“We don’t verify and evaluate it” – MCA secretary Injeti Srinivas 🤣【Yes we know】

File KYC or will consider you inactive, govt tells firms. About 44% of the country’s over 11 lakh active companies have so far complied with the new know-your-company (KYC) norms mandated by the Ministry of Corporate Affairs (MCA). The companies which don’t comply with the KYC norms by June 15 will be presumed to be inactive and tagged as ‘non-complaint’ on the MCA 21 portal.

The companies registered till December 2017; 🤣

https://www.dnaindia.com/business/report-file-kyc-or-will-consider-you-inactive-govt-tells-firms-2747708

To be compliant with the latest rule, the photograph of the registered office showing external building and the office interior has to be uploaded with the four-page form; 🤣

https://www.dnaindia.com/business/report-file-kyc-or-will-consider-you-inactive-govt-tells-firms-2747708
Garbage In – Garbage Out ⦒ A statistic is as good as the source and the method 【 NSSO, MCA 】