Ministry of Corporate Affairs (MCA) vide notification dated 28.02.2020 has amended Rule 6 of Companies (Appointment and Qualification of Directors), 2014.
1. MCA has extended the limit of
registration of person in the Data Bank for Independent Directors from 3 months
to 5 months i.e last date for registration in the Data Bank is 30th
April, 2020.
2. An Individual who has
served as a director or key managerial personnel, for a total period of not
less than ten years, as on the date of inclusion of his name in the databank,
in one or more of the
· Listed
Company;
· Unlisted
Company having paid up capital of Rs.10 CR or more;
· Body corporate (newly inserted) listed on a recognized stock exchange will be
exempt from giving proficiency test.
3. For the purpose of calculation of
the period of ten years referred to in the first proviso, any period during
which an individual was acting as a director or as a key managerial personnel in
two or more Companies or Body Corporate (newly inserted) at
the same time shall be counted only once.
Please find below the link of aforesaid notification:
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