Lower min age for MD, directors to 18: Parliamentary panel

A parliamentary panel recommended lowering the minimum age for managing directors and whole-time directors from 21 to 18 years.

The panel backed raising the maximum director age from 70 to 75 years without a special resolution.

The committee recommended creating special NCLT benches for insolvency matters to ensure strict adherence to resolution timelines.

The panel proposed retaining the Rs 10 crore net profit threshold for CSR applicability and allowing in-kind contributions for small companies.

A new chapter was proposed to enable seamless re-domiciliation of foreign companies to IFSC without winding-up in their home jurisdiction.