MCA UPDATE

Ministry of Corporate Affairs (MCA) is in the process of revising the procedure for DIN allotment.

DIN will now be allotted only at the time of appointment of directors, except for those directors who already possess DIN.

Form DIR-3, with respect to allotment of DIN to individuals, shall be filed only by the existing companies and shall be filed by such existing companies in which the proposed Director is to be appointed.

With respect to new companies, DIN of the proposed first directors will be applied mandatorily in SPICE forms, subject to the ceiling of 3 new DINs only.

With respect to Producer companies, allotment of 2 new DINs shall be allowed in Form DIR-3

Allotment of new DINs for Designated Partners or Partners of LLP shall be temporarily suspended from 26^th January, 2018 to 31^st March, 2018. It means incorporation of new LLP won’t be possible from 26^th January, 2018 to 31^st March, 2018 with Designated Partners or Partners who do not possess DIN.

Hence it is advised for LLPs to apply for DIN of Designated Partners or Partners before 26^th January, 2018.

A separate notification would be issued for the same by MCA