This notification from the Ministry of Corporate Affairs, dated September 19, 2019, announces the appointment of Shri Krishnamurty Subramanian, Chief Economic Advisor, Government of India, and Shri B. Sriram, former Managing Director and Chief Executive Officer, Industrial Development Bank of India Limited, as part-time members of the Insolvency and Bankruptcy Board of India (IBBI).
The appointments are made effective from July 8, 2019, and July 4, 2019, respectively, and are for a term of five years or until the age of sixty-five years, whichever is earlier. This action is taken in exercise of the powers conferred by clause (d) of subsection (1) and subsection (4) of section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016).
The fee and allowances for these part-time members will be governed by Rule 20 of the Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016, as amended.
The notification was issued under F. No. 30022016-Insolvency by Gyaneshwar Kumar Singh, Joint Secretary.
Key Entities Referenced
Insolvency and Bankruptcy Code, 2016: A law enacted in 2016 related to insolvency and bankruptcy proceedings.
Ministry of Corporate Affairs: The Indian government ministry responsible for corporate affairs.
Insolvency and Bankruptcy Board of India: An organization related to the Insolvency and Bankruptcy Code, 2016.
Krishnamurty Subramanian: Chief Economic Advisor, Government of India, appointed as part-time member in the Insolvency and Bankruptcy Board of India.
B. Sriram: Former Managing Director and Chief Executive Officer, Industrial Development Bank of India Limited, appointed as part-time member in the Insolvency and Bankruptcy Board of India.
Industrial Development Bank of India Limited: A financial institution where B. Sriram was formerly the Managing Director and Chief Executive Officer.
New Delhi: The location of the notification and Government of India Press; the capital of India.
Insolvency and Bankruptcy Board of India Salary, Allowances and other Terms and Conditions of Service of Chairperson and members Rules, 2016: A set of rules governing the salary, allowances, and service conditions of the chairperson and members of the Insolvency and Bankruptcy Board of India.
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Zाने[र कुमार \संह, संयु2 सिचव
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 19th September, 2019
S.O. 3458(E).—In exercise of the powers conferred by clause (d) of sub-section (1) and sub-section (4) of
section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints
4989 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
Shri Krishnamurty Subramanian, Chief Economic Advisor, Government of India and Shri B. Sriram, former Managing
Director and Chief Executive Officer, Industrial Development Bank of India Limited as part-time members in the
Insolvency and Bankruptcy Board of India with effect from the 8th July, 2019 and the 4th July, 2019 respectively for the
period of five years or till the age of sixty-five years, whichever is earlier, and the fee and allowances of the aforesaid
part-time members shall be governed as per rule 20 of the Insolvency and Bankruptcy Board of India (Salary,
Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016, as amended from
time to time.
[F. No. 30/02/2016-Insolvency]
GYANESHWAR KUMAR SINGH, Jt. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.