KCC&I welcomes MCA’s move to ease compliance norms for company directors

Srinagar, Jan 2: The Kashmir Chamber of Commerce and Industry (KCC&I) has welcomed the decision of the Ministry of Corporate Affairs to ease compliance requirements for company directors by replacing the mandatory annual KYC filing with an abridged requirement of once every three years under the Companies Act, 2013.
In a statement, KCC&I said the reform marks a significant step towards reducing the regulatory burden on businesses and reflects the government’s commitment to meaningful ease of doing business rather than procedural compliance. The chamber noted that hundreds of companies are operating across Jammu and Kashmir, and the change will provide substantial relief to company directors and managements who have long sought rationalisation of repetitive filings.
KCC&I said such reforms help create a more enabling environment for entrepreneurship, corporate governance and investment, particularly in regions like Jammu and Kashmir, where businesses are striving to stabilise and grow.
The amended rules were notified on December 31, 2025, and will come into effect from March 31, 2026. KCC&I expressed hope that similar pragmatic reforms will continue to be introduced to further strengthen the business ecosystem in the region. (KNO)