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KYC non-compliance: Government starts de-activating identification numbers of 21 lakh directors

Updated : September 17, 2018 08:06 AM IST

The Director Identification Numbers (DINs) -- a unique number allotted to individuals who are eligible to have directorship on the boards of registered companies -- are being de-activated.
They will be re-activated after a fee payment of Rs 5,000 along with the requisite form and the individuals concerned might also face action.
The latest move by the Corporate Affairs Ministry also comes at a time when the government has intensified the crackdown on shell companies, which are suspected to be conduits for illicit fund flows.
KYC non-compliance: Government starts de-activating identification numbers of 21 lakh directors

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