Corporate Ministry to take KYC of companies and CAs
New Delhi: The Corporate Ministry will collect detailed information (KYC) of companies, chartered accountants, cost accountants and company secretaries in the country. The KYC will be conducted to keep scammers away from the market. This information was given by a senior official in the corporate ministry. Based on this KYC, a very clean and clear list of companies and related professionals will be prepared. Last year, the ministry started the process of KYC to get the directors identified. This will make it easier for the government to find companies that are a source of black money. Corporate Ministry Secretary Injethi Srivastava said the necessity of KYC for directors was a major step. Out of 33 lakh directors, KYC of 16 lakh directors has been completed. A director who is eligible to be on the board of directors of a company is given a dean number. There are 33 lakh directors in the country. KYC of companies is also a major step taken by the government. This leads to parameters. The identification of non-compliant companies will help in quick fixing. Such a company will not be registered in the MCA 21 system. Similarly, directors who do not have KYC will also be denied access to the system.