Pursuant to section 153 of the Companies Act, 2013 and rule 11 of the Companies (Appointment and Qualification of Directors) Rules, 2014
Article explains Why to Surrender DIN, Occasions in Which Surrender of DIN is Required (Reasons of Surrender), Which DIN is to be retained & Surrender, Procedure of Surrender of DIN and Attachments with Form DIR-5 for Surrender of DIN.
Page Contents
Why to Surrender DIN?
A Director shall be in possession of only 1 DIN similar to PAN of any individual. Even if he/she is a director in more than one company, he/she shall have only 1 DIN. If a director uses more than one DIN, it is a prima facie evidence of the violation of the law. More than one DIN may get generated through illicit ways.
Occasions in Which Surrender of DIN is Required (Reasons of Surrender)
- Having multiple DINs
- DIN was obtained in a wrongful manner or by fraudulent means
- Death of the concerned individual
- Concerned individual is declared as a person of unsound mind by a competent court
- Concerned individual has been adjudicated as insolvent
- Concerned individual is/was not associated with any company/LLP
Which DIN is to be retained & Surrender?
The oldest of the all is to be retained by the multiple holder of DIN & the Latest is to be surrender.
Procedure of Surrender of DIN
The holder of DIN has to file DIR-5 in order to retain only one DIN & additional DINs are to be Surrender by Multiple holder of DIN.
Attachments with Form DIR-5 for Surrender of DIN
- latest passport size photograph
- Proof of Identity of the applicant
- Proof of residence of the applicant
- Affidavit including declaration that retained DIN will be updated with all associated CIN/LLPIN
Author Bio
