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IBC - Highlights / Catch Notes

Home Highlights September 2024 Year 2024 This

Amendment to rules governing salary, allowances and service ...


Insolvency Board's Chairperson, Members' Salaries Hiked Retrospectively from Jan 2024.

Notifications     IBC

September 13, 2024

Amendment to rules governing salary, allowances and service conditions of Chairperson and members of Insolvency and Bankruptcy Board of India. Key changes: Chairperson's salary increased from Rs. 4,50,000 to Rs. 5,62,500. Whole-time member's salary increased from Rs. 4,00,000 to Rs. 5,00,000. Revised salaries applicable retrospectively from January 1, 2024. Consequential amendments to rules regarding leave salary and pension. Notification issued under Insolvency and Bankruptcy Code, 2016. No person adversely affected by retrospective application.

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