DIR-3-KYC
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Ramachandran V
Aug 22, 2018, 6:04:42 AM8/22/18
to csmy...@googlegroups.com, company_secretary
Where is it stated that for proof of permanent address only latest utility bills/ bank statement will be accepted. The Help File of form DIR-3-KYC states that passport, aadhar, ration card, driving licence in the name of the Director will be accepted. In the webinar the MCA officials did say that for the proof of permanent address we should refer to rule 16 of companies (incorporation) Rules, 2014 but it is not backed by any official document from the MCA. The FAQs on DIR-3-KYC at the MCA site says that refer to the help file for documents required under proof of permanent address.
Second issue i want to raise is that of senior Directors who are now perforce required to obtain a DSC which in turn needs a video and all that stuff. Can't the government make it easier for senior citizens at least that their form DIR-3-KYC can be signed by any other non senior Director. I have Directors who are 85 plus years and making them to do the video rounds is to me, a torture to them.
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Tanvi Aggarwal
Aug 22, 2018, 6:24:03 AM8/22/18
to csmysore, company_secretary
Do not refer Rule 16. There is no requirement now. The Rule 16 is for subscriber and not for the director.
Second, if he can act as a director, he can do video calling also.
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Ramachandran V
Aug 22, 2018, 7:08:15 AM8/22/18
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She is a family member, not an active director
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Tanvi Aggarwal
Aug 22, 2018, 7:32:43 AM8/22/18
to csmysore
but directors have some responsibility. they have to attend atleast one bm in a year. if they can do that why not other things.
I got your point but if you say it is causing her hardship, then she can resign back dated.
On Wed, Aug 22, 2018 at 4:37 PM, Ramachandran V <vrassoci...@gmail.com> wrote:
She is a family member, not an active director
On Wed, 22 Aug 2018, 15:54 Tanvi Aggarwal, <tanviagg...@gmail.com> wrote:
Do not refer Rule 16. There is no requirement now. The Rule 16 is for subscriber and not for the director.Second, if he can act as a director, he can do video calling also.
On Wed, Aug 22, 2018 at 3:34 PM, Ramachandran V <vrassoci...@gmail.com> wrote:
Where is it stated that for proof of permanent address only latest utility bills/ bank statement will be accepted. The Help File of form DIR-3-KYC states that passport, aadhar, ration card, driving licence in the name of the Director will be accepted. In the webinar the MCA officials did say that for the proof of permanent address we should refer to rule 16 of companies (incorporation) Rules, 2014 but it is not backed by any official document from the MCA. The FAQs on DIR-3-KYC at the MCA site says that refer to the help file for documents required under proof of permanent address.Second issue i want to raise is that of senior Directors who are now perforce required to obtain a DSC which in turn needs a video and all that stuff. Can't the government make it easier for senior citizens at least that their form DIR-3-KYC can be signed by any other non senior Director. I have Directors who are 85 plus years and making them to do the video rounds is to me, a torture to them.--
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9999629990
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Sitaram
Aug 22, 2018, 9:04:06 AM8/22/18
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it is not the question of bearing responsibility. rather it is a question of bureaucracy and doing multiple verifications which are repetitive. Look at the laws of developed nations. they are so simple but effective.
Despite kyc, pan linking and other circus exercises you will still come across a nirav modi or a mallya in future. it is not the number of rules and documents but the effectiveness which is important.
On Wed 22 Aug, 2018, 17:02 Tanvi Aggarwal, <tanviagg...@gmail.com> wrote:
but directors have some responsibility. they have to attend atleast one bm in a year. if they can do that why not other things.I got your point but if you say it is causing her hardship, then she can resign back dated.
On Wed, Aug 22, 2018 at 4:37 PM, Ramachandran V <vrassoci...@gmail.com> wrote:
She is a family member, not an active director
On Wed, 22 Aug 2018, 15:54 Tanvi Aggarwal, <tanviagg...@gmail.com> wrote:
Do not refer Rule 16. There is no requirement now. The Rule 16 is for subscriber and not for the director.Second, if he can act as a director, he can do video calling also.
On Wed, Aug 22, 2018 at 3:34 PM, Ramachandran V <vrassoci...@gmail.com> wrote:
Where is it stated that for proof of permanent address only latest utility bills/ bank statement will be accepted. The Help File of form DIR-3-KYC states that passport, aadhar, ration card, driving licence in the name of the Director will be accepted. In the webinar the MCA officials did say that for the proof of permanent address we should refer to rule 16 of companies (incorporation) Rules, 2014 but it is not backed by any official document from the MCA. The FAQs on DIR-3-KYC at the MCA site says that refer to the help file for documents required under proof of permanent address.Second issue i want to raise is that of senior Directors who are now perforce required to obtain a DSC which in turn needs a video and all that stuff. Can't the government make it easier for senior citizens at least that their form DIR-3-KYC can be signed by any other non senior Director. I have Directors who are 85 plus years and making them to do the video rounds is to me, a torture to them.--
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9999629990
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9999629990
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Ramachandran V
Aug 22, 2018, 9:41:05 AM8/22/18
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Majority of small companies in India are family concerns with the spouses and realtives being appointed as directors. Most of such companies have little or no business. You can't expect family members to get involved in the day to day running of business. Govt needs to be compassionate rather than insist on such stringent regulations. The video thing in my view is extremely cumbersome.
Tanvi Aggarwal
Aug 23, 2018, 3:30:21 AM8/23/18
to csmysore
Right now, you have no option. Just do it.
Why cant be as Indians support some initiative. This DIR-3 KYC is generating business for all- professionals, dsc issuers, delivery boys, government, etc.
Infact, i think it is a good initiative, there are lot of companies in which the directors are dead or there is no idea who the directors are, still they are on the board.
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9999629990
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9999629990
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Ramachandran V
Aug 23, 2018, 4:18:50 AM8/23/18
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Yeah i have seen people charging as much as Rs.499/- for a form. That is the business being generated.
It is a knee jerk reaction by the govt. just because 4 people scooted from the country after cheating of millions. Its like using a hammer where a pin would suffice.
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Tanvi Aggarwal
Aug 23, 2018, 4:32:27 AM8/23/18
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This is the problem of the profession and not the govt. There are people who are charging 1500 to 2000 also. Max people are charging 1000 rs.
There are people who certify annual filing forms at 250 rs. What can be done for these professionals?
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CS VIJAY L VYAS
Aug 23, 2018, 6:34:30 AM8/23/18
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A foreign national Director when present in India during the period for DIR-3 KYC (01-08-2018 to 15-09-2018) would it be permissible to get his KYC Documents notarised in India and filed with DIR-3 KYC form? He has his foreign mobile no. active here and also access to his email in India for confirmation of OTP.
I raised a query to MCA but has not received any reply.
Please share your views or experience.
Thanks,
CS VIJAY L VYAS
kushla rawat
Aug 24, 2018, 2:12:27 AM8/24/18
to CSMysore
NO. Documents need to be verified and attested by concerned authority from foreign country only.
CS VIJAY L VYAS
Aug 24, 2018, 9:13:22 AM8/24/18
to CSMysore
If you see Rule 13(5) (d) of the Incorporation Rules there is a provision allowing notarisation in INDIA for the Foreign National Director/ Subscriber if he/she is in India with valid Business VISA or OCI.
However, there is no similar provision for DIR-3 KYC. The MCA should revise KYC requirements in line with the said Rule to mitigate the difficulties of Foreign National Directors when present in INDIA.
CS VIJAY L VYAS
SAWITA RANI
Aug 24, 2018, 10:05:30 AM8/24/18
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When a person is still interested at the age of 85 to become Director then how it is painful for him. When he can take responsibility of so much crores of a co. Then he can do such a simple task.
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siddharth mittal
Aug 30, 2018, 12:00:14 PM8/30/18
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Vijay ji,
As.per.my understanding, if the foreign director is personally present in India, then get his documents notarised in India on the basis of production of originals and at the same time also use his visa verified from his host country's embassy in India and stamp of arrival in India on his passport as proof that he was personally present in India during that period.
Others views are also solicited.
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