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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Companies Act Amended: New Qualifications for Key Roles Under Section 409, Emphasizing Experience in Finance and Management</h1> Section 409 of the principal Act is amended by the Companies (Amendment) Act, 2017. In sub-section (3), clause (a) is revised to require individuals to have held the rank of Secretary or Additional Secretary to the Government of India. Clause (e) is replaced to define the qualifications for a person of proven ability, integrity, and standing, requiring at least fifteen years of specialized knowledge and professional experience in fields such as industrial finance, management, reconstruction, investment, and accountancy.
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