The Kashmir Chamber of Commerce and Industry (Kashmir Chamber of Commerce and Industry) has welcomed the decision of the Ministry of Corporate Affairs (Ministry of Corporate Affairs) to ease compliance requirements for company directors by replacing the mandatory annual KYC filing with an abridged requirement once every three years under the Companies Act, 2013.
KCC&I said the reform marks a meaningful step towards reducing the regulatory burden on businesses and demonstrates the government’s intent to strengthen ease of doing business through substantive reforms rather than procedural formalities. The chamber noted that hundreds of companies operate across Jammu and Kashmir, and the revised requirement will provide significant relief to company directors and managements who have long sought rationalisation of repetitive filings.
The chamber observed that such measures help foster a more enabling environment for entrepreneurship, corporate governance and investment, particularly in regions like Jammu and Kashmir where businesses are focused on stabilisation and growth.
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.
