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.
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.