LEGISLATION
1. Companies (Creation and Maintenance of databank of
Independent Directors) Second Amendment Rules, 2021
The Ministry of Corporate Affairs notified the Companies
(Creation and Maintenance of databank of Independent Directors)
Second Amendment Rules, 2021 on 19th August, 2021. The
new amendment provides that the Indian Institute of Corporate
Affairs (IICA), shall send an annual report to every individual
whose name is included in the data bank and also to every company
in which such individual is appointed as an independent director,
within 60 days from the end of every financial year.
This amendment also prescribes the format to issue the Annual
report.
2. Companies (Appointment and Qualification of
Directors) Amendment Rules, 2021.
