Companies act

Modi Government planned to make Aadhaar card mandatory for the regulatory filings under the Co Act (Companies Act).

As there 9 lakh existing companies currently in our country and the decision came up right when the authorities are trying to stop remove the shell firms. The rest of the companies have to submit the filings electrically through the official MCA21 portal.

Now The Ministry of Corporate Affairs (MCA) plans to sync the Aadhaar card details to avail the MCA21 services. The officials have already notified the active stakeholders to update their details with their respective Aadhaar numbers as soon as possible. They plan to add not only the Aadhaar details but also the PAN details for filings under the Companies Act.

Also Read Aadhaar Mandatory for Filing ITR to Stop Evasion: Arun Jaitley

The notice stated that after the update gets completed, the authentication would entirely base on the Aadhaar identification.

A government official said that by linking the Aadhaar cards, we could easily identify them, and there won’t be any false identities. The private stakeholder must provide DIN(Director Identification Number) holders/ Directors/Key Managerial Personnel must obtain the Aadhaar for the process.

Chartered Accountants professionals, company secretaries, and cost accountants are also requested to attain the Aadhaar as early as they can. The method is applicable if that particular individual is an employee or still in practice.

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