New Delhi, Sep 18 (KNN) As nearly 2.1 million directors of companies have failed to comply with KYC norms,  the Central government has started the process of deactivating their identification number.

The disclosure process undergoes for those who haven’t compiled with the norms by 15th September deadline, ministry of corporate affairs said.

The Director Identification Number (DINs) is a unique number allotted to individuals who are eligible to have directorship on the boards of registered companies.

Identification number will be reactivated after a fee payment of RS 5,000 along with the requisite form and the individuals concerned might also face action.

Ministry said, “out of 3.3 million active directors, only 1.21 million directors completed the KYC process. The balance of around 2.1 million individuals failed to comply with the requirement.”

The process of deactivating is likely to complete till 17th September, said ministry.

Crack down on shell companies by the government, which are suspected to be conduits for illicit fund flows, is the latest move by Corporate Affairs Ministry.

Ministry Of Corporate Affairs 21 system will mark all approved DINs allotted on or before March 31 this year. Whereas, if DIR-3 KYC form has not been filled will be marked as “deactivated”.

As per the ministry, reason for deactivation would be ‘non-filling of DIR-3 KYC’.