How can HR managers, compliance professionals and entrepreneurs become Independent Directors (IDs) on the board of a company? <\/p>\n\n\n\n
What exactly does an ID do?<\/p>\n\n\n\n
What are the eligibility criteria to become an ID? <\/p>\n\n\n\n
What is the nature of the self-assessment test that the majority of IDs now need to clear?<\/p>\n\n\n\n
How difficult is it to clear the test?<\/p>\n\n\n\n
You may already know some of the answers, and at LawSikho, we will provide the rest \u2013 and much more \u2013 on how experienced professionals can become Independent Directors. <\/p>\n\n\n\n
270+ professionals cleared the self-assessment test through expert-led preparation. The syllabus is manageable \u2014 with the right guidance.<\/p>
The 30-Day Independent Director Program covers the full IICA exam syllabus across 12 live sessions \u2014 Company Law, Securities Law, Corporate Governance, and Accountancy \u2014 with daily quizzes and 200+ pages of study material designed for senior professionals.<\/p>
Just to give you some context: Section 149(4) of the Company Act 2013 provides that every listed public company must have at least one-third of the total number of directors as IDs.<\/p>\n\n\n\n
For unlisted public companies, Rule 4 of The Companies (Appointment and Qualification of Directors) Rules, 2014, mandates that the following are required to appoint at least two Independent Directors: <\/p>\n\n\n\n
Additionally, Section 150 of the Company Act prescribes the manner in which IDs are to be selected, and provides for a databank containing names, addresses and qualifications of persons who are eligible and willing to act as IDs. <\/p>\n\n\n\n
Accordingly, the Ministry of Corporate Affairs and the Indian Institute of Corporate Affairs (IICA) have developed a databank of Independent Directors, after joining which an individual must clear the online self-assessment test. <\/p>\n\n\n\n
The Companies (Appointment and Qualification of Directors) Fifth Amendment Rules 2019 require all existing IDs as well as professionals aspiring to become IDs to apply online to the IICA for registration in the databank.<\/p>\n\n\n\n
All IDs thus registered must clear the online proficiency self-assessment test<\/strong> conducted by IICA within two years from the date of inclusion of their name in the databank.<\/p>\n\n\n\n Failing to pass the test within the stipulated period shall result in the removal of the individual\u2019s name from the databank, though they may re-register for a small fee. But they will still need to clear the test as before. <\/p>\n\n\n\n A small group of individuals are exempt from the test, and a full list is available on the Independent Directors Databank website<\/a>. Among them are those who at the time of registering their names are, or have been, for at least 10 years<\/strong>:<\/p>\n\n\n\n i. An advocate of a court; or<\/p>\n\n\n\n ii. In practice as a chartered accountant; or<\/p>\n\n\n\n iii. In practice as a cost accountant; or<\/p>\n\n\n\n iv. In practice as a company secretary<\/p>\n\n\n\n But the test is mandatory for all other professionals. <\/p>\n\n\n\n The test is mandatory for most professionals. Clearing it in the first attempt is entirely achievable \u2014 with structured preparation.<\/p> Many professionals on the 30-Day Independent Director Program cleared the self-assessment test in their first attempt with just 2 hours of daily preparation. 270+ have done it. The program covers exactly what you need.<\/p> Of course, we will provide a detailed breakdown of these topics when required. <\/p>\n\n\n\n Total marks – 100<\/p>\n\n\n\n Total number of MCQs – 50<\/p>\n\n\n\n Total test duration – 75 minutes<\/p>\n\n\n\n Marks assigned to each question – 2 <\/p>\n\n\n\n Average time allotted to each question – 1.5 minutes<\/p>\n\n\n\n Board Essentials \u2013 direct questions<\/p>\n\n\n\n Board Practice \u2013 scenario-based questions<\/p>\n\n\n\n An individual who has obtained a score of not less than 60 per cent in aggregate in the self-assessment test shall be deemed to have passed the test. There is no limit to the number of attempts an individual may make to clear the self-assessment test.<\/p>\n\n\n\n You’ve seen the syllabus. The real question is which topics carry the most weight \u2014 and which ones trip up most candidates.<\/p> 50 MCQs. 60% to pass. The difference between first-attempt success and multiple retakes usually comes down to knowing where to focus. The 30-Day Independent Director Program gives you expert intelligence on exam patterns, question distribution, and the modules that matter most.<\/p> No matter what anyone tells you, the test is really not that difficult for a senior professional. Just scroll up and look at the syllabus again, or go through some of the key responsibilities of an ID:<\/p>\n\n\n\n As compliance professionals, entrepreneurs, or HR professionals, many of you have probably already performed some of these duties, and have first-hand experience of the subjects in the syllabus. All you need now is to channelise your learnings and experience in a focused manner, which we will help you with.<\/p>\n\n\n\n Life as an Independent Director is not just immensely prestigious, but financially rewarding too. The job also offers a healthy work-life balance, and a chance for you to put your cross-functional experience to excellent use. <\/p>\n\n\n\n All you need is some guidance and help in clearing the self-assessment test, which we are happy to provide. I invite you to connect with us by contacting our counsellors on +91 98186 78383 (10.00 am-8.00 pm IST)<\/strong> or emailing us at <\/strong>counselling@lawsikho.in<\/strong><\/a>, to know more. <\/p>\n\n\n\n The test is one step. The 30-Day Independent Director Program takes you all the way \u2014 exam, databank, and board appointment.<\/p> Clearing the self-assessment test gets you on the databank. Getting appointed requires a different kind of preparation entirely. 15+ program alumni are now Independent Directors on boards of listed companies \u2014 including BSE 200. The program covers the full journey, not just the exam. 400+ senior professionals have enrolled.<\/p>Scheme of the self-assessment test<\/strong><\/h2>\n\n\n\n
Broad topics covered<\/h3>\n\n\n\n
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Marking scheme<\/strong><\/h3>\n\n\n\n
Break-up of questions<\/strong><\/h3>\n\n\n\n
What does it take to clear the test?<\/strong><\/h2>\n\n\n\n
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