Directors identification number

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2014 one of my friend applied for DIN and after sometime the DIN was alloted to him. NOw He is in confusion about the all compliance which is to be fulfilled by him as a director. whether he is to inform about his DIN to the ROC or to the company in which he is director. And what about company,what are the compliance for the company. plz tell me what are the overall procedure and whether that procedure can be done online..??

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

07 May 2014 is he holding any directorship at any company currently?

Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2014 No, he is the director in single company. actually there are total 3 director in that company including my friend. so he is the director of a single company right now.

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
Follow

21 July 2024 Once your friend has been allotted a Director Identification Number (DIN), there are certain compliance requirements that need to be fulfilled both by the director and the company where he holds the directorship. Here’s a step-by-step outline of what needs to be done:

### For the Director (Your Friend):

1. **Informing the Company:**
- Your friend should inform the company where he is a director about his DIN. This is usually done by providing a copy of the DIN allotment letter to the company.

2. **KYC Compliance:**
- Your friend needs to complete the KYC (Know Your Customer) process with the Ministry of Corporate Affairs (MCA). This involves verifying personal details and linking Aadhaar and PAN to the DIN. KYC is typically done online on the MCA portal.

3. **Annual Filing:**
- Directors are required to file an annual return of their holdings and changes in the company’s shares with the MCA. This is part of the DIN-KYC process.

4. **Regular Compliance:**
- Ensure compliance with all statutory requirements under the Companies Act, such as attending board meetings, approving financial statements, etc.

### For the Company:

1. **Board Resolution:**
- The company needs to pass a board resolution to note the appointment of your friend as a director and inform the Registrar of Companies (ROC) within 30 days of the appointment.

2. **Filing with ROC:**
- The company needs to file Form DIR-12 with the ROC within 30 days of the appointment, along with the necessary documents including the consent of the director and his DIN.

3. **Annual Filings:**
- The company must file its annual returns (Form MGT-7) and financial statements (Form AOC-4) with the ROC within the specified deadlines.

4. **Compliance Certificates:**
- Obtain compliance certificates such as the Certificate of Incorporation, Commencement of Business Certificate (if applicable), etc., and file them with the ROC.

### Online Procedure:

- **DIN Allotment:** The application for DIN can be done online through the MCA portal.
- **Company Compliance:** Most compliance filings, including annual returns, financial statements, and director-related filings, can also be done online through the MCA portal.

### Additional Points:

- Ensure your friend is aware of his responsibilities as a director, including fiduciary duties and statutory obligations.
- Regularly check the MCA portal for updates on compliance requirements and filing deadlines.
- Seek professional assistance from a company secretary or legal advisor if needed, especially for complex transactions or compliance issues.

By adhering to these steps and maintaining proper documentation, your friend can ensure compliance with all regulatory requirements as a director of the company.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

21 July 2024 do not waste your time with 10 year old queries. respond to current ones. its not a competition!!

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now