Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2020

Pursuant to Rule 6(1)(a) of the Companies (Appointment and Qualification of Directors) Rules, 2014, individuals appointed as independent directors as of October 22, 2019 are required to apply for inclusion of their names in the data bank of independent directors maintained in accordance with the Companies Act. The MCA on June 23, 2020 has increased the time period for complying with this requirement to 10 months (instead of 7 months) from October 22, 2019.

Published In:Inter Alia - Quarterly Edition - June 2020 [ English
Date: June 30, 2020