Affixation of the Authority's Common Seal requires prior authorisation through a resolution of the Authority. The seal may be affixed only in the presence of at least one member, who must sign the instrument to attest that presence. This signature is independent of any signature made by a witness to the instrument.

Regulation 15 authorises the Chairperson, whole-time members, and officers nominated by the Chairperson to act severally for the Authority in endorsing, transferring, drawing, accepting and signing negotiable instruments, securities, property title documents, accounts, receipts and other documents connected with the Authority's authorised business. Officers authorised by the Chairperson may also sign and verify pleadings, complaints, affidavits, petitions and other documents connected with legal proceedings on the Authority's behalf.

Contracts requiring writing and signature may be executed on behalf of the Authority by a member, officer, or other person acting under its express or implied authority. The same manner applies to variation or discharge of such contracts. An officer authorised by the chairperson may sign and verify documents connected with a contract. Contracts made in accordance with these requirements are valid and binding on the Authority.

The Chairperson must nominate an officer of at least Grade D as Secretary to keep custody of the common seal, attendance register, minutes book, and other meeting records. The Secretary must arrange meetings, record minutes, and ensure compliance with meeting procedure. Members may not provide information to the press or other public media concerning the Authority's functioning or meeting decisions, unless they are the Chairperson or are specifically authorised by the Chairperson.

Every member must, before assuming duties, sign the prescribed declaration of fidelity and secrecy. The declaration requires strict secrecy regarding all transactions and related matters, and prohibits disclosure of information acquired in the discharge of duties unless disclosure is required or authorised by the Authority or by law.

Member disqualification disclosure requires a member of the International Financial Services Centres Authority to inform the Authority as soon as possible upon becoming subject to any disqualification specified under section 7 of the Act. Where the Authority becomes aware that a member has incurred such disqualification, it must inform the Central Government.

Conflict-of-interest abstention requires every Authority member who is directly or indirectly concerned or interested in a matter before a meeting to disclose the nature of that interest promptly. The disclosure must be recorded in the Authority's proceedings, and the interested member must not participate in deliberations or decisions on that matter. Indirect interest includes interests held through relatives or by being a partner or director of the relevant concern.

Minutes of every Authority meeting must be maintained in designated books, which may consist of duly numbered loose-leaf binders. Copies of each meeting's proceedings must be circulated promptly to members for confirmation. Confirmed minutes must be signed at the succeeding meeting by the Chairperson or the member presiding, and must subsequently be taken on record.

Leave of absence for Authority meetings may be granted by the Authority to a member who is not present at a meeting. Every grant of such leave must be recorded in the minutes of that meeting.

Quorum for Authority meetings ordinarily requires four members. If the Authority's total strength is below four, all members may form the quorum if there are at least two members and at least one is an ex-officio member. Matters are decided by a majority of members present and voting. Where votes are equally divided, the Chairperson, or in the Chairperson's absence the presiding member, has a second or casting vote.

Authority meetings ordinarily require at least seven working days' notice with agenda papers to every member. Emergency meetings require sufficient notice to permit attendance, and decisions may be taken through circulation of an agenda. Additional business requires consent of the Chairperson or presiding member and a majority of members present. Where physical meetings are not possible, meetings and voting may occur through audio-visual and electronic means. Recorded transcripts must be retained until minutes are confirmed, and the secretariat must facilitate virtual participation.

Authority meetings must be held at the time and place within India specified in the notice convening the meeting. The convening notice determines the stated venue and timing of each meeting.

Presiding over Authority meetings is vested in the Chairperson. If the Chairperson cannot attend for any reason, the members present must choose another member to preside over the meeting.

The Authority must hold meetings at least once every quarter, convened by the Chairperson or, in the Chairperson's absence, a nominated member. Any three members may require a meeting at any time, and the Chairperson must convene it. If the Chairperson is unavailable, any three members may require the Secretary to convene the meeting.

Definitions governing Authority meeting procedures identify the Act, Authority, Chairperson, Member and Schedule. "Authority" comprises members constituted under the International Financial Services Centres Authority Act, 2019, while "Member" includes the Chairperson. Terms not defined in the regulations carry the meanings assigned under the Act.

International Financial Services Centres Authority (Procedure for Authority Meetings) Regulations, 2020 are made under the Authority's statutory power to regulate the procedure for its meetings. They establish the regulatory instrument governing Authority-meeting procedure and come into force on the date of publication in the Official Gazette.

Banking Units in International Financial Services Centres require licensing based on prescribed capital, home-regulator approval and Parent Bank liquidity support. They must meet applicable prudential standards, including liquidity, leverage, exposure, reserve and reporting requirements. Banking business is generally conducted in freely convertible foreign currencies, with specified INR transactions permitted where settlement occurs in foreign currency. Permissible activities include lending, investments, trade finance, derivatives, export finance, leasing and eligible Foreign Portfolio Investor activities. Know Your Customer and anti-money-laundering requirements apply, and failure to meet licence conditions may result in licence withdrawal after an opportunity for submissions.

Documented share-sale proceeds cannot be treated as unexplained cash credit merely because the shares were identified as penny stocks. Purchase through a registered broker by cheque, demat-account holding and transfer, sale through a recognised stock exchange, and payment of securities transaction tax supported the genuineness of the transactions. Where no defects are found in these records and no material links the taxpayer to price rigging or accommodation entries, an investigation report containing only general penny-stock information is insufficient. The long-term capital-gains addition was therefore deleted.

GST practitioner enrolment under Section 48 of the Delhi Goods and Services Tax Act, 2017 is assigned to Sanjeev Gupta, Assistant Commissioner. He is designated as the proper officer for enrolling GST practitioners, replacing the previously assigned Assistant Commissioner following his transfer.

Approved assayers and valuers may be appointed to assay and value precious metals, jewellery, stones, valuable articles, and seized or confiscated goods. Applicants must meet prescribed qualification, experience, integrity, disclosure, and independence requirements, and are subject to verification, shortlisting, and interview. Appointed professionals must issue valuation certificates, remain available when required, maintain records, avoid conflicts of interest, and follow authorised fee arrangements. Misconduct, negligence, false valuation, or material non-disclosure may lead to suspension, cancellation, removal from the panel, and legal proceedings where warranted.