The Insolvency and Bankruptcy Code, 2016
IBBI (Employees’ Service) Regulations, 2017
Chapter II – Appointment, Probation and Termination of Service
Regulation 10: Liquidated damages.
10. Notwithstanding anything contained in these Regulations, the Board may require an employee to pay liquidated damages, if he fails to serve the required number of years after acquiring a training.
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