Independant Directors New Rules

Under new Independent Directors rules the two things have to be done by every directors (Existing or New):

1. They have to register themselves in the Databank of Indian Institute of Corporate Affairs (IICA), Manesar Haryana:

• Every Directors means who are already appointed as Independant Directors before the commencement of these rules i.e. 1st Dec 2019 and 
• Who willing to get appointed as Directors after the commencement of these rules i.e. 1st Dec 2019
•  Individual who already appointed as Director of the company shall register themselves within 3 months from the commencement of these rules i.e. 1st March 2020
• Every New directors shall register themselves before they get appointed in the company. 
• Individual Directors can made application for registration for a period of 1 years or 5 years or lifetime.

 2. They have to clear Common Proficiency Test conducted by Indian Institute of Corporate Affairs (IICA), Manesar Haryana:

• IICA has been authorised to maintain a data bank of Eligible and Experience independent directors. 
• They have to pass Common Proficiency Test within one year of inclusion of their name into IICA Data Bank.
•  If the test not taken within one year than their name stand removed from databank.
• Passing Marks will be 60 %.
• There is no limit for CPT attempts.

Source:http://mca.gov.in/