Skip to main content

Requirement for Having Director Identification Number

 As per proviso to section 152(3) of the Companies Act, 2013 no company shall appoint or re-appoint any individual as director of the company unless he has been allotted a Director Identification Number (DIN) under section 154 or such other identification number as the Central Government may prescribe.


Section 152(3) provides that every individual, intending to be appointed as director of a company shall make an application for allotment of DIN to the Central Government (Powers delegated to the Regional Director, Noida) in the prescribed e-Form DIR-3 Therefore, before submission of e-Form RUN for reservation of name, all the directors of the proposed company must ensure that they are having valid PAN based DIN and if they are not having DIN, or if it is not PAN based, they should obtain DIN or make modification in the existing DIN if any, before taking further action. However, instead of applying and obtaining separate DIN, it may also be applied simultaneously with the Form SPICe-32. However, such
other identification number may also be prescribed by the Central Government, as per the Companies (Amendment) Act, 2017.

Specific care should be taken that pursuant to the provisions of section 155 of the Companies Act, 2013 a person cannot have more than one DIN, therefore, a DIN once obtained shall serve the requirement for all the companies in which he/she is director or intended to be a director.

Comments

Popular posts from this blog

                          GOODS & SERVICES TAX (GST) What Is GST This article is about the India Goods & Services(GST). Gst Is A Tax System In India Under This Tax Servcies All Businesmans Have To Pay Tax.Goods and Services Tax (GST) is a direct Tax. There Are Mainly Five Slabs For GST That Lies Between  0%, 5%, 12%, 18% and 28%. The tax came into effect from July 1, 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Indian government. The tax replaced existing multiple flowing taxes levied by the central and state governments. If You Runs A Business Then You Have To Register Under Tax GST. For GST Registration Visit At  https://www.mycompanywala.com Apply Now & Do Business With India's Easiest Tax Services.

PROCEDURE FOR ISSUE OF SHARES THROUGH PRIVATE PLACEMENT

  INTRODUCTION Private placement can be explained as a means of raising capital by the companies without going for public issues. Public Issues like Initial Public Offering and Further Public Opening are means of raising capital by the companies. DEFINITION A private placement is a sale of stock shares or bonds to pre-selected investors and institutions rather than on the open market. It is an alternative to an initial public offering (IPO) for a company seeking to raise capital for expansion. Condition for Private Placement under the Companies Act, 2013 Maximum Number of Persons:  An offer for private placement can be made to not more than 200 people in a financial year. Minimum amount of offer for an individual:  The value of the Offer per person shall not be less than INR 20,000 of ‘face value’ of securities. Persons to whom an offer can be made:  All offers shall be made only to those persons whose names are recorded by the company p...