BCL India shall be organising a free webinar on 5 July 2018 at 04:00 PM.

The webinar shall cover recent & important changes in the realm of corporate affairs, namely,

• Mandatory filing of DIR-3 KYC by all directors before 31 August 2018, and
• Mandatory filing of  SMF by all companies that have received foreign direct investment at any time.

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Registered participants will get a link to the webinar on Zoom by 4 July 2018. The webinar will be conducted by CS Vighneshwar Bhat, Partner & Corporate Governance Leader @ BCL India.

Please read our article published on 20 June 2018 to know more about SMF. Please read on to know more about DIR-3 KYC.

What is DIR-3 KYC all about?

As part of updating its registry, the Ministry of Corporate Affairs (MCA) would be conducting KYC of all Directors of all companies annually through a new e-form known as DIR-3. Every Director who

• has been allotted Director Identification Number (DIN) on or before 31st March, 2018 and
• whose DIN is in ‘Approved’ status as on that date,

would be mandatorily required to file form DIR-3 KYC on or before 31st August,2018.

While filing the form, the personal mobile number and personal email address would have to be mandatorily indicated. This information will be validated using a one time password. The form should be filed by every Director using his own DSC and should be duly certified by a practicing professional (CA/CS/CMA).

Filing of DIR-3 KYC would be mandatory for disqualified directors also.

What is the consequence of not filing DIR-3?

MCA will mark all DINs for which no DIR-3 has been filed by 31 August, 2018 as deactivated for reason ‘Non-filing of DIR-3 KYC’.

Filing beyond 31 August 2018 would be allowed on payment of late fee, without prejudice to any other action that can be taken under the Act.

In case of any questions, please do not hesitate to reach out to us on pavan@bclindia.in or vighnesh@bclindia.in or write to us on bclindia.in/contact/. We would be glad to be of your assistance.