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

7. Selection of Research Associates and Consultants.

(1) The Executive Director shall publish discipline-wise and level-wise number of the Research Associates and Consultants to be engaged with details of qualifications and experience required and the remuneration payable on the website of the Board and invite applications for each discipline and level by a stipulated date:

Provided that the Executive Director may also invite the applications by suitable public notice, for each discipline and level of Research Associates and Consultants.

(2) On expiry of the last date for receipt of applications under sub-regulation (1), the Executive Director shall scrutinise the applications in accordance with these regulations and prepare lists of eligible candidates for each discipline and level to be called for interview.

(3) In case the number of candidates in a list of eligible candidates prepared under sub-regulation (2) is more than four times the number of Research Associates or Consultants to be engaged in that discipline and or level, a committee of officers will prepare a short list of candidates based on higher standards of eligibility, as may be approved by the Board, for interview.

(4) For selecting Research Associates and Consultants for each discipline and level, the Board shall constitute a selection committee comprising:

a) Chairperson or Whole Time Member,

b) Executive Director or a Senior Officer of the Board, if the position of Executive Director is vacant, and

c) An External expert.

(5) The selection committee mentioned in sub-regulation (4) shall interview the candidates in the list of eligible candidates prepared under sub-regulation (2) or in the short list of candidates prepared under sub-regulation (3), as the case may be, and based on the interview, submit to the Board a panel of candidates for engagement as Research Associates and Consultants.

(6) On approval of the panel of candidates by the Board, the Executive Director shall inform each candidate in writing by an offer letter of engagement giving not less than ten days’ time to accept the offer of engagement.

(7) After receipt of acceptance from the selected candidates as per sub-regulation (7), the Executive Director shall issue a letter of engagement to each candidate giving not less than thirty days’ time to join:

Provided that the joining time may be extended by the Executive Director on being satisfied that extension is sought on circumstances beyond the control of the candidate.