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Surrender Of DIN

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    A Director Identification Number (DIN) is allotted by the central government to every individual intending to be appointed as a director of a company.

    However, under some circumstances, the individuals decide to surrender the allotted DIN to the government. Here we will discuss such circumstances where DIN is needed to be surrendered and the process of doing so.

    Reasons for Surrendering Director’s Identification Number

    Some of the reasons due to which an individual needs to surrender his DIN are:

    Having more than one DIN
    DIN obtained by fraudulent means or a wrongful manner
    Death of the individual whose DIN it is
    The individual is declared of having unsound mind by the court
    The individual in question has been declared as insolvent
    The individual is no more associated with any company/LLP
    The DIN has not been used for a while or is not intended for future reference also

    Board Resolution for Surrender of DIN

    To surrender your DIN, it is important to check its eligibility to be surrendered. The DIN can only be surrendered if the following conditions hold true:

    The concerned individual should never have been appointed s a director in any company.

    The DIN should not have been used for filing of any document.
    In respect of an individual who has a possession of more than one DIN, only the oldest DIN can be retained and all the later ones have to be surrendered.
    If the later DINs have been used, the directorship on those DINs will have to be migrated or compounded to the oldest DIN and then they will be surrendered.

    For this, the board of directors will have to pass a board resolution stating that the individual in concern has never been appointed as a director and the DIN in question has never been used, therefore it is eligible for surrender.

    Document Required
    Surrender Of DIN Using Form DIR-5

    A person willing to surrender a DIN can file an E-form DIR-5 with the MCA on their website. DIR-5 requires you to provide the following information:

    DIN Number held by the applicant
    Reason for the surrender of the DIN
    Whether the holder retains any other DIN
    Number of DINs you wish to surrender
    DIN number of the DIN to be surrendered
    The Digital signature certificate of the concerned individual

    In case of a death of the DIN holder or if he is declared as a person of unsound mind by the court or the person has been adjudged as insolvent, a related person can file form FIR-5 on behalf of the concerned individual.

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      Board Resolution for Surrender of DIN

      The procedure to surrender a DIN is as follows:

      The holder of the DIN applies for its surrender with regional director in the form DIR-5.
      The application is accompanied by a duly notarized affidavit declaring that the individual has never been appointed as a director in any company and the DIN in question has never been used.
      RD-1 attached with DIR-S is filed with Regional Director.
      The central government will check its records and if no discrepancy is found in the forms submitted, the DIN is cancelled.

      Attachments of Form RD-1

      Following documents are attached with the form RD-1:

      DIR-S
      Copy of PAN card self-attested
      Copy of passport self-attested
      Affidavit of the surrender of DIN
      Board resolution if any’

      Information Mentioned in DIR-5

      Information that is required to be mentioned in DIR-5 is:

      Name and DIN of the applicant
      Reason for the surrender of DIN
      PAN number
      Passport Number
      Permanent address of residence
      Phone number and other contact details
      Digital signature certificate of the person himself

      Procedure to surrender a DIN is easy but it is important to make sure that the DIN has never been used or in case of multiple DINs, during the time of surrender there is no directorship issued on the surrendering Director’s Identification Number. Also, after the surrender of the DIN, one should apply to the Company Law Board of the Companies Act, 2013 for the compounding of Contravention.

       

      Alternately Call our Legal Expert Now For Free Consultation at 09599653306

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