What is Director Identification Number (DIN)

By Trademark Bazaar - 5th September 2017

What is Director Identification Number (DIN)

This article is related to the meaning of DIN and the purpose behind its introduction.

Director identification number is the unique Identification Number allotted to an individual who is appointed as director of a company. Further, the proposed director is required to make an application in form DIR-3 pursuant to section 153 & 154 of the Companies Act, 2013.

Central Government (Office of Regional Director (Northern Region), Ministry of Corporate Affairs) allots the DIN upon processing the form DIR-3 filed by the applicant. Further, the person who is appointed as a director upon filing form INC-29 will be issued a DIN by the approving authority (Central Registration Centre).

Purpose of DIN

Earlier there were several cases of forgery wherein the chit funds companies promised its residents incomparable returns, then escaped with their money to another city. These companies could not be traced due to the absence of the mechanism to keep a track record of the director’s.

To overcome this problem, the government introduced the concept of Director Identification Number. This number provides a unique identity to the director and helps in maintaining information of all directors in a database. Further, it helps to cross-check such persons and to ensure the director’s identity is valid and all information provided is true.

The DIN directory will contain all information regarding the directors, such as their name, PAN number and also their present address.

Recent from the blog

Maintaining Books of Accounts by Company

BY Trademark Bazaar 21st February 2018

Preparing and maintaining proper books of accounts is essential for any company as it mandatory according to Companies Act 2013. Also, the proper books of accounts are necessary to prepare the accurate financial statements of the company.

VIEW

Importance of Trademark Registration

BY Trademark Bazaar 15th February 2018

If you desire to create a mark of your product in the minds of people getting a trademark is an ideal option for you. The trademark helps you to uniquely identify your product from the others and create a unique brand image. 

VIEW

After Incorporation Compliances for Company

BY Trademark Bazaar 8th February 2018

There are certain annual compliance requirements and other compliances that every business entity is required to fulfill according to the Companies Act 2013. Compliance refers to the set of rules and regulations that must be followed according to the law

VIEW

FACEBOOK
BLOG SEARCH
ARCHIVES
UPDATES

TM Bazaar blog gone social

Get the latest updates of TM Bazaar

Leave a Comment

Do you have any Question? Call us on +91-8882-312-312