Ranjit is director in 11 companies. He has got two DINs (Director Identification Number) allotted to him inadvertently. Out of the 11 directorships he holds 5 with the DIN allotted to him at first and the rest with the D
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2018
Ranjit is director in 11 companies. He has got two DINs (Director Identification Number) allotted to him inadvertently. Out of the 11 directorships he holds 5 with the DIN allotted to him at first and the rest with the DIN allotted to him later. He wants to surrender one of his DINs, but to keep all his 11 directorships. Advise him.
Answer & Explanation:
As per the requirements of the Companies Act, 2013, relevant to filing of form DIR 5 for surrendering the DIN, if a person possesses multiple DINs and wants to surrender them retaining only one DIN, he shall retain the DIN allotted to him in the first instance and surrender the others allotted later. Applying the above provisions, the advice to Ranjit would be- Regarding retaining 11 directorships, he could give resignation to companies' directorship which he is holding with the second DIN, and afterwards could be co-opted to the Board of such companies with the first DIN, After the above cited activities in point (i), he shall retain the DIN allotted to him at the first instance and surrender the second one allotted after the first by filing Form DIR 5 completed in all respects with the Registrar of Companies.
Topics: Director Identification Number (DIN)
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