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INSOLVENCY AND BANKRUPTCY INTERNSHIP

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INSOLVENCY AND BANKRUPTCY INTERNSHIP
Mr. M. GOVINDARAJAN By: Mr. M. GOVINDARAJAN
May 28, 2024
All Articles by: Mr. M. GOVINDARAJAN       View Profile
  • Contents

Internship

  • The Board provides an opportunity of internship to students who wish to pursue a professional career in insolvency, liquidation, bankruptcy or any other related field.
  • This scheme will be effected from January, 2018 onwards. 
  • In this regard the Board issued Insolvency and Bankruptcy Board of India Internship Guidelines, 2017.

Eligibility

  • A student who is pursuing the following is eligible to internship-
  • Five year or three-year degree in Law; or
  • Post graduate in Economics, Commerce, Finance, Management or Law in any recognized School/College/Institute/University and
  • has completed the penultimate year or stage of such degree course or post-graduate course; or
  • A student pursuing M.Phil./Ph.D.  course in Economics, Commerce, Finance, Management or Law in any recognized school.

Duration

  • The duration of internship is ordinarily one month beginning on the first working day and ending on the last working day of the month;
  • The Board may, at its absolute discretion terminate internship of an intern at any time without giving any reason thereof or extend the internship of an intern for a period up to another one month;
  • No leave will be granted during the internship;
  • If the Board is convinced the absence of an intern is due to unavoidable circumstances, the period of internship will be extended by the period of absence without stipend.

Maximum number of interns

  • The number of interns in a month shall not ordinarily exceed four. 
  • The maximum number of intern in a calendar year is 50.

Stipend

  • The Board will provide stipend of Rs.10,000/- per month to each intern.

Procedure

  • An eligible student interest to pursue internship may send an application in the prescribed format;
  • The application shall be recommended by the competent authority of the school.
  • The application may be forward to the email id – [email protected].
  • The application should reach the Board within 30 days before the commencement of internship.
  • Incomplete applications and applications without recommendations of the school shall not be considered.
  • An internal committee of officers shall scrutinize the applications and shortlist the applications and the most suitable students will be identified.
  • The selected students would be offered internship 15 days before the schedule commencement date.
  • An intern shall bring in his own laptop;
  • The Board shall provide working space and internet connectivity.

Duties of intern

  • The following are the duties to be performed by an intern as per these guidelines-
  • He shall submit a declaration of secrecy in the prescribed format at the time of commencement of internship.
  • He shall assist the Officer/Division to which he is assigned in carrying out the ongoing activities of the Board.
  • He shall submit a dissertation on a topic, as mutually agreed upon between him and the Board, prepared under the guidelines of an officer of the Board and a Faculty of the school, which has to be ensured by the intern.
  • He shall try to publish the dissertation in the form of an article in an appropriate journal.
  • He shall observe the discipline of the office of the Board.
  • He shall conduct himself in such manner that he does not any disrepute to the Board.
  • He shall not represent anywhere as an employee of the Board.

Certificate

  • On completion of the internship, including dissertation, an intern shall be issued an internship completion certificate by the Board.

No employment

  • An intern shall have no right or claim for an employment with the Board by virtue of acquiring internship.

Powers of the Board            

  • The Chairperson of the Board may relax any of the provisions of these guidelines in respect of any deserving student.  The Board may review these guidelines from time to time.

 

By: Mr. M. GOVINDARAJAN - May 28, 2024

 

 

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