Record 22.98 lakh director KYC forms filed in first 6 months of FY25: Centre

New Delhi, Oct 2 (IANS) A record 22.98 lakh director KYC forms have been filed in the first six months of the current fiscal (FY25), exceeding the entire FY24 figures, the government informed.

According to a Ministry of Corporate Affairs (MCA) statement, it observed robust director KYC filing during FY25.

From April 1 till September 30, 22.98 lakh DIR-3 KYC forms were filed, compared to 20.54 lakh forms filed during the same period last fiscal.

“The filing upto September 2024 during FY25 has exceeded filing of 22.02 lakh forms during entire FY23-24,” the ministry noted.

The government is aiming to enhance stakeholders’ experience on MCA-21 portal and taking proactive measures towards ease of doing business and ease of living.

According to MCA, a special team has also been constituted to look into the grievances of stakeholders for efficient disposal, suggest systemic solution, if required, and provide better guidance to the stakeholders for their compliances on MCA-21 Portal.

As per the provisions of Rule 12 A of Companies (Appointment and Qualification of Directors) Rules 2014, every individual who holds a Director Identification Number as on March 31 of a financial year need to submit DIR-3 KYC form on or before September 30 of immediate next financial year.

Moreover, where an individual who has already submitted DIR-3 KYC in relation to any previous financial year, submits DIR-3 KYC web in relation to any subsequent financial year it shall be deemed to be compliance of the provisions of this rule for the said financial year, informed the ministry.

According to the government, the number of new company and LLP (limited liability partnership) incorporations increased by nearly 5 per cent in the first four months during the current financial year to touch the 91,578 mark, compared to 87,379 in the same four-month period last year.

The growth in new companies being set up during the current financial year (2024-25) comes on the back of a 15 per cent surge in new firms incorporated in 2023-24 as compared to 1.59 lakh companies registered in 2022-23. The continuous growth reflects an improvement in the business climate of the country, a senior official said. At the end of March 2024, India had a total of 26,63,016 companies that were registered.

--IANS

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