DIR 3 KYC - Remove Penalty or Scrap

CA Chikkerur CR writes an Open letter to PM Narendra Modi on DIR 3 KYC requesting the PM to either remove the penalty of Rs 5000 on DIR KYC and allow Annual filings to report financials or remove DIR 3 KYC as an annual ritual form forever. What do you think of this demand?

Replies (3)
Quick Summary
An open letter has been sent to Prime Minister Narendra Modi regarding the DIR 3 KYC filing. The author suggests two options: either remove the Rs 5000 penalty and allow annual filings to report financials, or eliminate the DIR 3 KYC form as an unnecessary annual ritual. The question is posed whether this demand is justified.

It is correct
Yes it's correct
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