The Registrar of Companies emphasized that Section 155 strictly prohibits holding multiple Director Identification Numbers (DINs). Penalties were enforced despite the subsequent surrender of the duplicate DIN via DIR-5.
Registrar of Companies Clarifies Duplicate DIN Prohibition
The Registrar of Companies (RoC) has reiterated the stringent provisions of Section 155 of the Companies Act, which absolutely forbids the possession of more than one Director Identification Number (DIN). Recently, penalties were imposed on individuals even after they surrendered the duplicate DIN through Form DIR-5.
This ruling emphasizes the necessity for compliance with corporate governance norms as outlined in the Companies Act. Holding multiple DINs can lead to serious legal and financial repercussions, reinforcing the importance of adhering to statutory requirements. The penalties underline the seriousness with which the regulatory authority treats such infringements.
Practitioners should advise their clients on the importance of maintaining only one DIN to avoid potential sanctions and to facilitate smoother compliance with corporate governance standards.
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