homeeconomy News

Nearly 18 lakh dummy directors found in govt's KYC drive, says report

Nearly 18 lakh dummy directors found in govt's KYC drive, says report

Nearly 18 lakh dummy directors found in govt's KYC drive, says report
Profile image

By CNBC-TV18 Sept 5, 2018 10:21:03 AM IST (Published)

The Ministry of Corporate Affairs, in the mega Know-Your-Customer (KYC) drive, have found that 18 lakh of the total 33 lakh registered directors are dummy, reported Financial Express.

The Ministry of Corporate Affairs, in the mega Know-Your-Customer (KYC) drive, have found that 18 lakh of the total 33 lakh registered directors are dummy, reported Financial Express.

Recommended Articles

View All

Out of the total 33 lakh, only an estimated 15 lakh were the actual registered directors.
“At least, the basic credentials of the individual definitely needs to be verified. We will get to know the actual ones and get the basic information of the actual directors,” an unnamed senior government official told the newspaper.
A director needs to provide passport, PAN card and contact details for the KYC registration and the information needs to be updated annually at the time of filing annual financial statements by a company secretary or a chartered accountant, the report said.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng