Yearly Filing. Eased For Directors.
*Subject To Change On Market Conditions
All the Proposed Directors or all Acting Directors of a company are allotted a unique Director Identification Number by the MCA which is called the DIN. While updating the MCA’s registry, all Directors that have a valid DIN are required to submit their KYC details annually on the eForm DIR-3-KYC. All the Directors have to file their DIN KYC yearly before the 30th of April.
If a director or company fails to file their DIN KYC, the DIN of the said director would be labeled ‘Deactivated’ and a penalty of Rupees 5000 is to be paid.
A company or LLP whose Director doesn’t file DIR 3 DIN KYC cannot file their ROC annual returns. As a consequence, the company or LLP could be struck off by the MCA.
A company or LLP cannot be operated by a Director that has a non-active DIN.
The authenticity of any Director with a deactivated DIN is put at risk while raising funds.
