Individuals
The Ministry of Corporate Affairs and Indian Institute of Corporate Affairs (IICA) have introduced a comprehensive online databank for all existing and aspiring Independent Directors. This databank draws its origin from Companies (Appointment and Qualification) Rules, 2019. As per the rules, all existing Independent Directors need to empanel with this databank within 3 months of commencement of these rules. The empanelment process is quick and simple and it has been divided into three steps:
Mandatory Requirements:
• Valid DIN/PAN/Passport
• Registration in MCA Portal
Process in MCA Portal
Step-01
Step-02
Go to “ID Databank Registration” section under “MCA Services” and click on “Individual Registration.
Step-03
Enter DIN/PAN/Passport details and click on “Submit”.
Step-04
Enter email ID and mobile no. (if not pre-populated). Enter Country code and Click on “Send OTP”.
Step-05
Enter OTP & click on “Verify OTP”.
Step-06
Upon successful verification, click on “Proceed” button to receive credentials for Databank in email and mobile.
Process in Databank
Step-02
Fill profile with Personal, Educational, and Experience Details and submit declaration.
Step-03
After submitting details, pay subscription fee.
- Rs. 5,000 + 18% GST for 1 Year subscription
- Rs. 15,000 + 18% GST for 5 Years subscription
- Rs. 25,000 + 18% GST for Lifetime subscription
Corporate
Listed and unlisted companies can register themselves with the Independent Director’s Databank. The databank will serve as a one-stop repository of individuals, eligible and willing to be appointed as Independent Directors. For upscaling the standards of corporate governance practices in India, the regulatory requirements for appointing Independent Directors have been amended. Companies can register with the databank by following three easy steps:
Mandatory Requirements:
• Valid CIN
• Registration in MCA Portal
Process in MCA Portal
Step-01
Step-02
Go to “ID Databank Registration” section under “MCA Services” and click on “Corporate Registration”.
Step-03
Enter CIN details and click on “Submit”.
Step-04
Email ID will be pre-populated. Click on “Send OTP”.
Step-05
Enter OTP & click on “Verify OTP”.
Step-06
Upon successful verification, click on “Proceed” button to receive credentials for Databank in email.
Process in Databank
Step-02
Fill your company details, assign up to 2 designated officers, who will have access to Databank. Accept terms and conditions.
Step-03
After submitting details, pay subscription fee.
