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1 COMPANY SECRETARIAL PRACTICE STUDY I on Sun 27 Jan 2013 - 20:53

tirumalarao_y@yahoo.com


PAPER – I MODULE (I)
COMPANY SECRETARIAL PRACTICE
STUDY I

E-GOVERNANCE OF COMPANY LAW (MCA-21)

1. Director Identification Number (DIN)

DIN means an identification number which the Central Government may allot to any individual, intending to be appointed as director or to any existing directors of a company, for the purpose of his identification as such and includes Designated Partnership Identification Number (DPIN) issued under section 7 of Limited Liability Partnership Act, 2008 and rules made there under.

All existing and any person intending to be appointed as a director are required to obtain the Director Identification Number (DIN). DIN is also mandatory for directors of Indian Companies who are not citizens of India. However, DIN is not mandatory for directors of foreign company having branch offices in India. Only a single DIN is required for an Individual irrespective of the number of directorships held by him.

2. Corporate Identity Number (CIN)

Every company has been allocated a Corporate Identity Number (CIN). CIN can be found from the MCA-21 portal

3. Global Location Number (GLN)

For foreign companies, Global Location Number (GLN) is allotted.

4. Digital Signature Certificate (DSC)

The e-forms are required to be authenticated by the authorized signatories using digital signatures as defined under the Information Technology Act, 2000.

The following four types of users are identified as users of Digital Signatures and are required to obtain digital signature certificate:

1. MCA Employees.

2. Professionals (Company Secretaries, Chartered Accountants, Cost Accountants and Lawyers) who interact with MCA and companies in the context of Companies Act.

3. Authorized signatories of the Company Managing Director, Directors, Manager or Secretary.

4. Representatives of Banks and Financial Institutions.

5. What are the steps for offline eFiling?

1. Select a category to download an eForm from the MyMCA portal (with or with out the instruction kit.

2. At any time, you can read the related instruction kit to familiarise yourself with the procedures (you can download the instruction kit with eform or view it under Help menu).

3. You have to fill the downloaded eForm.

4. You have to attach the necessary documents as attachments.

5. You can use the Prefill button in eForm to populate the greyed out portion by connecting to the Internet.

6. The applicant or a representative of the applicant needs to sign the document using a digital signature.

7. You need to click the Check Form button available in the eForm. System will check the mandatory fields, mandatory attachment(s) and digital signature(s).

8. You need to upload the eForm for pre-scrutiny. The pre-scrutiny service is available under the Services tab or under the eForms tab by clicking the Upload eForm button. The system will verify (pre-scrutinise) the documents. In case of any inadequacies, the user will be asked to rectify the mistakes before getting the document ready for execution (signature).

9. The system will calculate the fee, including late payment fees based on the due date of filing, if applicable.

10. Payments will have to be made through appropriate mechanisms - electronic (credit card, Internet banking) or traditional means (at the bank counter through challan).

(a) Electronic payments can be made at the Virtual Front Office (VFO) or at PFO

(b) (b) If the user selects the traditional payment option, the system will generate 3 copies of pre-filled challan in the prescribed format. Traditional payments through cash, cheques can be done at the designated network of banks using the system generated challan. There will be five banks with estimated 200 branches authorised for accepting challan payments.

(c) The payment will be exclusively confirmed for all online (Internet) payment transactions using payment gateways.

11. Acceptance or rejection of any transaction will be explicitly communicated to the applicant (including facility to print a receipt for successful transactions).

12. MCA21 will provide a unique transaction number, the Service Request Number (SRN) which can be used by the applicant for enquiring the status pertaining to that transaction.

13. Filing will be complete only when the necessary payments are made.

15. In case of a rejection, helpful remedial tips will be provided to the applicant.

16. The applicants will be provided an acknowledgement through e-mail or alternatively they can check the MCA portal.

6. What are the steps for online eFiling?

1. When the business or the registered users access the MyMCA portal, they enter their username and authentication details - Password/Digital Certificate.

2. The user will be shown a list of eForms category-wise under eForms tab.

3. At any time, the users can read the related instruction kit, available under Help menu, to familiarise themselves with the procedures.

4. The users can then fill the appropriate eForm for the service required. There is an option of pre-fill facility in the eForms, where the static details such as name and address of the ompany will be pre-filled by the system automatically on entering the Corporate Identity Number (CIN).

5. The users attach the necessary documents to the eForm.

6. The users may avail the pre-scrutiny service of the eForm. The documents will be verified (pre-scrutinised) by the system. In case of any inadequacies, for example, if a mandatory column in the eForm is not filled in, the user will be asked to rectify before the document is ready for execution (signature).

7. The applicant or a representative of the applicant will then submit the duly signed documents electronically.

8. The system will calculate the fee, including late payment fees, if applicable.

9. Payments will have to be made through appropriate mechanisms - electronic (credit card, Internet banking) or traditional means (at the bank counter).

(a) Electronic payments can be made at the Virtual Front Office (VFO).

14. If the user selects the traditional payment option, the system will generate a pre-filled challan in the prescribed format. Traditional payments through cash, cheques can be done at the designated network of banks using the system generated challan. There will be five banks with estimated 200 branches authorised for accepting challan payments.

10. The payment will be exclusively confirmed for all online (Internet) payment transactions using payment gateways.

11. Acceptance or rejection of any transaction will be explicitly communicated to the applicant (including facility to print a receipt for successful transactions).

12. MCA21 will provide a unique transaction number, which can be used by the applicant for enquiring status pertaining to that transaction.

13. Filing will be complete only when the necessary payments are made.

14. In case of a rejection, helpful remedial tips will be provided to the applicant.

15. The applicants will be provided an acknowledgement through e-mail or alternatively they can check the MCA portal.

6. What is the minimum number of directors required to form a company?

Minimum no. of directors for Private Limited Company: Two. For Public Limited Company: Three.

7.What is the minimum number of subscribers required for registration of a company?

Minimum no. of subscribers for Private Limited Company: Two. For Public Limited Company: Seven.


8.What is the minimum Paid-up Capital at the time of registration of a company?

The minimum paid up capital for Private Limited Company: Rs.1,00,000/- For Public Limited Company: Rs.5,00,000/- This limit is not applicable to company having licence under section 25.


9. What are the documents to be filed with RoC every year?

Invariably, the Balance Sheet and Annual Return have to be filed every year. Other documents such as, Return of Allotment (Form-2), Change of Registered office (Form-18), Change among the irectors (Form-32), Charges (Form-8, 10, 17, 13) etc., have to be filed within the due date from the events taking place in the company as per the Companies Act, 1956.









10. What is the procedure of obtaining DIN?

The process of obtaining DIN consists of seven steps:

Step I. Obtain provisional DIN

The applicant is required to fill-up and submit form DIN-1 online for obtaining provisional DIN. Form DIN-1 is available under 'Apply for DIN' tab on the left hand side panel under DIN' link on the omepage of MCA portal.

Step II. Pay Din application fee

The applicant is required to login to the MCA portal and click on 'Pay Miscellaneous fee' link available under the 'Services' tab. Select 'DIN application fee' option and enter the provisional DIN. Applicant can make the payment of fee by using any of three modes of payment available on MCA portal. Form DIN-1 will be processed only after the DIN application fee is paid.

Step III. Dispatch of DIN application

The applicant is required to take a print-out of Form DIN-1 (containing provisional DIN generated online). Fill the service Request Number (SRN) of the fee paid. Sign the DIN application form manually and paste a good resolution photograph in the space earmarked. Attach the photocopies of the 'Proof of Identity' (Attach additional proof, if 'Father's name and 'Date of Birth' is not indicated in the 'Proof of Identity') and the 'Proof of Residence' with DIN application form and tick the relevant checkbox against the document name. Get the photograph and the attached supporting
documents attested from an approved authority as specified in form DIN-1. The certifying authority must mention its particulars such as Name, COP No. etc, and affix its seal/stamp. Complete set of documents is required to be sent to MCA DIN Cell at Noida, by post, courier or hand delivery, as per convenience, within 60 days from the date of generation of provisional DIN online.

Step IV. Processing of DIN application

DIN application is received by MCA DIN Cell. DIN application form and attached supporting ocuments are scrutinized and if found in order, the provisional DIN is approved and activated in the system. If there is any defect in the DIN application, the provisional DIN is rejected. It takes about a week's time to complete this process. DIN approval/rejection letter is generated and sent by post to the applicant. The status of application can also be tracked from the 'DIN Approval status' tab in the DIN corner.

Step V. Intimate approved DIN to your Companies

On approval of DIN, intimate your DIN to all the company(ies) (within a period of 30 days from the date of approval) in which you are a Director, in form DIN-2. Form DIN-2 can be downloaded and printed from the 'DIN' link on the homepage of MCA portal.


Step VI. Company to intimate your DIN to ROC

After the Director has intimated the DIN allotted to the company(ies), the Company(ies) is/are then required to intimate the DINs of its directors to the ROC in Form DIN-3 within a period of seven days of receiving form DIN-2.

Step VII. Post-approval changes in particulars of DIN-1

If there is any change in the particulars submitted in form DIN-1, File form DIN-4 for intimating the changes in the particulars within 30 days. For instance in the event of change of address of a director, he/she is required to intimate this change by submitting Form DIN-4 along with the required attested documents with MCA DIN Cell.

11. What are the grounds for rejection of DIN application ?

A provisional DIN is approved only after scrutiny of the documents attached with the application. Some of the common mistakes committed by applicants and on account of which the DIN application gets rejected are as under:- Non payment of DIN application fee.

— The DIN application fee is not paid

Non-submission of supporting documents

— The proof of identity of the applicant is not submitted.
— The proof of father's name of the applicant is not submitted.
— The proof of date of birth of the applicant is not submitted.
— The proof of residential address of the applicant is not submitted.
— The Affidavit (for applicant or his/her father's name being a single name) is not submitted.
— The copy of passport (for foreign nationals) is not submitted Invalid Application/supporting documents
— The supporting documents are invalid or expired.

— The proof of identity submitted has not been issued by a Government Agency.
— The application/enclosed evidence has handwritten entries.
— The submitted application is a duplicate DIN application and already one application of that applicant is pending or approved.
— The submitted application does not have photograph affixed.
— The signatures are not appended to the prescribed place.
— The applicant's name filled in application form does not match with the name in the enclosed evidence.
— The applicant's father's name filled in application form does not match with the father's name in the enclosed evidence.
— The applicant's date (DD/MM/YY) of birth filled in application form does not match with the date of birth in the enclosed evidence.

— The address details filled in the application do not match with those contained in the enclosed supporting evidence.

— The prefixes/suffixes like Mr./Ms./Kumari/Shri/Late/Ji etc. are used in the applicant's name or applicant's father's name field in Form DIN-1.

— The gender is not entered correctly in Form DIN-1.

— Identification number entered in application does not match with the identity proof enclosed.

— The application does not contain the valid Service Request Number (SRN) through which the DIN application fee is paid. Improper Attestation of documents

— The attesting authority has not put his signature.

— The documents have not been attested by authorized person.

— Applicant's photograph has not been attested by an authorized person.

— The proof of identity has not been attested by an authorized person.

— The proof of father's name has not been attested by an authorized person.

— The proof of date of birth of the applicant has not been attested by an authorized person.

— The proof of residential address has not been attested by an authorized person.

— The particulars of the attesting authority are incomplete (e.g. professional's name, designation, membership number, stamp/seal).

























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