DIN – Read Regulatory & Company Updates, Academic & Research Articles InstaFinancials Blog

5Sep

By InstaFinancialsNo Comments

Academia

FAQs on DIR-3-KYC

The DIR-3 KYC filing window for every financial year ending at 31 Mar ends on 30th September of the following financial year. e.g. The last date for filing the DIR-3 KYC form for the FY 21-22 ends on 30 Sep 2022. All directors are requested to file the DIR-3 KYC form before the due date, as failing which the DIN of the respective director will be changed to "Deactivated Due to Non-Filing of DIR-3 KYC" and the Director will also be liable to pay the late filing fee of Rs 5,000, for filing after the due date. So, Please visit the DIR-3-KYC-WEB form to complete your KYC in time and avoid any penalty. But before that read a few frequently asked questions, mentioned in this article and clear your doubts! FAQs On DIR-3 KYC Who is required to file the DIR-3 KYC form? For the Financial...

Meet Compliance Requirements or Face Action: MCA Warns Defaulting Directors

5Nov

By No Comments

Corporate

Meet Compliance Requirements or Face Action: MCA Warns Defaulting Directors

The Ministry of Corporate Affairs (MCA) has notified defaulting directors to file their pending statutory returns and meet compliance requirements under the Companies Act, 2013. It is also confirmed that such directors may have to face the axe if they don’t comply with the mandate. As per Companies Act 2013, every company is required to do annual filing with the Registrar of Companies (ROCs). There are certain requisites to be observed by the companies, non-compliance of which can lead to stringent penalties, prosecution / disqualification of directors or even company closure. To achieve the compliance objective, the ROCs are in the process of identification and flagging of directors who have been disqualified for failing to file annual returns and financial statements f...

26Jul

By instaaccounts1 Comment

Uncategorized

eForm DIR-3 KYC

Please be aware that the Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019 have been notified w.e.f 25th July 2019. As per the said notification: i) eForm DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the DIN holder who has already filed his KYC once in eform DIR-3 KYC but wants to update his details. ii) Web service DIR-3-KYC-WEB is to be used by the DIN holder who has submitted DIR-3 KYC eForm in the previous financial year and no update is required in his details. Stakeholders may plan accordingly.

25Sep

By InstaFinancialsNo Comments

Academia, Corporate

Consequences of Not Complying with DIR-3 KYC Mandate

Ministry of Corporate Affairs had mandated Directors of all companies (Private Limited, Public Limited, OPC), and designated Partners in Limited Liability Partnerships (LLP), including both active and disqualified directors, to submit their KYC details by furnishing the DIR 3 KYC e-Form. This initiative taken by the Ministry of Corporate Affairs will have a great impact and help to curb fake and shell companies. These are the companies suspected to have conduits for illicit money laundering. MCA had told that there are about 50 Lakh DINs issued till date and out of which there are around 33 Lakh Active Directors in India who are mandated to comply with this KYC mandate. If any director fails to submit their DIR 3 KYC form on or before the due date the DIN number of such director will be ...