Dir 3 Kyc – Practical Aspects

Most of the Stakeholders have complied with DIR 3 KYC Guidelines and some of the Stakeholders are in the process of uploading the form. Most of the Stakeholders successfully uploaded form . However various Practical difficulties must have been faced by some of them. The purpose of DIR 3 KYC is to update data base and clean up the mess created due to duplicate DIN Numbers and inactive DIN numbers to be deactivated/removed from the system. Following are some of Practical issues while complying with the DIR 3 KYC Guidelines :

1) PAN Number cannot be verified due to mismatch in names.

2) Address  and Mobile Number mentioned in Aadhar  Card is changed and not updated to date.

3) Address mentioned in Aadhar Card and Passport differ and Address mentioned on MCA Site is altogether different.

4) Date of Birth Mentioned on PAN, Aadhar Card and Passport do not match with each other.

5) Names mentioned in PAN, Aadhar and Passport do not match with each other.

6) Personal Mobile Numbers of Stakeholders/Directors are not in their individual names but in the names of relatives.

7) Persons having Foreign Nationality need to apostle  documents and obtaining digital signature is a time consuming process.

8) Sometimes MCA Site do not work smoothly and after uploading form, Challans cannot be generated due to technical issues.

Even though above mentioned difficulties arise in one case or another, the Intentions of Government seems to regularize and update the system and data base which will in the long run help to achieve better results.

Disclaimer : The Views expressed in this Article are based upon prevailing facts and changes in Law to date and views expressed are purely personal in nature. Readers are advised to seek expert opinion before arriving at a decision.