As per MCA Notification dated 22nd October 2019,—In exercise of the powers conferred by sub-section (1) of section 150 of the Companies Act, 2013 (18 of 2013), the Central Government hereby notifies the Indian Institute of Corporate Affairs at Manesar (Haryana), as an institute to create and maintain a data bank containing names, addresses and qualifications of persons who are eligible and willing to act as independent directors, for the use of the company making the appointment of such directors.
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Effective Date
w.e.f the 1st day of December 2019.
How to Access the Data Bank
The data bank launched by the MCA can be access at www.mca.gov.in or www.independentdirectorsdatabank.in is a pioneering initiative of the Ministry to provide an easy to access & navigate platform for the registration of existing Independent Directors as well as individuals aspiring to become independent directors.
Purpose of Data Bank
Data bank is developed & Maintained by IICA, It provides for a wide array of elearning courses on various topics including the Companies Act, Securities laws, basic accountancy, board practices, board ethics and board effectiveness. A number of value-added services are expected to be rolled out through the portal for capacity building of Independent Directors.
How to Register on Data Bank
As per the notified rules, all existing Independent Directors are required to register themselves in the data bank within 3 months from effective date i.e 01 December 2019.
They are also required to pass a basic online proficiency self-assessment test which will available from March 2020 onwards within 12 months thereafter. In order to provide sufficient practice to individuals, a number of online mock Tests have also been made available in the system.
Steps to be followed for Registration
Step:1 Log in through the user account on the Website of the Ministry,
Step:2 Upon log in the user will be directed to the Data bank,
Step:3 If you have DIN then by submitting DIN and OTP shall be generated at your registered mobile no. & by submitting OTP you can verify your details,
Step:4 Choose one of the Subscription Plans to access the e-learning and the eproficiency assessment modules.
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