e-Governance News

Electronic ID system for company directors in India

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The company affairs ministry in India is planning to issue mandatory identification numbers for all directors on the boards of companies after a thorough verification of their credentials and antecedents.

The director identification number (DIN) will be used to keep a constant eye on them as the ministry's e-Governance system takes off on January 16. It will help the government track whether a director sits on the boards of more than 15 companies or whether a director on the board of a company, which has defaulted on its statutory obligations, is violating the law by sitting on the board of another company. Such offences will be immediately detected as all the 20 offices of the registrars of companies (RoC) will be networked by April. Besides, the ministry will also use the e-governance project to identify and send notices to companies which default in filing statutory documents.

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