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Aadhaar to be made compulsory for filings

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The government will soon make quoting of Aadhaar number compulsory for key managerial personnel and directors in regulatory filings under the Companies Act.The move, primarily aimed at tackling the issue of bogus identities, comes atatime when the authorities are bolstering measures to deal with the menace of shell companies, suspected to be used for laundering illicit funds.Moving towards implementation of the Aadhaar card requirement under the companies law, the corporate affairs ministry has already asked individual stakeholders to obtain Aadhaar at the earliest for “integrating their details with MCA21”.MCA21 is the portal through which filings required under the Companies Act are submitted to the ministry.A source said the ministry has started work for implementing a framework to make quoting of Aadhaar compulsory in the filings made under the companies law. “We will roll it out pretty fast. It will be done in a phased manner,” the source added.

Business Standard New Delhi, 01st May 2017

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