Provisions in Respect of Director Identification Number(DIN).

Provisions in respect of DIN are as follows :

Application for allotment of Director Identification Number [Section 153]: 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 hi such form and manner and along with such fees as may be prescribed.

Allotment of Director Identification Number [Section 154]: The Central Government shall, within one month from the receipt of the application under Section 153, allot a Director Identification Number to an applicant in such manner as may be prescribed.

Prohibition to obtain more than one Director Identification Number [Section 155]: No individual, who has already been allotted a Director Identification Number under Section 154, shall apply for, obtain or possess another Director Identification Number.

Director to intimate Director Identification Number [Section 156]: Every existing director shall, within one month of the receipt of Director identification Number from the Central Government, intimate his Director identification Number to the company or all companies wherein he is a director.

Company to inform Director Identification Number to Registrar [Section 157]: Every company shall, within fifteen days of the receipt of intimation under Section 156, furnish the Director Identification Number of all its directors to the Registrar or any other officer or authority as may be specified by the Central Government with such fees as may be prescribed with such additional fees as may be prescribed within the time specified under Section 403 and every such intimation shall be furnished in such form and manner as may be prescribed.

Obligation, to indicate Director Identification Number [Section 158]: Every person or company, while furnishing any return, information or particulars as are required to be furnished – under this Act, shall mention the Director Identification Number in such return, information or particulars in case such return, information or particulars relate to the director or contain any reference of any director.

Punishment for contravention [Section 159]: If any individual or director of a company, contravenes any of the provisions of Section 152, Section 155 and Section 156, such individual or director of the company shall be punishable with imprisonment for a term which may extend to six months or with fine which may extend to fifty thousand rupees and where the contravention is a continuing one, with a further fine which may extend to five hundred rupees for every day after the first during which the contravention continues.

Tags:

We will be happy to hear your thoughts

Leave a reply

Logo
Register New Account
Reset Password
Compare items
  • Total (0)
Compare
0