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Sick Industrial Companies (Special Provisions) Act, 1985

3. Pay

(1) The Chairman shall receive pay as admissible to a Judge of a High Court.

(2) A member shall receive pay as admissible to the Secretary to the Government of India:

PROVIDED that in the case of an appointment of a person as a Chairman, or as a member, who was retired as a Judge of a High Court or who has retired from service under the Central Government or a State Government and who is in receipt of or has received or has become entitled to receive any retirement benefit by way of pension, gratuity, employer's contribution to the Contributory Provident Fund or other forms of retirement benefits, the pay of such Chairman or Member shall be reduced by the gross amount of pension and pension equivalent of gratuity or employer's contribution to the Contributory Provident Fund or any other form of retirement benefits, if any, drawn or to be drawn by him.



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