{"id":250154,"date":"2021-06-22T17:49:02","date_gmt":"2021-06-22T12:19:02","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=250154"},"modified":"2021-06-22T17:49:02","modified_gmt":"2021-06-22T12:19:02","slug":"companies-creation-and-maintenance-of-databank-of-independent-directors-amendment-rules-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/06\/22\/companies-creation-and-maintenance-of-databank-of-independent-directors-amendment-rules-2021\/","title":{"rendered":"Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021"},"content":{"rendered":"<p style=\"text-align: justify;\">The Central Government makes the Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021 further to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/W302159Z\">Companies (Creation and Maintenance of databank of Independent Directors) Rules, 2019<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">The following amendment has been made:<\/p>\n<p style=\"text-align: justify;\">In Rule 3 of the Companies (Creation and Maintenance of databank of Independent Directors) Rules, 2019,<\/p>\n<ul style=\"text-align: justify;\">\n<li>in sub-rule (7)(a), after the words \u201cfor inclusion\u201d, the words \u201cor renewal\u201d shall be inserted.<\/li>\n<\/ul>\n<p class=\"j2\" style=\"padding-left: 40px;\"><span style=\"color: #008080;\">&#8220;7. The institute, shall with the prior approval <span id=\"Highlight_0090\" class=\"Highlight\">of<\/span> the Central Government, fix a reasonable fee to be charged from:\u2014<\/span><\/p>\n<p class=\"p3\" style=\"padding-left: 40px;\"><span style=\"color: #008080;\">(<i>a<\/i>) individuals for inclusion <strong>or renewal<\/strong> <span id=\"Highlight_0091\" class=\"Highlight\">of<\/span> their names in the data bank <span id=\"Highlight_0092\" class=\"Highlight\">of<\/span> <span id=\"Highlight_0093\" class=\"Highlight\">independent<\/span> <span id=\"Highlight_0094\" class=\"Highlight\">directors<\/span>; <span id=\"Highlight_0095\" class=\"Highlight\">and<\/span><\/span><\/p>\n<p class=\"p3\" style=\"padding-left: 40px;\"><span style=\"color: #008080;\">(<i>b<\/i>) <span id=\"Highlight_0096\" class=\"Highlight\">companies<\/span> for providing the information on <span id=\"Highlight_0097\" class=\"Highlight\">independent<\/span> <span id=\"Highlight_0098\" class=\"Highlight\">directors<\/span> available on the data bank.&#8221;<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li>after sub-rule (7), before explanation, the following sub-rule shall be inserted, namely:-<\/li>\n<\/ul>\n<p style=\"text-align: justify; padding-left: 40px;\">\u201c(8) In case of delay on the part of an individual in applying to the institute under sub-rule (7) for inclusion of his name in the data bank or in case of delay in filing an application for renewal thereof, the institute shall allow such inclusion or renewal, as the case may be, under rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 after charging a further fees of one thousand rupees on account of such delay.\u201d<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><span style=\"color: #000080;\">*Tanvi Singh, Editorial Assistant has put this story together.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Government makes the Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021 further to amend the Companies <\/p>\n","protected":false},"author":121,"featured_media":244192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-250154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Indulia","date":"August 20, 2021","format":false,"excerpt":"On August 19, 2021, the Ministry of Corporate Affairs (MCA) has issued the Companies (Creation and Maintenance of databank of Independent Directors) Second Amendment Rules, 2021 to further amend the Companies (Creation and Maintenance of databank of Independent Directors) Rules, 2019. \u00a0 Key highlights: \u00a0 Rule 6, which specifies Annual\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":268315,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/06\/13\/online-proficiency-test-mandated-for-databank-registration-vide-companies-appointment-and-qualification-of-directors-2nd-amendment-rules-2022\/","url_meta":{"origin":250154,"position":1},"title":"Online Proficiency test mandated for databank registration vide Companies (Appointment and Qualification of Directors) 2nd Amendment, Rules, 2022","author":"Editor","date":"June 13, 2022","format":false,"excerpt":"On 10th June, 2022, Ministry of Corporate Affairs (MCA) notified Companies (Appointment and Qualification of Directors) 2nd Amendment, Rules, 2022. These rules amend the Companies (Appointment and Qualification of Directors) Rules, 2014 with immediate effect. Rule 6 elaborates the process of creation of data bank by individuals offering to become\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-156.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-156.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-156.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-156.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-156.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":221482,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/25\/all-the-independent-directors-will-have-to-take-an-online-proficiency-self-assessment-test-companies-appointment-and-qualification-of-directors-fifth-amendment-rules-2019\/","url_meta":{"origin":250154,"position":2},"title":"All the Independent directors will have to take an online proficiency self-assessment test; Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019","author":"Bhumika Indulia","date":"October 25, 2019","format":false,"excerpt":"G.S.R. 804(E).\u2014 In exercise of the powers conferred by Section 149 read with Section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Appointment and Qualification of Directors) Rules, 2014, namely:- 1. (1) These rules may be\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":222936,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/07\/online-proficiency-assessment-test-for-independent-directors\/","url_meta":{"origin":250154,"position":3},"title":"Online Proficiency Assessment Test for Independent Directors","author":"Bhumika Indulia","date":"December 7, 2019","format":false,"excerpt":"Bhumesh Verma, Managing Partner and Utkarsh Mishra, Student Researcher, Corp Comm Legal Cite as: (2019) PL (CL) December 72","rel":"","context":"In &quot;OP. ED.&quot;","block_context":{"text":"OP. ED.","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/Corp-Comm-Legal-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/Corp-Comm-Legal-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/Corp-Comm-Legal-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/Corp-Comm-Legal-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/Corp-Comm-Legal-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":226431,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/02\/ministry-of-corporate-affairs-notifies-companies-appointment-and-qualification-of-directors-amendment-rules-2020\/","url_meta":{"origin":250154,"position":4},"title":"Ministry of Corporate Affairs notifies &#8212; Companies (Appointment and Qualification of Directors) Amendment Rules, 2020","author":"Bhumika Indulia","date":"March 2, 2020","format":false,"excerpt":"G.S.R. 145(E).\u2014In exercise of the powers conferred by section 149 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Appointment and Qualification of Directors) Rules, 2014, namely:- 1. (1) These rules may be called\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":222757,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/02\/mca-corporate-affairs-ministry-launches-independent-directors-databank\/","url_meta":{"origin":250154,"position":5},"title":"MCA | Corporate Affairs Ministry Launches Independent Director\u2019s Databank","author":"Bhumika Indulia","date":"December 2, 2019","format":false,"excerpt":"The Ministry of Corporate Affairs, with the objective of strengthening the institution of Independent Directors under the Companies Act,\u00a0 launched today the\u00a0Independent Director\u2019s Databank\u00a0in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder. 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