The IBBI (Medical Facility to Chairperson and Whole -time Members) Scheme Rules, 2019

In exercise of the powers conferred by clause (zd) of sub-section (2) of section 239 read with sub-section (5) of section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016) and in supersession of the Insolvency and Bankruptcy Board of India (Medical Facility to Chairperson and Whole – time Members) Scheme, 2019, except as respects things done or omitted to be done before such supersession, the Central Government hereby makes the following rules, namely: —

(1) These rules may be called the Insolvency and Bankruptcy Board of India (Medical Facility to Chairperson and Whole -time

Members) Scheme Rules, 2019.

(2) They shall come into force on the date of their publication in the Official Gazette


VL Note : –

In these rules, unless the context otherwise requires,-

(a) “Code” means the Insolvency and Bankruptcy Code, 2016 (31 of 2016) ;

(b) family mean,- 

      (i) self; 

      (ii) spouse;

      (iii) parents(female employee can have either her parents or her parents- in-law as dependents);

      (iv) sisters, widowed sisters, widowed daughters, minor brothers and minor sisters;

      (v) children and step-children normally residing with the employee (son up to the age of twenty-five years or till his

      marriage, whichever is earlier, and daughter till she gets married);

      (vi) divorced or separated daughters (including their minor children) and step-mother;

Explanation.- For the purposes of this clause, it is hereby clarified that, except for spouse, the family members must be

dependent on the employee;

(c) “Group Mediclaim Policy” means health insurance policy as being purchased by the Insolvency and Bankruptcy Board of

India for their employees.

(d) words and expressions used in these rules but not defined, and defined in the Code shall have the meanings respectively

assigned to them in the Code.


VL Note : –

The Chairperson and the whole-time members shall be entitled to reimbursement of expenses incurred on outdoor medical

treatment, including medicines, tests, procedures, dentures and spectacles, for self and family members, as per actuals

subject to maximum expenditure up to sixty-five thousand rupees annually if claim is supported by prescription of a

registered medical practitioner or Government hospital or private hospital registered under the law.



VL Note : –

(1) The Chairperson and the whole-time members shall be covered under a Group Mediclaim Policy with an annual cover up

to fifteen lakh rupees for self and family subject to the condition that treatment has been taken as per the terms and

conditions of the Group Mediclaim Policy.

(2) The Insolvency and Bankruptcy Board of India will bear the expenditure towards premium for coverage under a family

floater Group Mediclaim Policy


VL Note : –

(1) The monthly subscription payable by the Chairperson and the whole-time members shall be at the rate of one thousand

rupees per month.

(2) The subscription once paid shall not be refundable.

(3) The monthly subscription so received shall be utilised for payment towards purchase of Group Mediclaim Policy, referred

to in rule 4, for the Chairperson and the whole-time members and other related expenses on treatment.


VL Note : –

In case the beneficiary of the scheme under these rules is also the beneficiary of the Central Government Health Scheme or

other health scheme, the beneficiary shall have to exercise option for availing of any one Scheme.



VL Note : –