07 March 2011

IndianCAs: DIN Rules Simplified [1 Attachment]

 
[Attachment(s) from Ashwin Nagar included below]


 

COMPANIES ACT

CIRCULAR/PRESS NOTE

Company Law : Section 266B of the Companies Act, 1956 - Director Identification Number (DIN) - Allotment of - DIN Process Simplified

GENERAL CIRCULAR NO. 5/2011 [F.NO.2/1/2011 CL.V], DATED 4-3-2011

I am directed to inform that the Ministry's has re-examined the process of allotment of Directors Identification Number (DIN) to be obtained u/s 266B of the Companies Act, 1956. The present process is cumbersome and time consuming. Representations have been received in the Ministry that the documents required to be submitted should be simple to prove the existence/residence of a person, who intend to become a director of a company.

The Ministry has constituted a Group to examine the business process re-engineering under MCA-21. In order to speed up and simplify the process to obtain a DIN, the below mentioned procedure have been recommended.

   1.  Application for DIN will be made on eForm; No physical submission of documents shall be accepted and for this purpose Scanned documents along with verification by the applicant will be attached with the eForm. Only online fee payment will be allowed i.e. No challan payment

   2.  The application can also be submitted online by the applicant himself using his DSC.

   3.  DIN 1 eForm can be digitally signed by the professional who shall also confirm that he has verified the particulars of the Applicant given in the application.

   4.  Where the DIN 1 is verified by the professional, the DIN will be approved by the system immediately online.

   5.  In other cases the DIN cell will examine the application and same shall be disposed of within one or two days.

   6.  Companies (Directors Identification Number) Rules, 2006 are being amended on the above lines.

   7.  Penal action against the applicant and professional certifying the DIN application in case of false information/certification as per provisions of section 628 of the Act will be taken in addition to action for professional misconduct and revocation of DIN, allotted on false information.

   8.  The above procedures is expected to enable allotment of DIN on the same day.

   9.  The above procedures applies to filing of DIN 4 intimating changes in particulars of Directors.

A notification to notify the aforesaid procedure is being issued. After issue of necessary notification, the applicant/professionals/DIN Cell are advised to follow the notified procedures for allotment of DIN.


 
| Ashwin Nagar | FCA and SAP-FICO\SEM-BCS |
Success is not permanent and failure is not final
 
Twitter      : http://twitter.com/ashwinnagar

__._,_.___

Attachment(s) from Ashwin Nagar

1 of 1 File(s)

Recent Activity:
We are on Facebook, join:
http://www.facebook.com/?filter=app_2361831622#!/group.php?gid=144654990478&ref=nf
***************************************************************************
Please visit the blog of IndianCAs and Express yourself by writing your comments by clicking on the link below:
http://indiancas.blogspot.com/
***************************************************************************
Hi! I have created an sms group for the benefit of members of IndianCAs. I will be sending regular updates, good quotes.If you wish to subscribe to this group, send following sms to 9870807070

ON IndianCAs

You will receive an sms from group. Just reply the message by writing:
Agree
And you will be the member of my SMS group IndianCAs.You can unsubscribe at any point of time by sendin an sms Off IndianCAs. There is no charge for receiving sms. So  let's Go Mobile.
*************************************************************************
Note: All messages posted by members including me on this group are sent in their personal capacity. No official position held anywhere by them have nothing to do with this email group. The group does   not accept any responsibility with regards to accuracy or the mistakes in the material circulated on this group. Please confirm from your independent source before using the information or material posted on this group.
*************************************************************************
Further, your attention is invited:

The messages on this group are approved only when the moderator finds it of immense importance to the members at general, otherwise, this group is not used for discussion or as discussion forum.
.

__,_._,___

1 comment:

What do you think about this? Please write your comment.