Lower min age for MD, directors to 18: Parliamentary panel
A parliamentary panel in India has recommended lowering the minimum age for company directors from 21 to 18. The proposal aims to encourage youth representation on corporate boards and align Indian regulations with international standards.
Why it matters
This change could significantly impact corporate governance and youth participation in the Indian business sector.
NEW DELHI: The joint committee of Parliamentary panel examining the amendments to the Companies Act has recommended reducing the minimum age for appointment as managing director and whole-time director from 21 years to 18, bringing it in line with similar age caps in the US, Singapore, Germany and Australia. It has also backed raising the maximum age from 70 years to 75, without the requirement of a special resolution.“During the deliberations, a general consensus within the committee arose as to lowering of the minimum age from 21 to 18 years. The ministry (of corporate affairs) has informed that similar suggestions were received from HLC-Niti Aayog in order to encourage and increase the representation of young people on boards...,” the panel chaired by Sudheer Gupta said in the report tabled in Parliament.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in