule 4 of the Companies (Registered Valuers and Valuation) Rules, 2017; and
(ii) Pass in the Valuation Examination of the relevant asset class (Land and Building / Plant and Machinery / Securities or Financial Assets)
(a) Consistent high academic performance;
(b) Degree / Diploma / Certification in Regulatory / Business Law / Economics;
(b) Experience as a registered valuer of the relevant asset class.
Discipline of Research
Associate or Consultant
Qualifications-EssentialQualifications-Desirable
Economics / Public PolicyPost Graduate degree in Economics or Public Policy from a recognized University or Institution.
(a) Consistent high academic performance;
(b) Doctoral degree from a reputed
University / Institution in Economics or a
closely related area;
(c) Degree / Diploma / Certification in
Regulatory Economics.
Law (i) LL. B or equivalent from a
recognized University
and/or Institute, and
(ii) Qualified to be registered as an
Advocate in any State Bar Council of
India in terms of Advocate’s Act, 1961.
(a) Consistent high academic performance;
(b) LL. M. / Doctoral degree from a
reputed University / Institution in Law or a
closely related area;
(c) Degree / Diploma / Certification in
Regulatory Law.
Business Management Post graduate degree / Post graduate diploma / Master of Business Management
from a recognized University or Institute / A Member of the Institute of Chartered Accountants of India / A Member of Institute of Cost accountants
of India / A Member of Institute of Company Secretaries of India.

(a) More than one of the qualifications
mentioned in the essential column;
(b) Consistent high academic
performance;
(c) Doctoral degree from a reputed
University / Institution in law /
management / accounts/ finance / a closely
related area;
(c) Degree / Diploma / Certification in
Regulatory Law / Economics.

Substituted vide the Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) (Amendment) Regulations, 2019 dated 23.07.2019. To view the Notification, Click Here.

Schedule II-Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations, 2017

Level Experience (Employment / Practice/
Research) in the relevant discipline
(Years)
Consolidated Monthly
Remuneration + 10 percent
annual increase
Level I (Research Associate) < 3Rs.40,000
Level II (Research Associate) ≥ 3 - < 5 Rs.60,000
Level III (Research Associate) ≥ 5 - < 10 Rs.85,000
Level IV (Consultant)≥ 10 - < 15 Rs.110,000
Level V (Consultant) ≥ 15 Rs.135,000


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