The Ministry of Corporate Affairs (MCA) has announced certain amendments to the various provisions under the Companies Act, 2013 (Act) and Rules on June 1, 2022.
The amendments tighten the provisions regarding the appointment of an individual from neighboring countries as a Director in an Indian company.
The amendments are summarized below:
- Rule 8 of the Companies (Appointment and Qualification of Directors)
- In case of seeking the appointment
- Rule 10 (1) of the Companies (Appointment and Qualification of Directors)
- In case of applying for the Director of Identification Number
- Form DIR - 2 (Consent to act as Director) & Form DIR - 3 (Application for DIN)
- Additional declaration
Download our latest Regulatory Alert to learn more about the amendments and our commentary on their implications below. For more information, please contact Vinay Sancheti, Head of India & UAE Sales of Tricor India at vinay.sancheti@nexdigm.com or ThinkNext@nexdigm.com.