Question ID : 21531

Permission to hold Directorship

I am a fellow member and do not hold CoP. I am also an Insolvency Professional (IP) registered with IBBI and IIIPICAI. My other IP colleagues (not all of whom are CA's) along with myself are planning to incorporate an IPE ( as a Pvt. Ltd Co.) where we will be shareholders. I will take up position as an Executive Director in the IPE. Please advise if any prior permission/approval is required from ICAI. If so what are the relevant forms to be submitted and what is the timeframe for getting the approval.

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