In efforts to weed out unscrupulous elements, the Corporate Affairs Ministry plans to collect KYC details of companies, chartered accountants, cost accountants and company secretaries. A senior ministry official said the exercise would help in having a "sanitised list" of companies and professionals. Against 33 lakh individuals who had Director Identification Numbers (DINs), little over 16 lakh have complied with the KYC requirement. If you are having non-compliant directors who have not done KYC, the system will not let you enter. Besides, the ministry would carry out the KYC process for professionals -- chartered accountants, cost accountants and company secretaries.

Source: dna January 06, 2019 06:33 UTC