Posted by Rakesh Kumar on 2024-03-09 11:03:38 | Last Updated by admin on 2024-11-21 08:42:18
#IICA, #Independent Director, #Independent Director Database,
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How to become an
Independent Director? How to add name in ID IICA Database and clearing Self Assessment Exam ?
Current
requirement under Companies Act 2013
For
a company to compulsorily appoint two independent directors, the following
minimum criteria should be fulfilled as per Section 149 of the Act:
1. The company should be a public company
and must have a turnover of either
Rs. 100 crores or more than that.
2. The company should be a public company
and must have a paid-up capital of
either Rs. 10 crores or more.
3. The company should be a public company
and must have a total debenture or
deposit of either Rs. 50 crores
or more.
Who
can become Independent Director?
Anyone
can become independent Director, there is no restriction. Members who register
in Independent Director Database has to pay fees and clear a Self-Assessment
test.
However,
in order to be eligible to be appointed as an independent director by a
company, individuals should fulfill the following basic criteria:
ü The individual should at least know
the nuances of the law and other associated regulations to help the company
grow.
ü The individual must also be
financially literate and be a person of integrity with the requisite skills in
order to be eligible for the same.
ü The individual should also have passed
the independent director online proficiency self-assessment test within two
years from the date of their registration on the independent director data
bank.
How
to Register for Database and clear Self-Assessment Test?
Independent
Directors Database Registration Process
Independent Directors
Database Registration process consists of two Parts-
1.
Registration
on MCA site
2.
Registration
on IICA site
Part A.
First go to MCA site by clicking on Login to MCA Portal. There are 5 steps for
:
Step 1: Login
to MCA Portal:
(a) Create a login on portal by
clicking https://www.mca.gov.in/content/mca/global/en/foportal/fo-user-registration.html
after login go to
(b) Fill your details and register as
a Registered User.
Remember: You can change your role from profile
after login.
Step 2: Go to ‘ID Databank Registration’ under Section ‘MCA Services’ and Click on ‘Individual
Registration’.
Step 3: Enter DIN/PAN/Passport details and click on “Submit”. If you have a valid DIN enter it and proceed accordingly.
Step 4: Enter email ID and mobile no. (if not pre-populated). Enter Country code and Click on “Send OTP”.
Step 5: Enter OTP & click on “Verify OTP”.
Part B. After completing all steps at MCA site.
You will be redirected at the portal or you can Click on Process of Empanelment
of Independent Directors on Databank. You can login using OTP or login if
already registered by entering password. Or else you register on new tab and
use that login details.
Step 1: Login to Independent Director's Databank. Use login with OTP if not registered earlier.
Step 2: Fill profile with Personal, Educational, and Experience Details and submit declaration.
Step 3: After submitting details, pay
subscription fee.
Registering
for Self-Assessment
Go
to Dashboard and scroll down to find Book Slot. You can do online course for
gaining knowledge. Also any change in profile can be done from option provided
here.
Click
on Book a slot for appearing in Self-Assessment Test. You will need a working
computer system or laptop with camera and mic. System will check, give
permission for camera and mic use. System will check other requirements
automatically. There are three slots daily you can book a day prior or for an
afternoon / night slot in morning itself.
·
Morning slot – 8 am to 9 am
·
Afternoon slot – 2 pm to 3 pm
·
Late evening slot – 8 pm to 9
pm
Important: You need to have a day’s gap to book
slot again.
You will
need to produce a valid ID and take a selfie to verify yourself. Your system
will be monitored and your video will be seen / recorded by the camera. You can
get help from +91 9311402293 or support.iica@thinkexam.com if there is any technical issue.
Exam
Pattern
The
independent director online proficiency self-assessment test will be based on
the knowledge of a candidate in the areas of company law, securities law, basic accounting and corporate governance.
The
independent director online proficiency self-assessment test consists of a
total of 50 multiple choice questions and 100 marks, which will further be
divided into the following two categories:
• Questions
on board essentials – 25 multiple choice questions of direct type
• Questions
on board practices – 25 multiple choice questions based on scenario
The time limit for the
candidate to attempt the above questions will be a total of seventy five (75)
minutes.
The
marking scheme
The
independent director online proficiency self-assessment test consists of a
total of 50 questions. Each correct question will award the candidates two
marks.
There
is no negative marking, and therefore, each wrong answer will award zero marks
to the candidates.
The
time limit for the exam is seventy five (75) minutes, which implies that the
average time allotted to each question will be around 1.5 minutes.
Important
points
The following points are
to be kept in mind by the candidate attempting the independent director online
proficiency self-assessment test:
1.
In
order to take the independent director online proficiency self-assessment test,
the candidate must register themselves on the independent director data bank.
2.
After
registering on the independent director data bank, the candidate must qualify
the independent director online proficiency self-assessment test in a span of
two years, or their name will be removed from the independent director data
bank.
3.
Any
candidate who has given the independent director online proficiency self-assessment
test and has an aggregate score of not less than 50 percent will be deemed to
be qualified for the examination.
4.
There
is no limit on the maximum number of attempts a candidate can make for the
exam; however, there must be a gap of one day between the slots in which the
candidate attempts the exam.
5.
Preferably
use incognito mode for exam. Result will be declared as you submit the exam.
6.
There
is no separate fees for appearing for exam.
Summery of exams
|
Name
of the exam |
Online Proficiency
Self-Assessment Test |
|
Name
of the conducting body |
The
Indian Institute of Corporate Affairs (IICA) |
|
Website
of the conducting body |
|
|
Website
of the exam |
|
|
Total
number of questions in the exams |
50 questions |
|
Time
allotted to the exam |
75 minutes |
|
Marks
awarded for the correct question |
2 marks |
|
Marks
awarded on the wrong question |
0 marks |
|
Types
of questions |
Multiple choice
questions |
|
Frequency
of the exam |
Three times a day |
|
Time
slot of the exam |
–
8 am to 9 am -
2 pm to 3 pm -
8 pm to 9 pm |
|
No.
of attempts |
Unlimited |
|
Technical
Help |
+91
9311402293 or support.iica@thinkexam.com |
Individuals who do not require passing the independent director
online proficiency self-assessment test
The
following individuals are not required to pass the independent director online
proficiency self-assessment test in order to be appointed as an independent
director:
1. Any person who currently is, or has
been, any of the following for at least ten years:
(a)
A practising Chartered Accountant, or
(b)
A practising Cost and Management Accountant,
or
(c)
A practising Company Secretary, or
(d)
A practising advocate of a court.
2.
Any person who currently is, or
has been, any of the following for not less than three years on the date of
inclusion of his name in the independent director data bank
(a)
A key managerial personnel or a director,
in at least any one of the following:
i.
a listed public company;
ii.
an unlisted public company having a
paid up share capital of Rupees 10 crores or more;
iii.
any body corporate which has been
incorporated outside India and has a paid-up share capital of US$ 2 million or
more;
iv.
any body corporate listed on any stock
exchange;
v.
any statutory corporation set up in
India;
(b)
Any individual working in any ministry
of department of any state or central government of India and having a pay
scale of director or its equivalent, with an experience in the field of
corporate affairs, commerce, etc.
+919650273111
