Mandatory Annual KYC of all Directors on or before 31 August 2018

Mandatory Annual KYC of all Directors on or before 31 August 2018

SHORT SUMMARY: As per the statement given this month by MCA Secretary Sh. Injeti Srinivas, MCA has formally announced the Annual KYC Drive through the e-form DIR-3 KYC. As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly. A. Who have to File DIR-3 KYC Every Director who has been allotted DIN on or before 31st march, 2018 and whose DIN status is Approved. B. What is due date of DIR-3 KYC Due date of filing of DIR-3KYC is on or before 31st August, 2018. C. Mandatory Information DIR-3 KYC Unique Personal Mobile Number Personal Email ID. OTP on Email ID and Mobile No. D. Certification of DIR-3 KYC DSC of Director DSC of practicing professional (CA/CS/CMA E. Whether Disqualified Directors required filing DIR-3 KYC Yes, Filing of DIR-3 KYC would be mandatory for Disqualified Directors also F. Effect of director fails to file DIR-3 KYC MCA21 system will mark all approved DINs (allotted on or before 31st March 2018)against which DIR-3 KYC form has not been filed as Deactivated with reason as Non- filing of DIR-3 KYC G. Consequences of filing of DIR-3 KYC after due date After the due date filing of DIR-3 KYC in respect of such deactivated DINs shall be allowed upon payment of a specified fee only, without prejudice to any other action that may be taken

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(Author CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at [email protected]) Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, I assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. I assume no responsibility for the consequences of use of such information. IN NO EVENT SHALL I SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION.