The Ministry of Corporate Affairs vide its Notification dated 29th April 2020 has published the Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020.
The Amendment is brought under rule 6 which deals with compliances required from a person eligible and willing to be appointed as an independent director. As per the modified deadline, An individual who has been appointed as an independent director shall within seven months apply online to the institute for inclusion of his name in the data bank for a period of 1 year or 5 year or for his life-time and from time to time shall take steps to renew it as long as he continues hold the office as an independent director in any company.
Click here to read the Notification.
