A K Prabhakar IDBI Capital Wealth Creation in Challenging Share Markets


A K Prabhakar 

IDBI Capital 

Wealth Creation in Challenging Share Markets

Investor Meetings
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Time to Try Electronic Funds Transfer..! By Ishaan Gera


 Time to Try Electronic Funds Transfer..!
By Ishaan Gera

National Electronic Funds Transfer is one the most used online transfer modes in the banking sector. It can be done via a mobile app or a bank account and requires you to have the account name, number and the IFSC code.

1. NEFT


National Electronic Funds Transfer is one the most used online transfer modes in the banking sector. It can be done via a mobile app or a bank account and requires you to have the account name, number and the IFSC code.
BANKING has taken a hit with swathes of people wanting to convert their currency for basic transactions. Though it would take time for things to return to normalcy, there are ways to avoid standing in queues by using online channels of transfers and payments.

In fact, NEFT, IMPS and RTGS modes of payment have been in existence for long now, but they command only a small share of transactions as compared to cash.

The government earlier this year also launched Unified Payments Interface (UPI) to make transfers easier and faster. If you have not used any of these services in the past, now may be a good time to start.

National Electronic Funds Transfer is one the most used online transfer modes in the banking sector. It can be done via a mobile app or a bank account and requires you to have the account name, number and the IFSC code.
Though there is no minimum amount for transfer, the maximum amount that can be transferred is Rs. 10 lakh. Payments are made in hourly batches, leading to some delay in money transfer. There are 12 settlement times between 8 am and 7 pm on weekdays.

Though money transfer usually takes place on the same day, if you have made a transfer after 6 pm or 7 pm then the payment is usually credited on the next day. Banks charge R2.50 plus service tax for transfers up to Rs. 10,000, R5 plus service tax for transfers of above Rs. 10,000 up to Rs. 1 lakh, Rs. 15 plus tax for transfers of above Rs. 1 lakh up to Rs. 2 lakh, etc.

2. RTGS..!

If you are in a bit of a hurry and need to transfer large funds immediately, then Real Time Gross Settlement (RTGS) may be the best option.

The process of transfer is similar to that of NEFT, but the settlement is made immediately. RTGS is primarily for large fund transfers of Rs. 2 lakh to Rs. 10 lakh.

Though one can schedule an RTGS payment in advance for three working days, the charges are a bit more than NEFT.

RTGS transactions incur a charge of Rs.25 plus service tax for payments up to Rs. 5 lakh and Rs. 50 plus service tax for amounts more than Rs. 5 lakh for retail customers.

3. IMPS..!
Immediate payment service (IMPS) is a 24X7 service launched by the National Payments Council of India. While it allows for real time transfer of funds like RTGS, there is a limit of Rs. 2 lakh for transfers.

The IMPS, besides a payment mechanism like the other two services, also offers the facility of MMID—a seven digit Mobile Money Identifier code which can be generated by SMS or internet banking—and mobile number transfer.
One has to register mobile number along with MMID code for the account to which money is to be transferred. Though charges are left to the discretion of banks, banks charge R5 plus service tax for transfer up to R1 lakh and R15 plus service tax for above Rs 1 lakh.

4. UPI..!
This newly launched service by NPCI is modelled on IMPS platform to provide 24×7 transfer facilities. The transaction limit is just R1 lakh.

One can download an app of any bank and initiate a transfer by using a virtual payment address which is similar to an e-mail address for the account.
The transaction just requires an M-Pin for verification and the fee is similar to that of IMPS.


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Health Insurance Claims: Can not be rejected after Eight Years !


 Health Insurance Claims: 
Can not be rejected after Eight Years !
Yes, you are reading it right  
As per the IRDAI’s recent proposed standardized guidelines on health policies, your health insurance claims can’t be rejected after 8 years.
This may be the biggest relief to many.
As per the recent (16th May 2019) IRDAIs exposure draft on the “Guidelines on Standardization of Exclusions in Health […]



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DSC Registration : A Digital form of Identity Proof..!


DSC Registration : A Digital form of Identity Proof..!

Introduction

A DSC Registration is an automatic plus electronic form of signature. Its use is to verify the identity of the signer of the document. Also, use in online transactions for authorization. This certificate applies as identity proof. It is very valuable for the purposes of EPF, income tax department etc. The DSC Registration is important for the companies, business, firm and Entrepreneurship.
The ITA Act of 2000 had provisions to apply Digital Signature to secure and authenticate of the documents presented in electronic form. This is a safe and genuine way to submit a document. The time duration for Finishing of the DSC Registration is 2 - 4 days.
The places where you can use Digital Signature :
  1. Filing GST Return
  2.  Business
  3. Finance and insurance sector
  4. Income tax filing
  5. Personal Use
  6. For E-filing of ROC

Classes (Types) of Digital signature

The determination of the DSC registration depends on the need, type of candidate and the reason for using it. There are 3 classes of DSC declared by the certifying officials.
  • Certificate of Class 1
This certificate issues to business personnel as we as the private individuals and subscribers. The certificates confirm all the detailed information like a user's name, email and contact details. These all are simply marked point lie in the database of the verifying authority.
  • Certificate of Class 2
This certificate issues to the signatory authorities or director of the company. The purpose of the class 2 certificate is e-filing with the ROC. It's compulsory for individuals who sign the manual documents while filing returns in reference to ROC.
  • Certificate of Class 3
This certificate applies in online bidding or participation in the e-auction and online tenders. The merchants who wish to engage in the online tenders need to have the certificate of class 3.

Benefits of DSC Registration

  • Recognized by the lawful and legal body.
  • Once DSC is registered no compliance is required.
  • The DSC is safe and secure from the written signatures.
  • DSC saves time as it eliminates the presence of the physical appearance of the signee.
  • The renewal process of certificates timely makes them validated.
  • This the most secure way of signing plus its widely allowed.
  • Documents that are signed digitally cannot be modified or updated after signing. That makes the data secure.

The Steps involved in DSC Registration

  • STEP 1:  Log in to a website and choose your kind of entity.
  • STEP 2: Fill the necessary details. For example, Validity, Applicant name and contact details, Attestation officer, DSC class  etc
  • STEP 3: Address and Identity Proof.
  • STEP 4: Payment for Digital Signature Certificate
  • STEP 5: Post the documents required and mentioned below in the document required.

Documents Required for DSC Registration

  • Indian Individual
    1. AADHAAR Card
    2. Passport
    3. Voter ID Card
    4. Post Office ID Card
    5. Passbook comprising sign and photograph of applicant .attestation from bank manager/official.
    6. Photo ID allocated by a state government or Ministry of home affairs of centre.
    7. Issued Photo ID from any goverment mentions the signature of the applicant.
    8. Applicants PAN card
    9. The Water Bill and Electricity Bill of the applicant. Note that it should be fresh or 3 months old.
    10. Recent Bank Statements signed by the bank .make sure statements are not older than 3 Months.
    11. Service Tax registration certificate.
    12. VAT Tax certificate of registration.
    13. Sales Tax registration certificate.
    14. Property Tax/ Corporation/ Municipal Corporation Receipt.
    15. Driving Licence with RC.
  • Indian Organization
  1.  Applicant’s Organizational ID Card  or Letter from Organization  or Pay Slip copy
  2. A copy of the Organizational PAN Card
  3. Copy of Bank Statement.The First 2 Pages of statements.
  4. Registration Certificate or Incorporation copy.
  5. A copy of  MOA and AOA.
  6.  Last Income Tax Return copy
  7. A Copy of Audit Report & Annual Return
  8. Copy Self Affidavit with reason, if not available.
  9.  Partnership Deed or Trust Deed or LLP Agreement copies. Comprising the list of  Signatories or Partners.
  10.  Business Registration Certificate copy including  S&E or ST or VAT.
  11. Proof of Authorized Signatory.
  12. Authorized Signatory Organizational ID Card plus Self-Attested Letter of Organizational Identity.
  •  Foreign Individual
  1. Applicant Passport
  2.  VISA in case the applicant is out of the native country.
  3.  Resident Permit certificate in case the applicant is in India.
  4.  Any other address proof issued by the government.
Note: All the documents must have proper attestation and in the form of copies. Don't provide the original documents. Give copies of all the documents.
        1. Foreign Organization

    1. Passport of Applicant
    2. VISA in situation the applicant is out of the native country.
    3.  A certificate of Resident in situation the applicant is in India.
    4.  Any other address proof issued by the government.
Note: All the documents must have clear attestation and in the form of copies. Don't provide the original documents. Give copies of all the documents.

General Instruction for DSC Registration

  • Sign of the applicant needs to be in Blue Ink (only)
  • The sign of the applicant is considered as the ID proof.
  • Cross-Sign in the application form is a must on the photo of the applicant.
  • The supporting documents need attestation from Gazetted Officer or Bank Manager or Post Master.
  • Authorized Signatory attestation is allowed in the organizational documents.
Note: The attested copy of the Organizational ID Card of Authorized Signatory is compulsory.
  • An attestation proof from the officer, The following proofs are mandated :
  1. Name of the officer
  2. His/ Her contact Details
  3. Designation
  4. Office Address
  5. Contact Number
This counts on to be a part of attestation.
Note: If giving separately it needs to be attested either by the Attesting officer or the Applicant.

Points to Remember for Registration

  • DSC is issued for 1 - 2 years. After this time duration, their validity has expired, they need to be renewed.
  • Digital signatures documents are fair in the eyes of legal courts as proof or evidence.
  • The person can have many DSC but needs to have Valid reasons. One can have it for a personal reason as well as for official reason also.
  • For Incorporation of a company online all the documents need to have DSC of a director of the company. In accordance with classes of DSC the company direct need to have Class -2 certificates.
  • DCS can apply by the direct approach of CAs ( Certifying Authorities ) with the original documents and attested copies.
  • Moreover, the DSC obtains from CA using Aadhar eKYC based on authentication.No further documents are needed after this.
  • A certificate or a letter from the Bank are accepted. The condition is the letter needs the certification by the manager of Bank. Bank database is accepted if it comprises all details of the applicants.
  • A DSC is renewed after completing the valid 1-2 year.
  • MCA has declared 6 official and certified authorities. For DSC registration certification applicant should obtain these following authorities.
  1. NIC: National Informatics Centre
  2.  Institute for Development and Research in Banking Technology
  3. Safe Script
  4. e-Mudhra
  5. NC-Code
  6. Tata Consultancy Services
  7. The price of the USB token applies to save the certificate. That includes in the charges.
  8. The documents and hard copies of the forms will be sent by the courier to the applicant. This takes about 2-5 days.
  9. General Reasons: For Refusal of DSC Registration.

Genuine Reasons for the Refusal of DSC Registration

  • The documents provided which old more than 3 months. They are not considered as a valid attachment.
  • The seal or stamp does not include membership or practising certificate number.
  • Prefixes are used like Mr., Ms., Shri etc. Are used in the applicant’s name.
  • Making use of abbreviating names. Compressing the directors’ names, regardless of what is specified in the ID or address proof.
  • Doing spelling mistakes in the name of the applicant.
This article is composed by Shrishti Jain. A content writer at LegalRaasta.LegalRaasta is a leading portal in India. It provides a platform that renders legal services at a worthy cost like Company Registration, Digital signature, EPF registration and so on.



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CBRE Capital Markets establishes itself as No. 1 in India with 50% market share..!


CBRE Capital Markets establishes itself as No. 1 in India with 50% market share..!

-       Commercial Real Estate (CRE) witnessed USD 4.7 billion of investment in 2018. CBRE’s Capital Markets team executed transactions worth over USD 2 billion
-       Mumbai dominated the overall industry with over 40% share of transactions

CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm today announced details of the business volume generated by its Capital Markets team and established itself as the number one team in its domain with a 50% market share.

With a comprehensive suite of services such as Capital Raising, Land Services including land sales, joint developments and development management agreements; Core Asset Sales, HNI and Family Office Advisory and Advisory to Fund Portfolios, the Capital Markets team helped its clients through a range of transactions such as Investment Sales, Foreign Investment (FDI), Structured Debt, Construction Financing and LRDs, Equity Placement, Core Asset Sales, etc.

Of a total investment of USD 4.7 billion in Commercial Real Estate (CRE) in 2018, transactions worth over USD 2 billion were executed by CBRE’s Capital Markets team.

Commenting on this achievement Mr. Anshuman Magazine, Chairman and Chief Executive Officer (India, South-East Asia, Middle East and Africa), CBRE said, “The Capital Markets team has successfully positioned itself as an integrated capital solutions provider- offering Capital Raising, Land, HNI Advisory and Core Office Acquisition/Divestment Services. The business reached an all-time high in 2018 and reinforced its number one position for Land and Capital Markets for the third consecutive year in India.”

Talking about the overall performance of Capital Markets in 2018, Gaurav Kumar, MD & Co-Head Capital Markets, CBRE said, “The previous year also marked our expansion in key geographies in the country. We successfully executed some key transactions which helped us strengthen CBRE’s leadership position in this domain.”      
The Capital Markets team has significantly contributed to the industry’s growth by arranging crucial capital requirements and has successfully positioned itself as a one-stop solution for all capital and investment needs of the commercial real estate industry.

“2018 was a very successful year for CBRE; our growth has maintained a consistent positive trend and Capital Markets has significantly contributed towards it. We foresee strong growth in the coming years as well,” said Nikhil Bhatia, MD & Co-Head Capital Markets, CBRE.

The Capital Markets team in 2018 advised on some marquee real estate investment advisory deals in India and succeeded in maintaining its number one position.

Speaking about the performance of the real estate industry in the country, Bhatia said, “Investment momentum for the overall real estate sector is expected to witness an up-tick from previous years. CBRE’s expertise in providing advice, qualitative and quantitative analysis and exceptional execution capabilities for alternative capital solutions for corporate owned and occupied real estate is a push towards these investments.”

Speaking about the expected trends among capital providers in 2019, Kumar said, “The present year is expected to see an increase in institutional equity investments in office and retail developments, boutique transactions in hospitality and sustained activity in land acquisitions and land JDAs and JVs.”

He further added that increasing focus on due diligence in the market will lead to improved loan quality, but may result in rising costs as well.

Some key trends to be witnessed in Capital Markets in 2019:

-       Consolidation amongst NBFCs – The NBFC market in India is currently witnessing an overcrowding situation. In the current situation of cautious funding exposure towards NBFCs, the larger ones are expected to manage their liabilities by tapping public issues, while the smaller ones fill find it a challenge to seek alternate source of funding.

-       Loan Quality to Improve – With RBI being aggressive with cancelling licenses of non-compliant NBFCs (around 4500 NBFCs have had their licenses cancelled till October 2018), it is eventually going to result in a clean-up, ensuring availability of capital for quality assets.

-       Due diligence to come in sharper focus – Investors are expected to be selective in their investment, with core, Grade A assets remaining as favoured investment.

-       Shift towards core assets and LRDs – As fresh disbursements are slowing down and caution looms around new assets and land, assets that are backed by some type of collateral as well as score assetws are likely to be in greater focus. It largely implies that there is likely to be greater focus on LRDs and core assets while financing/refinancing opportunities with existing partners and land deals are expected to be slow.

-       REIT becoming a reality – As the sector gets more organized, HNIs and NRIs investors are realizing that instead of taking on the pain of directly buying, managing and maintaining commercial properties, they can also participate through a REIT.

-       The yield conundrum - On the backdrop of increased demand for the dollar, rising crude oil prices and liquidity issues has resulted in 10-year bond yield breaching the psychological 8 % mark during 2018. On the other hand, prime yield in sectors such as office and retail are also around the 8.0-8.5 % ballpark, owing to marginal growth in rents and increase in capital values.

2018 In Graphs:

Figure-1 Investment Across Major Sectors – 2018      

           Figure-2 Investment Across Major Cities - 2018

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates) and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. CBRE was the first International Property Consultancy to set up an office in India in 1994. Since then, the operations have grown to include more than 8,000 professionals across 10 offices with a presence in over 80 cities in India. As a leading international property consultancy, CBRE provides clients with a wide range of real estate solutions, including Strategic Consulting, Valuations/Appraisals, Capital Markets, Agency Services, Asset Services and Project Management. The guiding principle at CBRE is to provide strategic solutions that make real estate holdings more productive and economically efficient for its clients across all service lines.
CBRE has been included in the Fortune 500 since 2008, ranking #207 in 2018. It has also been voted the industry’s top brand by the Lipsey Company for 17 consecutive years and has been named one of Fortune’s “Most Admired Companies” in the real estate sector for 6 years in a row.

Follow us:
On Twitter: @cbre_India

For more information:

Anshuman Dutta
Anshuman.gunjan@cbre.com
Mobile: +91 9971553969

Supreet Ahuja
supreet.ahuja@adfactorspr.com
Mobile: +91 99992 02252



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J&K Bank more than doubles it profit to Rs 465 Cr



J&K Bank more than doubles it profit to Rs 465 Cr

J&K Bank, the state owned premier financial institution reported a 129 % growth in net profit for the Financial Year 2018-19 at 465 Cr as compared to 202 Cr in the previous fiscal. In the March quarter bank has reported a profit of 214.80 Cr as compared to 28.41 Cr in the corresponding quarter of FY 2018.  Buoyed by strong retail credit growth, sale of partial stake in PNB Metlife and resolution of some large NPLs the total income of the bank rose to Rs 8487 crore in the FY 2018-19 as compared to Rs 7116 Cr a year ago.
The results for the FY 2018-19 and Q4 FY 18-19 were announced by the Bank today after Board of Directors of the Bank adopted the audited numbers of the Bank in its meeting held at Bank’s Corporate Headquarters Srinagar. The growth in J&K state credit has been reported at 23% over the last year and net interest income the difference between interest earned on loans and that paid on deposits grew by 42 % in the 4th quarter of the financial year 2018-19.The NIIM of the bank which is an indicator of profitability was calculated at 4.05 for the 4th quarter and on full year basis it improved to 3.84% as compared to 3.65% in the previous fiscal.  
The Chairman & CEO JK Bank while acknowledging the support and guidance of the Board of Directors in navigating the bank in challenging times attributed the turnaround & stellar growth in the top and bottom line of the bank to the unflinching trust of the promoters and customers of the Bank especially from the J&K state. He commended the management team, business heads & operative staff for robust credit growth, management of NPAs, NPA recovery, improvement in Compliance culture etc. despite a challenging environment.  
“Our numbers are unfolding in line with our strategic business plan to direct the focus of our credit expansion in J&K state especially in retail & SME segments. We are continuously gaining market share in J&K besides improving the penetration of credit to hitherto credit starved geographies/segments especially in consumer and housing sectors. If you see our segmental numbers in retail, housing has grown by 79% from 3117 Cr to 5384 Cr, Consumer finance has grown exponentially from 195 Cr to 1978 Cr, Car loans have grown by 37 % from 2000 Cr to 2741 Cr resulting in aggregate retail credit growth of 33%. The Corporate to retail mix of our overall advances is now 43 Corporate  to 57% retail as compared 53 Corporate to 47 Retail a couple of years ago.” announced the Chairman.
“The results also validate our medium term growth strategy which is fanning out as envisioned to achieve   a total business of about 2.50 Lac Cr with a targeted profit of Rs 2000 Cr, NIIM ranging between 3.5-4%, ROA of 1.3%, ROE of 16% and credit cost below 1% at the end of FY 2022. We will carry forward the momentum of the robust business growth of previous fiscal to the current Financial Year and set the tone of exponential growth for strengthening the new paradigm of sustained profitability. I can say confidently that once our provisioning requirements due to ageing of NPAs are over may be in 3-4 quarters, the best in terms of bottom line is yet to come. “added Parvez Ahmed.
Outlining his vision to take the growth and business of the bank to the next level the Chairman informed about the roll out of new Zonal structure at the District level w.e.f. Q2 of the current financial year to dovetail the state governments budget/development plan with the business plan of the bank with a vision of socio economic development of the state. The Bank he added will be targeting to extend its outreach for facilitating the vast majority of rural population of the state including the bottom of the pyramid population, which is dependent on informal channels for their financial needs. This he said will further strengthen the Bank’s low cost CASA franchise, which at 50.7% is one of the best in the banking industry.
“As I have been saying earlier too, we see a lot of unmet demand and potential for increased lending in sectors of SME, Tourism Infrastructure, Agriculture & Allied, Infrastructure (Government Spending), Home Loan, Personal Finance to Govt. Employees, Horticulture, Gold Loans etc which is validated by exponential growth in the past few quarters. Promoting the startups & new entrepreneurs also remains our priority area as we go deeper in the geographies in congruence with the policy support for startups at the state and central government level and we will act as an enabler for the bright youths of our state,” said Parvez Ahmed in the statement issued to the press.
The bank’s total business as on the close of 31st March 2019 touched 1,61,864 Cr comprising of deposits of Rs 89638 Cr and gross advances of Rs 72226 Cr  as compared to 1,42,466 Cr an year ago registering an increase of around 14%. The Bank reported a stable low cost of funds at 4.90% with a CASA contribution of 50.7%. The NPA coverage ratio has seen a minor dip on sequential basis to 64.30 % mainly because of downgrade of the IL&FS and its group companies. As a percentage of total loans, the Gross and Net NPA ratios of the bank improved to 8.97% and 4.89 % as compared to 9.96% and 4.90% a year ago. Notably the Bank recovered NPAs of Rs 2750 Cr during the year besides making provisions of over Rs. 1000 crore for bad & doubtful debts.
Bullets in center:
Ø Eight consecutive quarters of profitability after loss of Rs 1632 Cr in 2017
Ø Total Business Crosses 1,60,000 Cr
Ø Balance sheet size grows beyond 100,000 Cr
Ø Profit growth of 129% over the previous year


Share market pundits are bullish on the prospects of the JK Bank based on its undisputed leadership in the J&K state with a market share of 65% and growing, high CASA ratio, better yields on advances in the state leading to a NIM of more than 5% in the J&K state business, which is growing. The bank, which was earlier focused on lending to bigger companies mainly in its rest of India portfolio, has been for the last couple of years focused on SME and Retail customers in J&K state who are more profitable and ring-fenced from competition due to higher entry barriers to meet the geographical outreach of the Bank in J&K state. The Operating Income of the Bank as per the analysts will be further amplified in the current fiscal as the pressure of interest capitalization due to JK Restructured Portfolio is also over now. Additionally to support the robust credit growth, the Board of the Bank has already accorded approval for raising additional Tier I and Tier II capital to the extent of Rs 1600 Cr. The analysts are expecting substantial upside as the share of the bank is still trading at a steep discount to its Book value of Rs 119.




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HDFC Hybrid Equity Fund: The change in base Total Expense Ratio - TER


HDFC Hybrid Equity Fund: The change in base Total Expense Ratio - TER
The change in base Total Expense Ratio (TER) of HDFC Hybrid Equity Fund effective May 21, 2019.
Please click here for detailed notice. 
Scheme Name(s)
Base TER
Direct Plan/Option
Effective Date
HDFC Hybrid Equity Fund
FROM
TO
0.91%
0.96%
May 21, 2019


For any queries or clarifications in this regard, please contact your distributor


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What is din and how to register for its application online What is DIN?


What is din and how to register for its application online

What is DIN?

Din is a Director identification number. But what is DIN? It is an individual eight-digit number which is needed for any current or recommended Director of a company. 

It has been originated in India by means of the Companies Amendment Act, 2006.
DIN number is particular to a person. 


Means if a person is a director in 2 or more than 2 companies. Then he/she has to receive only 1 DIN number. 

Apart from this if a person leaves a company and joins some other company. Then the same DIN can work in the company the person is joining.

Where does the DIN is used?

As in the above, one is clear with what is DIN? Now where we can use din.
The use of din can be found easily. Where there is a requirement of annual return fillings or many others filling the application. 

Even any information linked to a company under a law. In that case, a director has to sign and approve. 

All applications, returns or details linked with DIN number below the signature.

What is the purpose of a DIN number?

The DIN gives a different identity to the director. Plus benefits in securing data of every director in a database. Earlier many Indian cities had chit fund companies. Ensuring its residents' unique returns, then leave with their money to a different city.

To cross-check these persons and to assure the director’s identity is valid. All data must be given true to the government began the DIN. Therefore, the DIN list will include every data concerning the directors. For example, their Name, Address proof and PAN number. A change in the address or other details requires to be updated instantly.

The greatest part of DIN is that irrespective of the number of companies. A person drifts, they can apply their DIN received for a lifetime existence. Simply means DIN is precise to the person who has received it. Not for the company a person has got it.

Why it is important to have a DIN number?

  • DIN is important in determining the directors of companies. Thus abolishing every possibility of vanishing them with the investor’s money. Many companies have been created essentially with the purpose of raising funds by cheating investors. In this case, DIN works easily for the police to trace fraud directors. So DIN has a record of the important data regarding the directors and their own companies.

  • It's necessary for every director to register for a DIN in accordance with the Companies Act, 1956. This pin is unique and therefore each director needs one individual DIN.

  • The incorporation's of the new company first requirement are DIN.

  • DIN functions like an account of all the major effects in the director’s life. That includes their history and prevailing participation in other companies. In circumstances of any modifications in the basic data of the director. The information is passed on to the central government.

What is the procedure for DIN Application?

A DIN is necessary for registering any company in India. No one can be a director without the din. A Digital signature and its certificate is a must for practising for the DIN. The DSC is taken in the form of a USB. Also, it is valid for one to two years.

To get a DSC, one need to fill an application for the same. That will, comprise of the signature, residence proof and identity proof. Each of the documents needs to be self-attested.

The following proofs are required:
  • Voter ID card

  • Utility bills

  •  Tax receipts -corporation, property tax, service tax and sales tax, registration and many more

  •  Bank Statement - Must be attested.

  •  PF statement

  • Driving license

  •  PAN card of the applicant (for Indian nationals)

  •  Passport

  •  Passport of the applicant, if they are foreign nationals and NRI’s.
For NRIs and foreign nationals, the self-attested copies. Also, identity proofs need to be checked by their embassy. 

In case of NRIs, the Indian Embassy will check.

Once the DSC is received, one can appeal for a DIN.

How to register for DIN application?

  • The DIN registration, suitably signed with the DSC is be submitted to the MCA( Ministry of Corporate Affairs). Also, one must have a photograph, Id proof and address proofs.

  • The DIN number is provided instantly if the application is complete and all data presented is appropriate. In the case of explanations asked by the DIN cell, they require to be provided by the applicant.

  • A DIN is a constant number provided to a director. So, all data is saved in the Ministry database. A DIN can be examined through the DIN or DPIN search.

  • The DIN application gets prepared in 2-3 days. Making it simple for directors to receive them throughout the company registration procedure. The DIN allotment letter with the implication is forwarded to the applicant to complete the procedure.

what are the steps for DIN Application?

Applying for DIN is a really simple and automatic process. Stepwise procedure for appealing for DIN is as follows :
  •   Step 1: Visit the website the official website by the government. register for a fresh ID. Download the DIN-1 form. Fill all the details.

  • Step 2: Once the form is filled, all the documents that are needed to be uploaded and are ready to log into the website.

  • Step 3: Then make the payment through according to your requirement. That is net banking, credit card or debit card.

  • Step 4: Instantly after the payment, a unique DIN will be formed. It can be of 2 types, depending on who has approved the form. It can be approved DIN signed by a charted accountant. Also, it can be Provisional DIN if signed by an applicant. If he/she is the CEO or director of the current company. 

Which are the Forms linked to DIN ?

Number of forms
Purpose of it
 DIR-3C
 Intimation of DIN by Company to the Registrar
DIR-3 
 DIN allotment Application
 DIR-6
Application for changing details submitted in DIR-3 
 DIR-5
 Application for surrendering DIN

Is there any validity for DIN?

 DIN numbers never have an expiry date. Also, no additional agreement formalities are needed for keeping the validity of a DIN number. 

It is given by means of implication through DIN allotment letter.No additional documents are circulated.

This article is written by shrishti Jain. A content writer at LegalRaasta.The leading ca and cs firm of India. We provide information regarding DIR-3 e-KYC, Digital signature registration, company registration or more.


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