Penalty for Default of Certain Provisions [If any individual or director of a company makes any default in complying with any of the provisions of section 152, section 155 and section 156, such individual or director of the company shall be liable to a penalty which may extend to fifty thousand rupees and where the default is a continuing one, with a further penalty which […]

Obligation to Indicate Director Identification Number Every person or company, while furnishing any return, information or particulars as are required to be furnished under this Act, shall mention the Director Identification Number in such return, information or particulars in case such return, information or particulars relate to the director or contain any reference of any director.  

Company to Inform Director Identification Number to Registrar (1) Every company shall, within fifteen days of the receipt of intimation under section 156, furnish the Director Identification Number of all its Directors to the Registrar or any other officer or authority as may be specified by the Central Government with such fees as may be prescribed or with such additional fees as may be prescribed 1[Omitted]

Director to Intimate Director Identification Number Every existing director shall, within one month of the receipt of Director Identification Number from the Central Government, intimate his Director Identification Number to the company or all companies wherein he is a director.  

Prohibition to Obtain More than One Director Identification Number No individual, who has already been allotted a Director Identification Number under section 154, shall apply for, obtain or possess another Director Identification Number.  

Allotment of Director Identification Number The Central Government shall, within one month from the receipt of the application under section 153, allot a Director Identification Number to an applicant in such manner as may be prescribed.  

Application for Allotment of Director Identification Number Every individual intending to be appointed as director of a company shall make an application for allotment of Director Identification Number to the Central Government in such form and manner and along with such fees as may be prescribed. 1[Provided that the Central Government may prescribe any identification number which shall be treated as Director Identification Number for the

Appointment of Directors Section 152 of The Companies Act, 2013 outlines the rules for appointing directors in a company. Let’s break down the provisions in simpler language. Provision for First Director: If a company’s articles don’t specify the appointment of the first director, the individuals who signed the memorandum become the first directors. In the

Appointment of director elected by small shareholders A listed company may have one director elected by such small shareholders in such manner and with such terms and conditions as may be prescribed. Explanation.—For the purposes of this section “small shareholders” means a shareholder holding shares of nominal value of not more than twenty thousand rupees or such other sum as may

Manner of selection of independent Directors and maintenance of databank of independent directors (1) Subject to the provisions contained in sub-section (5) of section 149, an independent director may be selected from a data bank containing names, addresses and qualifications of persons who are eligible and willing to act as independent Directors, maintained by any body, institute or association,