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<h1>New Rules for Appointing Managing Directors Under Regulation 9A: Age Limit, Tenure, and Removal Criteria Explained</h1> Regulation 9A of the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017 outlines the criteria and process for appointing a managing director. The individual must be selected through public advertisement and be under 55 years of age, extendable to 60. The tenure ranges from three to five years, with a maximum of two terms. A compensation committee approves the appointment and remuneration, while the Board must approve any appointment, renewal, or termination. The managing director can be removed for non-compliance or misconduct, and the Board can independently terminate the service if deemed necessary for stakeholder or public interest.