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<h1>New Rule Requires Annual Capacity Building Report for Independent Directors, Sent Within 60 Days Post-Financial Year.</h1> The Companies (Creation and Maintenance of Databank of Independent Directors) Second Amendment Rules, 2021, effective from its publication date, introduce a new rule requiring an annual report on capacity building for independent directors. This report, prepared by the institute, is to be sent within 60 days after each financial year to individuals listed in the databank and companies where they serve as independent directors. The report format, detailed in the Schedule, includes participation in e-learning modules, training programs, and events. This amendment follows previous rules established in 2019 and amended in June 2021.