DIRECTOR KYC | COMPANIES (APPOINTMENT AND QUALIFICATION OF DIRECTORS) RULES, 2014
The Central Government has recently notified the fourth amendment to the Companies (Appointment and Qualification of Directors) Rules, 2014 (Amendment). By this Amendment, the Central Government, Regional Director (Northern Region) or any other officer (as authorised) are required to de-activate the Director Identification Number (DIN) of an individual who does not submit his particulars as per e-form DIR-3-KYC within the timelines mentioned in the Amendment.
The Amendment was notified on 5 July 2018 and has already come into force from the 10 July 2018.
This legal update briefly summarises the Amendment and describes its ramifications.
Insertion of DIR-3-KYC: The Amendment includes insertion of DIR-3-KYC which contains all details of the DIN allotted individuals, like his full name, fathers name, place of residence (permanent and present), gender, residential status, nationality, voter ID card number, PAN, Aadhar number, driving license number, personal number and personal email ID. The e-form also makes it mandatory for foreign nationals to provide passport details. Proof of identity and proof of address is also to be attached while submitting the e-form. This form is to be digitally signed and duly submitted within the stipulated time as mentioned below.
Deactivation and Reactivation of DIN: If any individual fails to comply with filing of DIR-3-KYC, than their DIN will be deactivated and the same individual can reactivate his DIN only after filing the e-form DIR-3-KYC along with the prescribed fees.
Timeline of filing of DIR-3-KYC: All individuals, who have a DIN allotted to them as of 31 March 2018 shall submit the e-form DIR-3-KYC on or before the 31 August 2018. All individuals who has been allotted a DIN after 31 March 2018 shall submit the e-form on or before the 30 April 2019.
This Amendment promulgated by the Ministry of Corporate Affairs (MCA) is a part of the process of updating its directors database. In order to avoid the difficulties of reactivating a deactivated DIN, it is advisable that all individuals with an allocated DIN submit the e-form DIR-3-KYC on or before 31 August 2018.
This update was released on 25 Jul 2018.
Legal Update Team
MANSUKHLAL HIRALAL & COMPANY
Advocates, Solicitors and Notaries
T: +91 22 40565252
Mumbai Office: Surya Mahal, 2nd Floor, 5, Burjorji Bharucha Marg, Fort, Mumbai-400 023, India
Delhi Office: Block C-9, Lower Ground Floor, Jangpura Extension, New Delhi - 110 014, India
"Noted lawyer in the Real Estate practitioner from India" - Chambers & Partners
Please consider the environment before printing this email
The information contained in this communication is intended solely for the use of the individual or entity to whom it is addressed and others authorized to receive it. This communication may contain confidential or legally privileged information. If you are not the intended recipient, any disclosure, copying, distribution or action taken relying on the contents is prohibited and may be unlawful. If you have received this communication in error, or if you or your employer does not consent to email messages of this kind, please notify the sender immediately by responding to this email and then delete it from your system. No liability is accepted for any harm that may be caused to your systems or data by this message.
Subscribe to our Knowledge Repository
If you would like to receive content directly in your inbox from our knowledge repository, please complete this subscription form.