Its been five months since the NDA government has made it compulsory to submit Aadhaar and PAN details of top corporate executives in the e-business register.
Its been five months since the NDA government has made it compulsory to submit Aadhaar and PAN details of top corporate executives in the e-business register. Despite the announcement, the Central government is yet to apply the rule. The government has realised that the information can be freely accessed by the public under the Companies Act. In the month of April, Ministry of Corporate Affairs (MoCA) had asked individual stakeholders to obtain Aadhaar in order to realise the bogus entities as well as shell companies which were suspected to be laundering illicit funds, Indian Express reported.
Following this order, a lot of concerns were raised over making Aadhaar and PAN filing mandatory for managers and directors in “MCA21”. In communication with the law ministry, MoCA voicing concerns said that the public p[ortal which serves as the registry for the Registrar of Companies — as Section 399 of the Companies Act stipulates that these documents can be inspected by anyone and can also obtain the certified copy to submit as “evidence in Court of Law”.
The Ministry said that personal information like bank account number, address and other details will easily br accessed by the common people hence can be passed onto them. “When such proofs of identity (Aadhaar) as well as their personal information such as address etc. and other person specific numbers such as Aadhaar, bank account, PAN…are given in the documents and if the members of public access such documents, the said information would get passed on to them,” the Ministry has said.