As per the provisions of the Companies Act, 2013 and the rules made thereunder, The Ministry of Corporate Affairs (MCA) on Monday launched a database of Independent directors.
The Databank was launched by Injeti Srinivas, Secretary, Ministry of Corporate Affairs.
The move has been taken to provide an easy to access & navigate platform for the registration of existing as well as those eligible and willing to be appointed as independent directors.
How the database will work?
Companies also may register themselves with the databank to search, select and connect with individuals who possess the right skills and attitude for being considered for appointment as Independent Directors.
Due date to register as a director in database
Therefore, as per the notified rules, all existing Independent Directors are required to register themselves in the databank by 1 March 2020 and pass an online proficiency self-assessment test within 12 months thereafter. The course will be available March 2020 onwards.
To register, the user must log into the MCA website, where the user will be directed to the Databank and the user is required to choose one of the Subscription Plans to access the e-learning and e-proficiency assessment modules.
In order to provide sufficient practice to individuals, a number of online mock Tests have also been made available in the system and the real test can be taken online through a simple scheduling process and will be remotely proctored.
Helping hands by MCA
- A publication named “Independent Directors Databank-Handbook covering key objectives, empanelment/registration process of an individual or corporate, and the knowledge resources available on the portal was also released.
- Various e-learning capsules and videos available in the system will enable Individual users to easily acquire knowledge from diverse resources, develop distinct skills, and assess their understanding on company operations, regulations, and compliance.