valid as on 11/07/2024

2.8.3:Insolvency and Bankruptcy Board of India (Procedure for Governing Board Meetings) Regulations, 2017.

3. Governing Board Businesses.

(1) The Governing Board shall transact the following businesses:-

(i) Regulations to be made under section 240;

(ii) Annual Accounts and Audit under section 223;

(iii) Annual Budget under section 228;

(iv) Annual Report under section 229;

(v) Delegation of Powers under section 230;

(vi) Operations Manuals for various activities;

(vii) Timelines for Disposal of various activities;

(viii) Expenditures above Rs.5 crore;

(ix) Location of Office Premises;

(x) Number and categories of employees and their compensation;

(xi) Accommodation for Chairperson and Whole Time Members under Rule 12 of the IBBI (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016;

(xii) Any other as may be specifically required by the Governing Board from time to time;

(xiii) Any other as may be brought before the Governing Board from time to time; and

(xiv) Any other as may be required under any law for the time being in force.

(2) The business shall be transacted, as far as possible, in meetings of the Governing Board:

Provided that a Member may attend a meeting through video conferencing:

Provided further that wherever considered necessary, a business may be transacted by a resolution passed by circulation of an agenda to the Members:

Provided further that a resolution passed through circulation of the agenda to the Members shall be placed before the next meeting of the Governing Board for ratification.

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