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Subject: Invitation of applications for the post of Chairperson and three Whole Time Members in the Insolvency and Bankruptcy Board of India to be established under the Insolvency and Bankruptcy Code, 2016.

1. Applications are invited for the post of Chairperson and three Whole Time Members in the Insolvency and Bankruptcy Board of India, a statutory body to be established under the Insolvency and Bankruptcy Code, 2016.

2. The Chairperson and the Whole Time Members shall be persons of ability, integrity and standing, who have shown capacity in dealing with problems relating to insolvency or bankruptcy and have special knowledge and experience in the field of law, finance, economics, accountancy or administration.

3. (a)The Chairperson shall have an option to receive pay (i) as admissible to a Secretary to Government of India or (ii) Consolidated salary of Rs 4,50,000 per month. (b) The Whole Time Members shall have an option to receive pay (i) as admissible to an Additional Secretary to Government of India or (ii) Consolidated salary of Rs 3,75,000 per month.

4. The terms and conditions of the services of the Chairperson and Members shall be regulated by the Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Services of Chairperson and Members) Rules, 2016 which has been approved by the Competent Authority and available on the Ministry’s website www.mca.gov.in in draft form.

5. The term of office of the Chairperson and Members (other than ex officio members) shall be five years or till the attaining of the age of sixty-five years, whichever is earlier, and Chairperson and Members shall be eligible for reappointment.

6. The application in respect of the eligible officers/ eminent qualified persons, who are interested and can be spared in the event of selection may be forwarded, duly verified/ countersigned by the Head of the Department (where applicable) along with the following documents:-

i. Up-to-date and complete Annual Performance Assessment Report (APAR) dossiers in original/ attested photocopies of last 5 years.

ii. Integrity Certificate

iii. Vigilance Clearance including certification that no disciplinary proceeding(s) or criminal proceeding(s) are either pending or contemplated against the officer concerned.

iv. List of major /minor penalties, if any, imposed on the candidate during the last ten years / no penalty certificate.

7 The application of candidate received without the APAR dossier (wherever applicable) or which does not contain the complete information or received after the due date shall not be entertained. The candidate who volunteers to be considered will not be allowed to withdraw their names later.

8 In the case where documents above in paragraph 6 are not applicable, applications should be accompanied by duly authenticated documents in support of the applicant’s eligibility.

9. The appointment shall be made by the Central Government on recommendation of the Selection Committee as provided in Section 189(3) of the Insolvency and Bankruptcy Code, 2016.

10. Application in the performa annexed herewith alongwith supporting documents should be forwarded through proper channel (where ever applicable ) so as to reach to the undersigned in the Ministry of Corporate Affairs, Room No. 538, A-Wing, Shastri Bhawan, Dr Rajendra Prasad Road, New Delhi-110001 on or before 19th August, 2016. The candidate applying for both the posts i.e the Chairperson and Whole Time Member needs to file separate applications.

(Rakesh Tyagi)
Director, Insolvency Section

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