The Companies (Creation and Maintenance of databank of Independent Directors) Rules, 2019. - F. No. 8/4/2018-CL-I - G.S.R. 805(E). - Companies Law

Databank of independent directors established to centralise candidate details and provide fee based access for appointing companies.

The rules require the Indian Institute of Corporate Affairs to create and maintain an online databank of persons willing and eligible to be appointed as independent directors, containing specified identity, contact, qualification, professional and directorship details, disclosure of pending criminal proceedings, and historic LLP and company roles. Access is limited to companies required to appoint independent directors for a reasonable fee; individuals may restrict disclosure and must update changes within thirty days. The institute must provide proficiency tests and study material at no separate charge and share daily cumulative lists of inclusions, rejections and removals with the Central Government.