Panel proposes lowering minimum director age to 18, raising upper limit to 75

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A parliamentary panel has recommended reducing the minimum age for company directors and managing directors to 18 years, while also proposing to raise the upper age limit to 75. The committee has called for dedicated NCLT benches to handle insolvency cases, aiming to improve efficiency in asset resolution. It has suggested retaining the existing Rs 10 crore net profit threshold that determines CSR obligations for companies. The panel also proposed new provisions to allow foreign companies to re-domicile seamlessly to the International Financial Services Centre (IFSC).

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