MCA has vide notification no. G.S.R. 804(E) dated 01st December, 2019 introduced new rules called the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019 for person eligible and willing to be appointed as an Independent Director. The rule states the compliances to be carried out before the appointment of independent director as well for those who are already appointed.
These rules are applicable to:
1) Who has been already appointed as an Independent Director in a company;
2) Who intends to get appointed as an Independent Director in a company.
1. An individual not having any DIN may also apply for inclusion of his name voluntarily;
2. No renewal required for individual who has paid life time fees;
3. An individual who has served 10 years or more as on date of inclusion of name in the databank as director or KMP in a listed company or in an unlisted public company having a paid-up capital of Rs. 10 crore or more shall be exempted from passing online proficiency self-assessment test.
PROCESS OF REGISTRATION:
1. Log in to MCA website mca.gov.in and insert your MCA credentials;
2. Go to MCA services and click on ID databank service- Individual registration;
3. Enter your DIN/Pan number;
4. Send OTP to your mobile number;
5. After entering OTP, you will receive your ID and password;
6. Go to independentdirectorsdatabank.in and login with the id and password received in your mobile number;
7. Fill up all the mandatory details and click on submit;
8. Pay the prescribed fees.
1. End Date for empanelment of existing Independent Directors – February 29, 2020
2. Start date for Mock (Practice) Test – December 2nd, 2019 onwards
3. Start date for online proficiency self-assessment test – March 01, 2020
4. Start date for corporate access and search facility – March 01, 2020.
PROFICIENCY SELF ASSESSMENT TEST AND SUBJECTS: