Simplification of Director Identification Number (DIN) rules (Completely online and Immediate DIN Approval)April 28, 2011 at 10:08 am | Posted in General | Leave a comment
The MCA has re-examined the cumbersome process of allotment of Directors Identification Number and based on the recommendations received, constituted a Group to examine the business process re-engineering under MCA-21. In order to speed up and simplify the process to obtain a DIN, the below mentioned procedure has been recommended.
• DIN Application will be made only in e-Form (No physical submission) along with scanned documents and online payment of fees (No payment through challans). The application can also be submitted online by the applicant himself using his Digital Signature Certificate.
• DIN 1 e-Form can be digitally signed by the professional who shall also confirm that he has verified the particulars of the Applicant given in the application.
• Where DIN 1 is verified by the professional, the DIN will be approved by the system immediately online. In other cases the DIN cell will examine the application and same shall be disposed within a day or two. The above procedure also applies to filing of DIN 4 intimating changes in particulars of Directors.
• Penal implications to follow against the applicant and professional certifying the DIN application in case of false information / certification. The aforementioned procedures, is expected to enable the allotment of DIN on the same day.
A notification to notify the aforesaid procedure is in the process of being issued. After issue of necessary notification, the applicant/professionals/DIN Cell are advised to follow the notified procedures for the allotment of DIN. General Circular No.5/2011 dated 4 March 2011- Ministry of Corporate Affairs Process of incorporation of companies and establishment of principal place of business in India by foreign companies simplified and e-payment of MCA fee made compulsory In continuation with their endeavour to help the corporate sector in India operate with maximum ease in a regulated environment, the MCA has issued two General Circulars (the circulars) in relation to simplifying the process of incorporating a Company in India and making compulsory e-payment of fee to the MCA. The below mentioned procedure has been recommended: Approval process followed by Registrar of Companies (ROC) for incorporation of companies Only the application and declaration for incorporation of a company in Form 1 will be approved by the ROC office and other incorporation forms such as notice of situation of registered office (Form 18) and particulars of appointment of directors (Form 32), which were approved by ROC will be processed by the system online. Further, following incorporation forms will be considered by ROC under the category of ‘highest priority’ while processing:
• Form 1A (Application form for availability or change of a name)
• Form 37 (Application by an existing joint stock company or by an existing company for registration)
• Form 39 (Registration of an existing company as a limited company)
• Form 44 (Documents delivered for registration by a foreign company)
• Form 68 (Application for rectification of mistakes apparent on record).
A separate notification is expected, notifying the changes in Forms 18 and 32 to enable them to be taken on record through the online system. With the simplification of the approval process, the MCA expects that the average time taken for incorporation of company shall reduce to one (1) day only. General Circular No. 6/2011 dated 8 March 2011- Ministry of Corporate Affairs
Artin Dynamics incubated by Technopark TBI Trivandrum has been selected as one of infoDev’s top 50 innovative technology led small to medium enterprises. Mr. Nelvin Joseph is the CEO, Artin Dynamics. They are one of the first few companies in India to work solely in the Artificial Intelligence Domain. Artin was selected from over 750 applications from 65 countries, that infoDev received. SMEs from 34 countries made it into the Top 50. Artin features as one among the 3 companies selected for the award in the entire South Asia. The
judges shortlisted the Top 50 based on the growth potential, level of innovation, quality of team, etc.
The company will receive full assistance to attend the 4th Global Forum on Innovation and Technology Entrepreneurship in Helsinki, Finland during May 30 to June 3, 2011. They will also be matched with mentors, angels, corporate partners, like-minded entrepreneurs and other incubators and have wonderful networking opportunities with other participants from around the globe. infoDev (Information for Development program) is a special program of the World Bank and many other international development agencies focusing on how the use of information and communication technologies (ICTs) can help to combat poverty and promote opportunity.
tbi@jec is a unique venture to promote innovation and entrepreneurship among students and the youth in the region.The Technology Business Incubator at Jyothi Engineering College (tbi@jec), was inaugurated by Mr. K.C. Chandrasekharan Nair, Secretary and Registrar, Technopark TBI on March 25, 2011. Rev.Fr.George Edakkalathur, Manager, Dr. U.Lazar John, Principal, Prof. Muralee Krishnan, HOD, CSE, Fr. Varghese Kuthur, Executive Manager, Er. Thomas Mathew, Administrator, Mr. Vinod, Co-ordinator, Jyothi TBI and Mr. Sreejith. S, Technical Officer, T-TBI were present during the inauguration.
Technopark TBI extension centre offers a perfect platform and opportunity for young innovators, entrepreneurs and the student community at large to establish their innovative ventures. With the best of infrastructure, technology and support systems, the innovators can establish their ventures without bothering about building the basic infrastructure. The incubated companies at this EC will be fully supported and mentored by the Technopark TBI, Trivandrum.
Waybeo Technology Solutions launched its first communication platform “BounzD” in India soft Exhibition at Pune during March 25-26, 2011. “BounzD” generated tremendous enthusiasm among the European and US customers who were amazed by the utility of the product in their markets. There were delegates from more than 75 countries. Waybeo signed MOU with 1 US Company who is ready to partner in south east US market and , a UK company who wish to resell the product in United kingdom.
BounzD had number of spot sales at the venue itself which shows the momentum it had created at the venue. BounzD is a cloud-based service for voice communications over the web. It is a communication platform to help the potential customers call business in no time. As soon as the customer enters the website, BounzD scan the customer behaviour and pro-actively make the customer call business. When a customer presses on the BounzD button on an e-commerce or corporate website, online ad, blog or a web page, a call is immediately forwarded to the owner’s landline, mobile phone, Google Talk account or Skype account as per ‘set’ priority and condition
Waybeo Team was represented by Mr Nithun KV(Director Wireless communication) Mr Shiv Shankar MS( CMO) and Mr Bushairusalam AP(CEO)
The first meeting of the TDB Seed Project Management Committee (PMC) of Technopark TBI was held at Technopark on March 4, 2011. The meeting was chaired by Shri. Mervin Alexander, Chairman, T-TBI. Mr. Sanjay Chavre, Scientist E , TDB, DST, Govt of India, Mr. C. Balagopal, MD- Terumo Penpol, Mr. B. Anil, Director, Centre for Engineering Research and Development, Govt of Kerala, Mr. K.C.Chandrasekharan Nair, Secretary and Registrar, T-TBI were present. The PMC formulated the Policies and Procedures for the TDB Seed Support Scheme of Technopark TBI. The committee after hearing to the presentations by companies decided in principle to fund the proposals by Smartguruji Education Solutions Private Limited and Waybeo Technology Solutions Private Limited.
The review meeting of the TePP Outreach Centres for the TePP Scheme of DSIR was held in VIT, Vellore on Feb 16-17, 2011. The meeting was chaired Dr.H.S Maiti, Chairman, TePP Screening Committee. The members discussed various issues related to supporting innovators and promoting the TePP Scheme of DSIR. The meeting also discussed on steps to be taken for taking innovations into the commercialisation phase. Mr. KC Chandrasekharan Nair, TUC Co-ordinator represented Technopark TUC in the meeting and presented the progress of Technopark TUC to the TePP Screening Committee members.
Software industry has emerged as the high opportunity area for startups. Cloud computing, mobile apps, web apps, social media, software products and services are the future of technology. Startups and young developers across India are rising to these opportunities and coming up with ideas which can be world-beaters. In order to enable these ideas to take shape Technopark TBI partnered with Nurture Talent Academy
organised a practical, hands on and interactive workshop for converting ideas into solid executable plans on April 4, 2011. This was the 10th INSPIRE Session organised by T-TBI. Amit Grover, Founder of Nurture Talent Academy , an IIT Delhi and IIM Indore alumnus was the Resource person. He is also a member of Mumbai Angels, India’s leading group of angel investors, and has led 30 early stage deals in 4 years.