Surrender of Director’s Identification Number becomes very important by those DIN holders who are neither Director in any Company nor Designated Partner in any LLP and also not intending to do so in near future. For surrendering DIN an application shall be made in Form DIR-5 by the DIN holder along with declaration that he has never been appointed as director in any company and the said DIN has never been used for filing of any document with any authority. Before deactivation of any DIN in such case, the Government shall verify e-records. Therefore, one can opine that, if a person held directorship in any company during his life using such DIN, that DIN can’t be surrender by filing of E-form DIR-5.
Purpose for Surrender of DIN:
Application for surrender of DIN in E-form DIR-5 can be filed with any reason such as:
- Having multiple DINs
- DIN was obtained in a wrongful manner or by fraudulent means
- Death of the concerned individual
- Concerned individual is declared as a person of unsound mind by a competent court
- Concerned individual has been adjudicated as insolvent
- Concerned individual is/was not associated with any company/LLP
