Procedure for Surrender / Cancellation/ of Additional / Duplicate DIN

PROCESS FOR SURRENDER / CANCELLATION / OF ADDITIONAL / DUPLICATE DIN:

CS RAVI GARG

What is DIN?

DIN is a unique Director identification number allotted by the Central Government to any person intending to be a Director or an existing director of a company.  

It is an 8-digit unique identification number which has a lifetime validity. Through DIN, details of the directors are maintained in a database.

DIN is specific to a person, which means even if he is a director in 2 or more companies, he has to obtain only 1 DIN. And if he leaves a company and joins some other, the same DIN would work in the other company as well.

Statutory Provisions:

Form DIR-5 is required to be filed pursuant to Section 153 of the Companies Act, 2013 & Rule 11 (f) of Companies (Appointment and Qualification of Directors) Rules, 2014 which are reproduced for your reference.

Section 153 of the Companies Act, 2013:

Every individual intending to be appointed as director of a company shall make an application for allotment of Director Identification Number to the Central Government in such form and manner and along with such fees as may be prescribed.

Rule 11(f):

(f) on an application made in Form DIR-5 by the DIN holder to surrender his or her DIN along with declaration that he has never been appointed as director in any company and the said DIN has never been used for filing of any document with any authority, the Central Government may deactivate such DIN:

Provided that before deactivation of any DIN in such case, the Central Government shall verify e-records.

Purpose of the eForm:

Application for surrender of DIN in e-form DIR-5 can be filed with any reason such as DIN is unused and not intended for future reference also or multiple DINs are allotted to same person or DIN holder is no more/has become of unsound mind or insolvent etc. This application will further be processed by RD-north region.

Procedure for Filing Form DIR-5:

Any person wishing to surrender a DIN is required to file Form DIR-5 on the MCA portal.

Click here for Form DIR-5 and help-kit 

In Form DIR-5 the following information must be provided by the applicant:

• Details of the DIN held by the applicant
• Reason for surrender of DIN
• Whether DIN holder is retaining any DIN
• Number of DIN(s) being surrendered by the applicant
• Details of DIN to be surrendered
• Digital signature of the person surrendering the DIN.
• DIN Form may be certified by related person in the following cases:

Ø  Death of the concerned individual

Ø  Concerned individual is declared as a person of unsound mind by a competent court or

Ø  Concerned individual has been adjudicated as insolvent

Documents Required for Surrender of DIN

The following documents must be filed by the applicant along with Form DIR-5 for surrender of DIN.

Proof of Identity

Identity proofs like Voters Identity Card/ Passport/ Driving License/ Aadhaar Card/ PAN Card must be submitted.

Proof of Address

1. Address proofs like passport, election (voter identity) card, and ration card, driving license, electricity bill, telephone bill or aadhaar card in the name of applicant.
2. In case of Indian applicant, documents should not be older than 2 months from the date of filing of the eForm.
3. In case of foreign applicant, address proof should not be older than 1 year from the date of filing of the eForm.

Optional Attachments

1. Affidavit including declaration that retained DIN will be updated with all associated CIN/LLPIN

•        This is mandatory if user wants to retain any DIN

2. Copy of court order declaring DIN holder as insolvent/unsound mind

•    This is mandatory in case concerned individual is declared as a person of unsound mind by a competent court or concerned individual has been adjudicated as insolvent

3. Copy of death certificate

•        This is mandatory in case of Death of the concerned individual

Digital Signature of Professional

Form DIR-5 must finally be signed by any of the following professional:

• Chartered Accountant in whole time practice
• Company Secretary in whole time practice
• Cost Accountant in whole time practice.

Thank you

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Ravi Garg                                    

Company Secretary                    

91-7838204665,

csravi2014@gmail.com

COMPULSORY DE-MATERIALIZATION OF SECURITIES OF THE COMPANY-CREATION OF ISIN

CREATION OF ISIN

COMPULSORY DE-MATERIALIZATION OF SECURITIES OF THE COMPANY

Refer to the article published in TOI, dated 30.05.2018, Unlisted Public Companies are required to issue their shares in Demat Form only.

However same is not yet notified by the SEBI/MCA. Although same may be notified by November, this year.

Here is the link to your perusal

What is ISIN?

The International Securities Identification Number (ISIN) is a code that uniquely identifies a specific securities issue. The organization that allocates ISINs in any particular country is the country's respective National Numbering Agency (NNA).

Elements of the ISIN Number:

An ISIN identifier code has 12 alphanumeric characters and is structured to include:

1. the country in which the issuing company is headquartered

2. the specific security identification number

3. a final character that acts as a security check to deter fraud or misuse 

The first two digits are reserved for the security's country of origin or head office of the issuing company. The second grouping, which is nine characters long, is reserved for the security's unique identifying number. The final digit, known as a "check digit", assures the code's authenticity and lowers the frequency of errors or misuse.

The middle nine digits of the ISIN system number is administered by the local Country's numbering agency, which is called the CUSIP Service Bureau in the United States.

This office was created to improve the numbering system for securities by developing a national standard for the financial industry. The CUSIP Service Bureau was first established in 1964 and continues to enforce the numbering system through a board of trustees

You may get the shares of your Company into Demat by creation of ISIN in simple and easy way.

List of documents required to be submitted by the Issuers at the time of joining NSDL

1.    Letter of intent cum Master Creation Form

2.    Certified true copies of Audited Annual Reports for last two years.

3.    Certified true copy of Memorandum of Association / Articles of Association.

4.    Net Worth certificate from a Chartered Accountant. 

5.    Undertaking from company in the enclosed format (for private limited companies).

6.    Form PAS-3 ROC for all issues if any after the last balance sheet date. Book Value Certificate after the date of last allotment

7.    Form SH-7 if there is any variation in face value of shares or reduction in capital after the last balance sheet date

8.    If the company is already admitted in CDSL, the ISIN activation letter from CDSL to be submitted.

9.    In case of unlisted company, NSDL is charging fee of Rs.30000 + GST for activation.  

For draft formats and details of the above documents. contact via csravi2014@gmail.com or Ping at 7838204665 (Call or What's App) with details of the Company.

• Name of Company:
• Capital:
• Corporate Office Address:
• Name of Contact Person:
• Contact Details:

Procedure for admission of Equity & Preference Shares with CDSL

In order to admit its securities with CDSL, a company should first establish electronic connectivity with CDSL. The company can establish a direct in-house electronic connectivity with CDSL or can utilize the services of a Registrar and Transfer Agent (RTA) having electronic connectivity with CDSL.

1. The company should submit the certified true copy(ies) of the following document(s) along with the payment to CDSL:

·         Payment towards Processing & Annual Issuer Charges through NEFT/Demand draft favouring 'Central Depository Services (India) Limited'.

·         Tri-partite (for franking and e-stamping / on stamp paper) or bi-partite (for franking and e-stamping / on stamp paper) agreement should be executed with CDSL in triplicates with one original and two copies of the original agreement with ORIGINAL SIGNAURES AND RUBBER STAMP on it. Stamp duty payable on agreements will be Rs.600/- if executed in the state of Maharashtra.
Please do not mention the date on the agreement. The date of execution of agreement will be entered by CDSL, after obtaining necessary approvals for admitting the company. If the agreement is received with the date mentioned on it, same would be rejected and issuer, RTA has to execute new agreement.

·         Master Creation Form (MCF)

·         Soft copy of security details in prescribed format (Equity / Preference Shares).

·         Board Resolution for admission of securities with CDSL mentioning the details about authorized signatory(ies) and appointment of RTA, if any.

·         Capital Confirmation/Listing Certificate(s)/In-principle Approval(s) of Listing, from the Stock Exchange(s) where the security is Listed/Proposed to be Listed – Applicable in case of Listed Company.

·         Undertaking-cum-Indemnity (for franking / on stamp paper) should be submitted. Applicable in case of an Unlisted Companies. Stamp duty payable on Undertaking-cum-Indemnity will be Rs.500/- if executed in the state of Maharashtra. If executed in other states, stamp duty payable in the respective states will be applicable.

·         Declaration from Issuer & RTA confirming Electronic and Physical Connectivity – Applicable and MANDATORY in case of Listed Company.

·         Latest Reconciliation of Share Capital Audit Report – Applicable in case of Listed Company.

·         Letter for freezing/unfreezing of securities – Applicable in case of Private Limited Company.

·         Annual Report for the last financial year

·         Memorandum & Articles of Association along with Certificate of Incorporation.

Thank you

​If you like this article then please follow and Subscribe so that you can get our updates in future ……..” freely “

Ravi Garg                                    

Company Secretary                    

91-7838204665,

csravi2014@gmail.com

FILING OF FORM IEPF-5_CLAIM OF SHARES AND DIVIDEND

ARE YOUR SHARES TRANSFERRED TO IEPF?

ARE YOUR DIVIDEND TRANSFERRED TO IEPF?

GET THE SAME CLAIMED TODAY BY FILING OF FORM IEPF-5

PROCEDURE TO CLAIM OF SHARES AND DIVIDEND FROM IEPF-CLICK FOR MORE DETAILS

Get your claim filed through us, Ping for more details

7838204665

csravi2014@gmail.com