The Ministry of Corporate Affairs (MCA) has announced an extension of the deadline for the registration of independent directors on its databank online. The earlier deadline was June 30th. It has now been extended to September 30th given the current pandemic situation and slow down of the economy.
A recent gazette notification has been quoted: “In the Companies (Appointment and Qualification of Directors) Rules, 2014, in rule 6, in sub-rule (1), in clause (a), for the words ‘seven months’ the words ‘ten months’ shall be substituted.” with respect to the extension of this timeline.
The Ministry of Corporate Affairs launched a databank in December 2019 as a means of creating a comprehensive repository of existing independent directors and individuals that are eligible. After the launch of this initiative, independent directors were required to register themselves with the MCA databank within 3 months starting December 1st. This deadline has been increased before with the latest extension until September 30th.
 has announced an extension of the deadline for the registration of independent directors on its databank online.){kind=link}