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Showing posts from July, 2018

Directors KYC - A unique decision by Indian Government

Introduction Much awaited form for Directors KYC – DIR 3 KYC has been notified vide Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018 (effective from 10th July, 2018) . Due to lack of database of every individual having approved DIN, MCA is conducting KYC of all Directors of all companies annually through a new e-form viz. DIR-3 KYC for updating its registry. Accordingly, every Director who has been allotted DIN on or before 31 st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC on or before 31 st August, 2018 and from next year onwards, every year on or before 30 th April. After expiry of the due date by which the KYC form is to be filed, the MCA21 system will mark all approved DINs (allotted on or before 31 st March, 2018) against which DIR-3 KYC form has not been filed as ‘Deactivated’ with reason as ‘Non filing of DIR-3 KYC’. Before due date the form f