ENA Sectors 2018-09-21 06:58:00 <p><strong>New Delhi, Sept 21 (KNN)</strong> Registered directors get another chance by the Ministry of Corporate Affairs to complete their KYC (know-your-customer) formalities on payment of a lower penalty of Rs 500 instead of Rs 5,000 that was proposed earlier. </p> <p>The window will re-open for fortnight for directors to complete their formalities and get free from the process of deactivation of DINs.</p> <p>There are approximately 50 lakh individuals with Director Identification Number (DIN). Out of which 33lakh are considered to be active.</p> <p>Further, only 12 lakh directors have complied with the new norms within the deadline, which ended earlier, with the ministry deciding to freeze other DINs. </p> <p>The government decided to extend the period because, several stakeholders complained about difficulties in complying with the rules, including problems with the website.</p> <p>Looking into the matter the government has given another 15 days for the completion of the process.</p> <p>A KYC process will be carried out by the ministry in June for all directors, including those who have been disqualified. </p> 20890 https://knnindia.co.in/news/newsdetails/sectors/directors-get-another-15-days-for-kyc-compliance 2018-09-21 06:58:00 knnindia.co.in