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05/07/2018 02:19pm

Ministry of Corporate Affairs to conduct KYC for all directors of companies annually

image Ministry of Corporate Affairs to conduct KYC for all directors of companies annually

New Delhi, July 5 (KNN) The Ministry of Corporate Affairs Ministry (MCA) has decided that it would conduct KYC for all directors of companies annually through a new form -- DIR-3 KYC -- to be notified shortly.

Accordingly, it would become mandatory for every director who has been allotted DIN on or before March 31, 2018 and whose 'DIN' is in 'approved' status, to file form DIR-3 KYC on or before August 31, 2018.

This form should be duly certified by a practising professional (CA/CS/CMA). Filing of DIR-3 KYC would be mandatory for disqualified directors also, the MCA has said.

After expiry of the due date by which the KYC form is to be filed, the MCA-21 system will mark all approved DINs (allotted on or before March 31, 2018) against which DIR-3 KYC forms have not been filed as 'deactivated' with reason as 'non-filing of DIR-3 KYC'.

After the due date, filing of DIR-3 KYC in respect of such deactivated DINs would be allowed upon payment of a specified fee, the MCA has said. (KNN Bureau)

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