New Delhi [India], October 2 : The Ministry of Corporate Affairs (MCA) has recorded a total of 22.98 lakh DIR-3 KYC (Know Your Customer) forms submitted as of September 2024, the MCA said in s statement.
The total numbers have surpassed 22.02 lakh forms filed throughout the entire financial year 2023-24, according to the ministry.
This increase in the filings are a significant improvement above the 20.54 lakh forms that were filed between April and September of 2023, as per the ministry.
It further added in the statement that MCA is constantly endeavoring to enhance stakeholders' experience on MCA-21 portal and taking proactive measures towards Ease of Doing Business and Ease of Living.
"MCA is constantly endeavoring to enhance stakeholders' experience on MCA-21 portal and taking proactive measures towards Ease of Doing Business and Ease of Living," MCA said in a statement.
The ministry has also set up a special team to address stakeholder grievances, provide guidance on compliance, and suggest systemic solutions where needed to improve the efficiency of the filing process, the statement added.
Under the provisions of Rule 12A of the Companies (Appointment of Directors) Rules, 2014, all individuals holding a Director Identification Number (DIN) as of 31st March of a financial year are required to submit the DIR-3 KYC form by 30th September of the following year. Individuals who have already submitted the KYC in a previous year can comply with the rule by submitting the DIR-3 KYC web form for subsequent years, as per the statement.
In the statement the ministry asserted that this initiative reflects the MCA's commitment to maintaining a transparent and well-regulated corporate governance structure in India, ensuring directors adhere to necessary compliance protocols.
For the context, the director KYC filing refers to the mandatory submission of personal identification and contact details by individuals holding a Director Identification Number (DIN) in India.
The filing is done through the DIR-3 KYC form on the Ministry of Corporate Affairs (MCA) portal. It ensures that the MCA has updated and accurate information about the directors of companies registered in India.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor