Question ID :
44925
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.
Posted by
CA. NAIR MANOJ GANGADHARAN
on
Oct 05, 2025
Filed Under
INSOLVENCY
1. ICAI permission needed? YES (Reg. 190A).
2. Form to file Form 117 via SSP portal.
3. Timeline 2–4 weeks for approval.
4. Can you be Executive Director? YES, after ICAI approval
5.CoP required? NO (you are an IP, should not hold CoP)
Posted by
CA. JHA SHANKAR KUMAR on
Nov 17, 2025