ENA Sectors 2018-09-18 07:21:52 <p><strong>New Delhi, Sep 18 (KNN) </strong>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.</p> <p>The disclosure process undergoes for those who havent compiled with the norms by 15th September deadline, ministry of corporate affairs said.</p> <p>The Director Identification Number (DINs) is a unique number allotted to individuals who are eligible to have directorship on the boards of registered companies.</p> <p>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.</p> <p>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.</p> <p>The process of deactivating is likely to complete till 17th September, said ministry.</p> <p>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.</p> <p>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.</p> <p>As per the ministry, reason for deactivation would be non-filling of DIR-3 KYC.</p> 20861 https://knnindia.co.in/news/newsdetails/sectors/deactivation-of-din-in-progress-for-non-compliance-of-kyc-by-company-directors 2018-09-18 07:21:52 knnindia.co.in