The Institute of Chartered Accountants of India (ICAI) today said an online repository of independent directors to help individuals seeking such directorship as well as companies looking to appoint one for the position, has become operational. The repository is a joint initiative of ICAI, the Institute of Company Secretaries of India (ICSI) and the Institute of Cost Accountants of India. The repository comes in the backdrop of the Companies Act, 2013 mandating creation and maintenance of a database of independent directors. "The portal would help to facilitate the individuals who are eligible and willing to act as Independent Directors and also facilitate companies to select persons who are eligible and willing to act as independent directors," ICAI said in a statement.
Read the Economic Times news report here.