Independent Directors Repository Portal Operationalized

Excel for
Chartered Accountants

What is Independent Directors Repository?
Section 150 of the Companies Act, 2013 provides for creation and maintenance of database of Independent Directors. This Independent Directors repository is a joint initiative of the three professional statutory bodies namely "The Institute of Chartered Accountants of India, The Institute of Company Secretaries of India and The Institute of Cost Accountants of India" under the active encouragement of the Ministry of Corporate Affairs, Government of India. This repository has been developed to facilitate the individuals who are eligible and willing to act as Independent Directors and also to facilitate Companies to select the persons who are eligible and willing to act as Independent Directors under section 150 of the Companies Act, 2013 and Rules made there under. However, these three institutes are not responsible for the correctness and the authenticity of the contents/ data/ information made available by the users of this Independent Director Repository.

Does registration with repository guarantees appointment?

Theregistration on this Independent Director Repository by a company does notguarantee the availability of suitable persons for appointment as IndependentDirectors by a company. Companies must carry out their own due diligence beforeappointment of any person as an Independent Director.

Who can register?
Any persons who is eligible and have requisite qualification, willing to act as independent director can apply for registration

What are the prescribed qualifications?

Rule 5 of the Companies (Appointment and Qualification of Directors) Rules, 2014 prescribes the Qualifications of independent director as under:
“An independent director shall possess appropriate skills, experience and knowledge in one or more fields of finance, law, management, sales, marketing, administration, research, corporate governance,technical operations or other disciplines related to the company’s business.”

Is there any charges or fee for registration?
Registration charges for a person, willing to act as an Independent Director in a company is 22.00 INR (Valid for one year)
Registration charges for Companies for selecting persons who are eligible and willing to act as Independent Directors is 99.00 INR (Valid for one year)

What information/documents are required for registration?
1.          DIN (Director Identification Number).
2.          If applicant is member of ICAI, ICSI or ICAI (Cost Accountants)then a valid Membership Number.
3.          Passport size photograph image in JPG format (size:50kb)
4.          One primary email ID
5.          Date of birth
6.          Telephone Number
7.          Following documents in pdf form
           a.       Identity Proof
           b.       Residence Proof
           c.       DIN Document
           d.       Curriculum Vitae (CV)
          Note: Total file size forupload should be Maximum 2 MB

What is the registration process?
1.       Visit to Independent Directors Repository website - https://independentdirector.in/login.aspx
2.       Under Registration > Independent Directors>New User>Register https://independentdirector.in/Registration.aspx
3.       Fill the required fields in the registration form
4.       Click all five check boxes seeking acceptance, fill the captcha characters
5.       Click on “Pay and register”
6.       As soon as the payment gets successful, application will show a receipt screen, from where the user can take a print out
7.       Cjeck, the primary email ID given at the time of registration for the retrieval of "login ID and password details"
8.       Go to the Login page https://independentdirector.in/login.aspx and login with the details received.
9.       After Login, the screen shows several tab-wise information.
          Personal Information, Educational and Professional Qualification(s), Professional Details and Work Experience,
          Limited Libaility Partnership, Directrship, Upload Documents and Final Submit
10.     Fill the details on "Personal Information" tab
11.     Upload your photograph by clicking on "Choose File" button, check the I agree box and click on "save and continue"
12.      Likewise click on Tabs of Education and Professional Qualification, Professional Details & Work Experience,
          Limited Liability Partnerships, Directorships and after filling the required details click on save and continue.
13.     Under Upload Documents tab browse and choose Identity Proof, Residence Proof, DIN Document, CV in pdf format.
         After uploading Click on "Save"
14.     Click on "Final Submit" tab. Review the filled information, if all information is correct, go to next else go to respective tab
          in order to update the "false" information
15.    Click on "Validate and Lock" Button after put a check on declaration text.

Note: Information can be uploaded in phases – starting with registration page and then entering/saving other pages. However, information would become accessible to companies only when ‘Validate & Lock’ button is pressed which placed at Final Submit Form as per para 15 above.

What is the registration Process Flow?
Registration Process Flow Chart can be accessed at https://independentdirector.in/pdf/PROCESSFLOWCHART.pdf