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MCA provides additional relaxations to independent directors for Online Proficiency Test
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Synopsis
The ministry also amended the rules regarding the transfer of shares of minority shareholders of a company undergoing a merger or amalgamation, to provide for further checks on intimation and payment to such shareholders.
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The passing criteria for the test has been reduced to 50% from 60% before, according to a notification on Friday.
In further relief to independent directors, the ministry of corporate affairs (MCA) relaxed both the requirements and timelines for the online self-assessment proficiency test such directors must take under the amended Companies (Appointment and Qualification of Directors) Rules, 2014. ....

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