KYC of Directors by MCA
– By Aditi Jhunjhunwala
– Nirali Gosaliya Vasa
In its recent move to eradicate the shell companies Government has yet taken another move by introduction of Rule 12A and amendment to existing Rules of Companies (Appointment and Qualification of Directors) Rules, 2018 wherein Government seeks to ensure that the management is being run by directors who are qualified enough to act as such and accordingly seeks to identify the shadow directors. While the move is a welcome move in light of KYC requirements in various fields, but here one can sense a different need.
We have made an attempt to answer some of the queries in relation to compliance of the same.