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Informative

Deactivation of DIN due to non-filing of DIR-3-KYC: MCA imposes penalty of Rs. 50,000 on Director

Update / Judgement Date

30 Jan 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Income Tax

The Ministry of Corporate Affairs (MCA) imposed a penalty on directors for deactivating their DINs due to non-filing of DIR-3 KYC. The deactivation of the Director Identification Number (DIN) of a director for failure to complete the required KYC formalities under DIR-3 is punishable. The MCA penalty serves as a reminder for directors to ensure compliance with KYC requirements to avoid penalties.