Data Bank for Independent Director : Company Law

Companies (Creation and Maintenance of databank on Independent Directors) Rules, 2019″ on 22nd October 2019 also alongside new rules on databank of Independent Directors, MCA have notified “INDIAN INSTITUTE OF CORPORATE AFFAIRS” located at Manesar, Gurugram (Haryana) as an “institute having expertise in creation and maintenance of such databank”

What is the effective Date of these rules

The provisions of these rules shall come into force with effect from the 1st day of December, 2019.

How can I Access this Data Bank

The databank which can be accessed at ‘www.mca.gov.in’ and ‘www.independentdirectorsdatabank.in’ would provide an easy to access and navigate platform for the registration of independent directors

What is the Purpose of creation of this 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.

What is due date of registration with Indian Institute of Corporate Affairs at Manesar (Haryana)

All Existing Independent Directors

All Existing Independent Directors have to get themselves registered within 3 months from commencement of rule i.e. 01st December 2019

Therefore Last Date is 29th December 2020

Individuals willing to be Independent Director

Any person willing to be appointed as ID after the commencement of this rule i.e. 01st December 2019 have to get themselves registered before they get appointed

How can I register with Indian Institute of Corporate Affairs at Manesar (Haryana)

1. Login to http://www.mca.gov.in/mcafoportal/iicaDirService.do
2. You need to create your user account with MCA
3. Upon log in the user will be directed to the Data bank
4. Choose one of the Subscription Plans to access the e-learning and  assessment modules.

What kind of subscription plan are available

There are three different subscription plans available – 1 Year, 5 Years, and Life time.

Tags : Company Law

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