I read the government's requirement of certain executive roles + the requirement of it being an Indian citizen as the government having undue control over a private (foreign) company's executive positions. I'm still not familiar with the background on the mandating of these new executive roles, but wanting the person overseeing implementation of your country's laws to be from your country at least makes sense to me.

As far as the "controversial hash tag", that was a quote directly from the article. I feel like removing an entire hashtag related to a political position is generally a bad idea and can silence a lot of legitimate free speech, but I don't know enough on the specifics of this situation to apply that here.

Thanks for adding more context to clear up some misconceptions.