GUIDELINE 2 - on Guidelines for Internships with IBBI - (Insolvency and Bankruptcy Code, 2016)

The Insolvency and Bankruptcy Board of India Internship Guidelines, 2017

The Insolvency and Bankruptcy Board of India (IBBI) provides an opportunity of internship to students who wish to pursue a professional career in insolvency, liquidation, bankruptcy or any other related field.

The students will be taken as interns under these Guidelines from January, 2018 onwards.

Eligibility

(i) A student who is pursuing a five year or three year degree course in law or post- graduation course in Economics, Commerce, Finance, Management or Law in any recognised School / College / Institute / University (hereafter ‘School’) and has completed the penultimate year or stage (for example, the 2nd year of three- year law degree course, executive stage of company secretary course, etc.) of such degree course or post-graduation course; or

(ii) A student pursuing M. Phil. / Ph. D. course in Economics, Commerce, Finance, Management, or Law in any recognised School.

Duration

A student shall be taken as intern ordinarily for one month beginning on the 1st working day and ending on the last working day of the month. However, the IBBI may, at its absolute discretion terminate internship of an intern at any time without giving any reason therefor or extend the internship of an intern for a period up to another one month.

No leave will be allowed during internship. If IBBI is convinced that absence of an intern is due to unavoidable circumstances, the period of internship will be extended by the period of absence without stipend.

No. of Interns

Number of interns in a month shall not ordinarily exceed four, subject to a maximum 50 in a calendar year.

Stipend

An intern shall be entitled to a lump sum stipend of Rs.10,000/- per month.

Application

An eligible student interested to pursue internship at IBBI may send an application in the annexed format with recommendation of the competent authority of the School at email: intern@ibbi.gov.in

The application should reach at least 30 days before the commencement of internship. For example, a student wishing to undertake internship in January, 2018, should send application at the latest by 30th November, 2017. Incomplete applications and applications without recommendation of the School shall not be considered.

Selection

An internal committee of officers shall scrutinise and shortlist the applications and based on the same, the most suitable students will be identified. They would be offered internship 15 days before the scheduled commencement date. For example, a student will be informed by 15th December, 2017, if he has been selected for internship commencing on 1st January, 2018.

Logistics and Support

An intern shall bring in his own laptop. IBBI shall provide working space and internet connectivity.

Duties of an Intern

(a) An intern shall submit a declaration of secrecy in the prescribed format at the time of commencement of the internship.

(b) An intern shall assist the Officer / Division, to which he is assigned, in carrying out the ongoing activities of the IBBI.

(c) An intern shall submit a dissertation on a topic, as mutually agreed upon between him and the IBBI, prepared under the guidance of an Officer of the IBBI and a Faculty of the School, which has to be ensured by the intern. He shall endeavour to publish the dissertation in the form of an article in an appropriate journal.

(d) An intern shall observe the discipline of the office of the IBBI and shall conduct himself in such manner that he does not bring any disrepute to the IBBI.

(e) An intern shall not represent anywhere as an employee of the IBBI.

Certificate of internship

On satisfactory completion of internship, including dissertation, an intern shall be issued an internship completion certificate.

No Right of Employment

An intern shall have no right / claim for an employment with the IBBI by virtue of his internship.

Relaxation

Chairperson, IBBI may relax any of the provisions of these Guidelines in respect of any deserving student.

Review

These Guidelines will be reviewed by the IBBI from time to time.

ANNEXURE

Form - Application for Internship with Insolvelcy and Bankruptcy Board of India, and the relevant Recommendation.



Recommendation (Recommendation of the competent authority of the School / College / Institute / University Academic Institution where the candidate is pursuing her/his studies.)

This is to certify that Mr. / Ms.. .....is a bonafide student of ..........course. S/He has completed ... ....year / stage of the course and is scheduled to complete the Course in .......

We recommend him/her for internship with the IBBI during the month of ..........

Mr. / Ms. .......of the faculty will provide support for dissertation.

(Signature)

Name:

Designation:

Office Address:

Tel.No.: (Office Seal)