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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Review of Regulatory Framework for Asset Reconstruction Companies (ARCs)

11-Oct-2022 | RBI/2022-2023/128 DoR.SIG.FIN.REC.75/26.03.001/2022-23

RBI has amended the regulatory framework for Asset Reconstruction Companies (ARCs).
According to the amendments, the Chair of the Board shall be an independent director, the tenure of MD/ CEO or WTD shall not be for a period of more than 5 years at a time and the individual shall be eligible for re-appointment.
However, the post of the MD/ CEO or WTD shall not be held by the same incumbent for more than 15 years continuously.

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