21 Lakh Company Directors Failed to Comply to Government’s KYC
The government recently came up with the move of identification of the directors of the companies through KYC and as many as 21 lakh out of 33 lakh directors of companies failed to comply with KYC norms. With this, the government has started the process of de-activating their identification numbers.
The Director Identification Numbers (DINs) is a unique number allotted to individuals who are eligible to have directorship on the boards of registered companies, and this number is going to be deactivated by the government. These will be re-activated only when the companies pay a fee of Rs 5,000 along with the requisite form and the individuals concerned might also face action.
This move by the Corporate Affairs Ministry is surely going to toughen the situation of the companies that are ...