Section 189(1) in Insolvency And Bankruptcy Code, 2016
(1)The Board shall consist of the following members who shall be appointed by the Central Government, namely:-(a)a Chairperson;(b)three members from amongst the officers of the Central Government not below the rank of Joint Secretary or equivalent, one each to represent the Ministry of Finance, the Ministry of Corporate Affairs and Ministry of Law, ex officio;(c)one member to be nominated by the Reserve Bank of India, ex-officio;(d)five other members to be nominated by the Central Government, of whom at least three shall be the whole-time members.
