The Ministry of Corporate Affairs (MCA) has allowed one more year for passing the Online Proficiency Self-Assessment Test by Independent Directors. The step has been taken considering several representations from stakeholders and interest at large. Initially, Independent Directors were required to pass the test within two years from the date of their registration with the Databank, if not exempted. However many of them couldn’t pass the test within stipulated timeframe.
As per the latest Notification, those who couldn’t pass the test within two years and their name has been removed from the Databank, can apply for restoration of his/her name on payment of fee as prescribed. After restoration of name, such Independent Director has to pass the test within one year from the date of such restoration failing which his name will be remove permanently from the databank and then he/she will have to apply afresh for inclusion of his/her name in the Databank.
Click here for the MCA Notification
