Managing director appointment rules require open advertisement and Board approvals, with tenure limits and removal safeguards. Regulation prescribes that the managing director be selected through open advertisement, meet prescribed age eligibility with limited relaxations, and not serve beyond the specified age. Appointment, renewal and termination require prior Board approval; remuneration and appointment terms are approved by a compensation committee of the Governing Board. Tenure is for a fixed multi-year period with a cap on number of terms and a fresh selection process for a second term. Removal may occur for failure to implement directions, misconduct or incapacity, and the Board may suo motu remove the managing director after a hearing in the public or stakeholder interest.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Managing director appointment rules require open advertisement and Board approvals, with tenure limits and removal safeguards.
Regulation prescribes that the managing director be selected through open advertisement, meet prescribed age eligibility with limited relaxations, and not serve beyond the specified age. Appointment, renewal and termination require prior Board approval; remuneration and appointment terms are approved by a compensation committee of the Governing Board. Tenure is for a fixed multi-year period with a cap on number of terms and a fresh selection process for a second term. Removal may occur for failure to implement directions, misconduct or incapacity, and the Board may suo motu remove the managing director after a hearing in the public or stakeholder interest.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
