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MEANING AND LEGAL FRAMEWORK OF Director Identification Number (DIN)

DIN stands for Director Identification Number, which is issued by the Central Government to anybody who wishes to become a director or who is already a director of a firm. The notion of Director Identification Number (DIN) will be discussed in this article based on some important topics.

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MEANING AND LEGAL FRAMEWORK OF Director Identification Number (DIN)

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  1. MEANING AND LEGAL FRAMEWORK OF DIN VINOD K AGRAWAK & ASSOCIATES, CA

  2. WHAT IS DIN? • A Director Identification Number (DIN) is a one-of-a-kind number assigned to an individual who is appointed as a director of a company after filling out form DIR-3 in accordance with sections 153 and 154 of the Companies Act, 2013. • A new company's application for a DIN number must be submitted solely through the SPICeeform at the time of formation.

  3. WHAT IS DPIN? • Any individual who intends to be designated as a Designated Partner of a Limited Liability Partnership must register for a Designated Partner Identification Number (DPIN) (LLP).

  4. LEGAL FRAMEWORK • With the addition of Sections 266A to 266G of the Companies (Amendment) Act, 2006, the notion of a Director Identification Number (DIN) was introduced for the first time. • As a result, all current and prospective Directors must get DIN within the specified time range.

  5. AUTHORITY ACCREDITED FOR DIN ALLOTMENT • Anyone who wants to become a director of an established corporation must fill out Form DIR-3, which is then processed by the federal government (Office of Regional Director, Ministry of Corporate Affairs). • The authorizing authority will also issue a DIN to the individual who is appointed as a director after completing form SPICe (INC-32) (Central Registration Centre).

  6. PROCEDURE FOR OBTAINING DINAnyone interested in becoming a director of a new company must apply for a Director Identification Number solely using the SPICeeform at the time of formation. Any individual who wishes to become a director of an established business must submit an application for a DIN number using eForm DIR-3 and complete the steps below: • As required, include a photograph as well as a scanned copy of supporting papers, such as attested proof of identification and attested evidence of domicile. • The Applicant must sign Form DIR-3, which must be digitally validated by a Firm Secretary in full-time employment with the company or by the Managing Director, Director, CEO, or CFO of an existing company where the applicant is to be appointed as a director. • Upload the identical form to the MCA portal and pay the eForm DIR-3 filing charge. • Following that, either an authorised DIN will be created, or your DIN will be marked as "Provisional" or "Rejection.“ (Note: If the details of the eform are discovered to be a probable duplication, a provisional DIN will be created.)

  7. DIN APPLICATION AND AMENDMENT FORMS • SPICe Form: Applications for allocation of DINs to proposed first Directors in new businesses must be submitted in SPICe form only. • DIR-3 Form: Anyone wishing to become a director of an established business must submit an application for a DIN using eForm DIR-3. • DIR-6 Form: Any changes to the directors' personal information must be recorded on form DIR-6.

  8. HOW TO RESOLVE A PROVISIONAL AND REJECTED DIN APPLICATION PROBLEM

  9. PROVISIONAL DIN: • If the details of the eform are discovered to be a potential duplication, a provisional DIN will be created. • In this case, the user will receive an appropriate informational message with a correct and clear justification in the receipt. • Then, according to your circumstance, you must enter information and supporting papers and resubmit the form. • Following that, it's sent to the DIN cell for back-office processing. • Provisional DIN becomes approved DIN once the form is authorized, and it can be used again.

  10. MAJOR REASONS FOR DIN APPLICATION REJECTION: • The following are some of the most common errors made by applicants that result in the rejection of their DIN application: i. Failure to provide supporting documentation, such as verification of date of birth or the applicant's father's name. ii. Invalid Application/Supporting Documents: For example, the supplied proof of identification was not issued by a government agency.

  11. THANKYOU For more details contact us through: https://cavkagrawal.business.site/ VINOD K AGRAWAL & ASSOCIATES, CA

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