CS Ritu Nagpal

CS Ritu Nagpal

Introduction:

As per the statement given this month by MCA Secretary Sh. Injeti Srinivas, MCA has formally announced the Annual KYC Drive through the e-form DIR-3KYC.

As part of updating its registry, MCA would be conducting KYC of all Directors of all Companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly.

MCA has notified Companies ((Appointment and Qualification of Directors) fourth Amendment Rules, 2018. These Rules shall come into effect from 10th July, 2018.

Requirements & Important dates:

1. Who have to File DIR-3 KYC?

Every Director who has been allotted DIN as on or before 31st march of a financial year submits e-form DIR-3KYC with central government.

2. What is due date of DIR-3 KYC?

Due date of filing of DIR-3KYC is 30th April of Immediate Financial Year

3. What is due date of DIR-3 KYC for the F.Y. ended 31.03.2018?

Due date of filing of DIR-3KYC is on or before 31st August, 2018

4. Mandatory Information DIR-3 KYC?

  • Unique Personal Mobile Number
  • Personal Email ID.
  • OTP on Email ID and Mobile No.

5. Certification of DIR-3 KYC?

a. DSC of Director

b. DSC of practicing professional (CA/CS/CMA)

6. Whether Disqualified Directors required filing DIR-3 KYC?

Yes, Filing of DIR-3 KYC would be mandatory for Disqualified Directors also.

7. Effect of director fails to file DIR-3 KYC?

MCA21 system will mark all approved DINs (allotted on or before 31st March 2018) against which DIR-3 KYC form has not been filed as ‘Deactivated’ with reason as ‘Non-filing of DIR-3 KYC’

If any director fails to file e-form DIR-3 KYC any financial year on or before 30th April, 2018 then.

8. Consequences of filing of DIR-3 KYC after due date?

After the due date filing of DIR-3 KYC in respect of such deactivated DINs shall be allowed upon payment of a specified fee of Rs. 5,000/- only, without prejudice to any other action that may be taken.

9. If a person not holding Directorship anywhereforwhole year or years. Whether such person required to file DIR-3 KYC every financial year?

Yes, even a person is not holding directorship in any Company, such person also required to file DIR-3 KYC every financial year on or before 30th April.

10. Whether it is mandatory for a person to have DSCtofile DIR-3KYC?

Yes, It is mandatory to affix DSC of Director on his e-form DIR-3 KYC.

11. Who have to File DIR-3 KYC?

Every Director who has been allotted DIN as on or before 31st march of a financial year submits e-form DIR-3KYC with central government.

12. Whether email ID / Mobile No. of any other person can be mentioned in DIR 3 KYC?

e-form DIR-3 KYC specifically mentioned about Personal Mobile and Personal Email ID. Therefore, one can opine that Director have to use their own personal mobile No and email ID. Otherwise it shall be default under Rule 12.

Even one place in form mentioned i.e. “Mobile No. and email ID shall be of the Director himself only”

In case of Indian National, Passport is not mandatory.

In case of Foreign National, Passport Is mandatory

Points to remember:

Professional has to give declaration that he/ she are engaged for Certification / verification of this form.” Following should be course of action for the professional if he certified the e-form DIR-3 KYC. Obtain Engagement Letter from the Director

Mention all the details mentioned in DIR-3 KYC in the engagement Letter Confirm that the Mobile No. and email ID belongs to Director only. Keep copy of attachments and form in his record.

Disclaimer: The user of the information agrees that the information is not a professional advice and is subject to change without notice. I assume no responsibility for the consequences of use of such information. In no event shall I shall be liable for any direct, indirect, special or incidental damage resulting from, arising out of or in connection with the use of the information

(Author- CS Ritu Nagpal, AGM_corporate Law, G. K. Kedia & Co.)

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7 Comments

  1. Roopali says:

    What I fail to understand from the language of the section is – are those Directors who file DIR3 KYC before 31st Aug, 2018 required to do it annually or only those who are allotted new DIN in a particular FY hereon?

  2. Anil Sharma says:

    How to update KYC of a foreign national directors who is not living in india and dont have any address proof / Mobile No / e mail ID in india ?

  3. YASH RAJ says:

    The above amendment is made in Companies Act. Is it applicable only for company directors *or* for LLP directors too ??

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