MCA extends deadline for registration of independent directors

The Ministry of Corporate Affairs (MCA) has extended the deadline for registration of independent directors on its online databank till September 30. The previous deadline was June 30.

Referring to the extension of the timeline, a gazette notification said: “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.”

The ministry had launched the databank in December last year, which is meant to be a “comprehensive repository” of existing as well as eligible independent directors.

Initially, the independent directors were required to register themselves with the databank within three months starting December 1.

The MCA has also allowed companies to hold board meetings through video conference or other audio-visual means till September 30.