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Directors to lose DINs for default on disclosure norms
The Director Identification Numbers, or DINs, of those on boards of companies who haven't complied with certain disclosure norms by the 15 September deadline are being deactivated, the ministry of corporate affairs said today. Persons with deactivated DINs will be levied a fine of 5,000 for filing the mandatory know your customer (KYC) details after the due date. The fine does not mean the government will not take any further action against them for default.
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