Company Registration: Mandatory KYC Of Existing Directors

directors kyc

As a part of amendments of MCA, the ministry has decided to done all the KYC of existing directors who has had din before 31 march 2018, it is mandatory for all the director weather qualified or disqualified director to done there KYC before the due date as decided by government (31 August 2018).

We have seen that government has done so many changes like reducing the fees of company registration, launching of RUN form instead INC-1, application of din by incorporation of the company, now in the series of theses decision for ease of doing business, he government of India also want some transparency and trying to find fake directors, this DIR-3 EKYC for is coming as a part of government initiative.

REASONS FOR KYC OF DIRECTORS?

The government of India is having a view that in many companies the person who is seems to be director of the company are not holding a position. Sometimes many shall companies owners use their drivers, cooks, etc. as directors of the company and they used their email id and phone no, so that the the person don’t know that they are directors in there company registration. This E-KYC would want unique emailed and mobile no, so that the person can be traced easily.

It is welcoming step of government of India trying to identify the fake DIN.

PROCEDURE OF E-KYC OF ALL DIRECTORS:

1. The E-KYC is mandatory for all the directors who has shown active or who has allotted din on or before 31 march 2018.

2. The person should have unique mobile no and unique email id. (Unique means that emailed and phone no should not used by any other person)

3. That email d and phone no, should be verified by OTP and on their emailed and phone no.

4. This form should be filled by DSC of all directors’.

5. The form should be duly certified BT CA/CS /CMA       

6. This form also be filled by disqualified directors also.

7. There must be filled e-form DIR-3 KYC

WHAT HAPPEND IF DIR-3 EKYC IS NOT FILLED?

If a director has not filled DIR-3 E-KYC form then the directors should be termed as deactivated or disqualified and all the penal provision should be attracted accordingly.

Some important notes:

1) Last date of filling this form is 31 august 2018.

2) Form will be mandatory for qualified and disqualified directors.

As a part of these series of decisions taken by government we also expect many such types of decisions in coming future, this is alarming time of those who use uses fake directors din for incorporation and for shall companies.

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