MCA deactivates over 16.7 lakh DINs over non-compliance of KYC

The government has deactivated Director Identification Numbers (DINs) of over 16.7 lakh persons over non-compliance with the KYC requirements.

Know Your Customer (KYC) details in electronic form are required by all individuals having DINs, as per the government, under the Companies Act.

An individual whose DIN has been deactivated would not be able to make any filings on the MCA21 portal. The portal is for making various filings required under the companies law.

It will only be reactivated after a certain electronic form is submitted along with the prescribed fee by the individual concerned.

Arun Jaitley, Minister of Finance and Corporate Affairs, said in a written reply to the Lok Sabha on Friday, “As on November 30, 2018, 16,71,167 DIN holders were deactivated due to non-filing of KYC“.

After the extended deadline of October 5 and up to December 15, Jaitley said, 8,000 DINs have been reactivated after filing of the DIR-3 KYC e-form.

He added, “The KYC drive for professionals (chartered accountants, company secretaries, and cost accountants) and companies will also be commenced shortly”.

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