MCA also gives three more months for independent directors to register with online databank
The Ministry of Corporate Affairs (MCA) has given three more months for independent directors to register in the online databank launched in December last year.
Independent directors of companies had to register by June 30 this year, but can now do so till end of September, the MCA has said.
In a separate development, the MCA has also extended by three more months — ie up to September 30 — the window for conduct of board meetings through video conferencing for approval of annual financial statements; audit committee meetings; board’s report; prospectus and approvals relating to amalgamation, mergers etc.
The latest move comes in the backdrop of the Covid-19 induced lockdown affecting functioning of corporates in the country.
Independent directors’ registration
It may be recalled that the independent directors databank was jointly launched by the MCA and Indian Institute of Corporate Affairs (IICA) on December 2 last year. This databank aims to strengthen the institution of independent directors, create a pool of skilled professionals and build an ecosystem to serve existing independent directors, aspiring professionals and companies.
Source: The Hindu BusinessLine
