Companies (Appointment and Qualification of Directors) Second Amendment, Rule, 2022

MCA has issued Procedure for Restoration of Name in the Data Bank by the Independent Director under Companies Act, 2013

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Notification Date

10/06/2022

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Subject

Companies (Appointment and Qualification of Directors) Second Amendment, Rule, 2022

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Brief description

Procedure for Restoration of Name in the Data Bank by the Independent Director under Companies Act, 2013

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Additional information

Any individual desirous of being appointed as an Independent Director is required to pass an online proficiency self-assessment test conducted by the Institute (‘IICA’) within a period of 2 years from the date of inclusion of his name in the data bank, failing which, his name shall stand removed from the data bank of the IICA. 

Where an individual’s name has been removed from the databank, MCA now provides for restoration of his name by way of filing a restoration application along with the fee of Rs. 1,000/-The Institute shall allow such restoration subject to fulfilment of prescribed conditions.

Complete circular attached

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