Pursuant to the Companies (Creation and Maintenance of Databank of Independent Directors) Rules, 2019 (‘Independent Director Rules’) notified on October 22, 2019, the Indian Institute of Corporate Affairs (‘Institute’) is required to create and maintain an online databank of independent directors currently serving on the board of companies as well as other persons willing and eligible to be appointed as independent directors and provide it to companies required to appoint independent directors under the Companies Act, 2013 (‘Companies Act’). The databank will inter alia contain information on such person’s qualifications, experience and expertise, occupation, pending criminal proceedings under Section 164(1)(d) of the Companies Act, list of directorships / designated partner positions etc. Additionally, prior to inclusion in the databank, the Institute should conduct an online proficiency self-assessment test of such persons on companies law, securities law, basic accounting and other relevant topics.