Constitution of advisory committee, executive committee or other committee The Board may, for the efficient discharge of its functions, may constitute advisory and executive committees or such other committees, as it may deem fit, consisting of a Chairperson and such other members as may be specified by regulations. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | […]

Powers and functions of Board (1) The Board shall, subject to the general direction of the Central Government, perform all or any of the following functions namely: – (a) register insolvency professional agencies, insolvency professionals and information utilities and renew, withdraw, suspend or cancel such registrations; 1[(aa) promote the development of, and regulate, the working and practices of, insolvency professionals, insolvency professional agencies and information

Power to designate financial sector regulator Until the Board is established, the Central Government may by notification, designate any financial sector regulator to exercise the powers and functions of the Board under this Code. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing

Vacancies etc., not to invalidate proceedings of Board, and Officers and employees of Board (1) No act or proceeding of the Board shall be invalid merely by reason of – (a) any vacancy in, or any defect in the constitution of, the Board; or (b) any defect in the appointment of a person acting as a member of the Board; or

Member not to participate in meetings in certain cases Any member, who is a director of a company and who as such director has any direct or indirect pecuniary interest in any matter coming up for consideration at a meeting of the Board, shall, as soon as possible after relevant circumstances have come to his knowledge,

Meetings of Board (1) The Board shall meet at such times and places, and observe such rules of procedure in regard to the transaction of business at its meetings (including quorum at such meetings) as may be determined by regulations. (2) The Chairperson, or if, for any reason, the Chairperson is unable to attend any meeting of the Board, any other member chosen by

Powers of Chairperson ave as otherwise determined by regulations, the Chairperson shall have powers of general superintendence and direction of the affairs of the Board and may also exercise such other powers as may be delegated to him by the Board. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax

Removal of member from office The Central Government may remove a member from office if he- (a) is an undischarged bankrupt as defined under Part III; (b) has become physically or mentally incapable of acting as a member; (c) has been convicted of an offence, which in the opinion of Central Government involves moral turpitude; (d) has,

Constitution of Board. (1) The Board shall consist of the following members who shall be appointed by the Central Government, namely: – (a) a Chairperson; (b) three members from amongst the officers of the Central Government not below the rank of Joint Secretary or equivalent, one each to represent the Ministry of Finance, the Ministry of Corporate Affairs and Ministry