Rule 3 Creation and maintenance of data bank
- Chapter
- I · The Databank
- Text as on
- 14 August 2026
3. Creation and maintenance of data bank.- (1) The instituteDefined in rule 2(b): institute means the 'Indian Institute of Corporate Affairs' notified under sub section (1) of section 150 of the Companies Act, 2013. (2)Word s and expressions used and not defined in these rules but defined in the Act shall have the same meanings as respectively assigned to them in the Act. shall create and maintain a databank of persons willing and eligible to be appointed as independent directors, and such databank shall be an on line databank which shall be placed on the website of the instituteDefined in rule 2(b): institute means the 'Indian Institute of Corporate Affairs' notified under sub section (1) of section 150 of the Companies Act, 2013. (2)Word s and expressions used and not defined in these rules but defined in the Act shall have the same meanings as respectively assigned to them in the Act..
(2) The data bank referred to in sub-rule (1) shall contain the following details in respect of each person included in the databank to be eligible and willing to be
appointed as independent director-
(a) DIN (Director Identification Number), if applicable;
(b) Income Tax PAN;
(c) the name and surname in full;
(d) the father's name;
(e) the date of Birth;
(f) gender;
(g) the nationality;
(h) the occupation;
(i) full Address with PIN Code (present and permanent);
(j) phone number;
(k) e-mail id;
(I) the educational and professional qualifications;
(m) experience or expertise, if any;
(n) any pending criminal proceedings as specified in clause (d) of sub-section (1) of section 164;
(0) the list of limited liability partnerships in which he is or was a designated partner along with -
(i) the name of the limited liability partnership;
(ii) the nature of industry; and
(iii) the duration- with dates;
(p) the list of companies in which he is or was director along with
(i) the name of the company;
(ii) the nature of industry;
(iii) the nature of directorship - Executive or Non-executive or Managing Director or Independent Director or Nominee Director; and (iv) duration - with dates.
(3) The information available in the data bank shall be provided only to companies required to appoint independent director after paying a reasonable fees to the instituteDefined in rule 2(b): institute means the 'Indian Institute of Corporate Affairs' notified under sub section (1) of section 150 of the Companies Act, 2013. (2)Word s and expressions used and not defined in these rules but defined in the Act shall have the same meanings as respectively assigned to them in the Act..
(4) A person whose name is included in the data bank, may restrict his personal information to the instituteDefined in rule 2(b): institute means the 'Indian Institute of Corporate Affairs' notified under sub section (1) of section 150 of the Companies Act, 2013. (2)Word s and expressions used and not defined in these rules but defined in the Act shall have the same meanings as respectively assigned to them in the Act., to be disclosed in the data bank.
(5) Any individual whose name appears in the data bank, shall make changes in his particulars within thirty days of such change through web based framework made available by the instituteDefined in rule 2(b): institute means the 'Indian Institute of Corporate Affairs' notified under sub section (1) of section 150 of the Companies Act, 2013. (2)Word s and expressions used and not defined in these rules but defined in the Act shall have the same meanings as respectively assigned to them in the Act. for this purpose.
(6) A disclaimer shall be conspicuously displayed on the website hos ting the databank that a company must carry out its own due diligence before appointment of any person as an independent director.
(7) The instituteDefined in rule 2(b): institute means the 'Indian Institute of Corporate Affairs' notified under sub section (1) of section 150 of the Companies Act, 2013. (2)Word s and expressions used and not defined in these rules but defined in the Act shall have the same meanings as respectively assigned to them in the Act., shall with th e prior approval of the Central Government, fix a reasonable fee to be charged from:-
(a) individuals for inclusion or renewal of their names in the data bank of independent directors; and
(b) companies for providing the information on independent directors available on the data bank.
(8) In case of delay on the part of an individual in applying to the instituteDefined in rule 2(b): institute means the 'Indian Institute of Corporate Affairs' notified under sub section (1) of section 150 of the Companies Act, 2013. (2)Word s and expressions used and not defined in these rules but defined in the Act shall have the same meanings as respectively assigned to them in the Act. under sub-rule (7) for inclusion of his name in the data bank or in case of delay in filing an application for renewal thereof, the instituteDefined in rule 2(b): institute means the 'Indian Institute of Corporate Affairs' notified under sub section (1) of section 150 of the Companies Act, 2013. (2)Word s and expressions used and not defined in these rules but defined in the Act shall have the same meanings as respectively assigned to them in the Act. shall allow such inclusion or renewal, as the case may be, under rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 after charging a further fees of one thousand rupees on account of such delay.
Explanation:- For the purpose of this rule, the expression "persons willing and eligible to be appointed as independent director" shall include individuals already serving as independent directors on the Board of companies .