The Ministry of Corporate Affairs had amended the Companies (Appointment and Qualification of Directors) Rules, 2014 vide Notification dated 10th June 2022.
Any individual whose name has been removed from the data bank of Independent director as a result of not passing the online proficiency self-assessment test conducted by the Indian Institute of Corporate Affairs may apply for restoration.
Steps to be taken for restoration of the name
Apply for restoration of the name : Fees for restoration application : Rs 1000
On successful application her/his name shall be shown under a separate category “restored category”.
The name of such individual shall remain in the “restored category” for a period of one year from the date of restoration
For the individual’s name to move from the restored category to the data bank of Independent Director: he/she has to pass the online self proficiency test within the above mentioned one year.
If he/she passes the Self proficiency test within the said one year, (1 year from date of restoration) her/his name shall be included in the data bank.
Also the fees paid by him at the time of initial registration shall continue to be valid for the period for which the same was initially paid.
If he/she fails to pass the online proficiency self-assessment test within one year from the date of restoration, his name shall be removed from the data bank.
He shall be required to apply afresh under sub-rule (1) for inclusion of his name in the databank.
Note: an individual who has obtained a score of not less than fifty percent in aggregate in the online proficiency self-assessment test shall be deemed to have passed such test.
