16. Encashment of Leave

¹[(1) The payment of leave salary during leave shall be governed by rule 40 of the Central Civil Services (Leave) Rules, 1972.

(2) The Chairperson and a whole time member shall be entitled to encashment of fifty per cent of earned leave standing to their credit at any time]

Note:

1. Substituted by Notification no. G.S.R. 168(E) :- Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Second Amendment Rules, 2019

The below rule shall be substitute-

16. The Chairperson or a whole time member shall be entitled to the encashment of leave in accordance with the rules applicable to Group ‘A’ officers of the Central Government, subject to a maximum encashment of three hundred days, including the leave encashed before superannuation.