Fit and proper person requirement now mandates disclosures of concurrent remunerations and past regulatory proceedings for managerial appointments. Notification revises Forms 25A and 25C to require additional disclosures for Central Government approval of managing or whole time director/manager appointments, reflecting the obligation to ensure a proposed appointee is a fit and proper person and that the appointment is not against the public interest. Required information includes, in column 15, details of other managing/whole time positions and remuneration for the last three years, and, in column 16, declaration of any past or pending proceedings under specified regulatory statutes; omissions on already submitted applications may cause processing delays.