Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
The amendment revises the model bye-laws for insolvency...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing director renewal.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
The amendment revises the model bye-laws for insolvency professional agencies by adding a nominee director to the governing board, clarifying that the nominee director is counted separately from the minimum seven directors, and giving that nominee the same status, rights, duties, powers and responsibilities as other directors. It also tightens eligibility for independent directors by excluding persons connected with sponsoring or controlling statutory regulators and persons serving as independent directors of another insolvency professional agency. The second term of the managing director is made conditional on a satisfactory performance review and prior Board approval, and an agency seeking approval for appointment or renewal of the managing director must send at least two names one month before the incumbent's tenure ends.
The amendment revises the model bye-laws for insolvency professional agencies by adding a nominee director to the governing board, clarifying that the nominee director is counted separately from the minimum seven directors, and giving that nominee the same status, rights, duties, powers and responsibilities as other directors. It also tightens eligibility for independent directors by excluding persons connected with sponsoring or controlling statutory regulators and persons serving as independent directors of another insolvency professional agency. The second term of the managing director is made conditional on a satisfactory performance review and prior Board approval, and an agency seeking approval for appointment or renewal of the managing director must send at least two names one month before the incumbent's tenure ends.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
