Starting a new business is more than an idea. but there are several other things that you need for your product/service and business-like CIN,TAN number, and GST registration. Every business owner is required to adhere to them. One of these rules is registering the business as a company and getting a Corporate Identity Number (CIN). So, if you too are on the verge of starting your own company, it is vital for you to know about the CIN number registration to help yourself with smooth transactions. To begin with, let’s first understand in-depth what a CIN number is?

What is the CIN number?

CIN stands for Corporate Identification Number. CIN Number is a unique 21-digit alphanumeric number provided to all One Person Company, Private Limited Company, Section 8 Company, Public Limited Company, Producer Company, and Nidhi Company registered in India. The CIN number means Corporate Identity Number which is used to track all the aspects of the company. The Registrar of Companies (ROC) of the states under the Ministry of Corporate Affairs (MCA) issues the CIN number. The ROC is primarily responsible for the change of the names of the companies, actions taken against the default companies, conversion of the companies from the public to private and vice versa, etc. The concerned ROC issues a certificate with a unique CIN code and approved name after the formation of a company. The CIN no. reveals the identity and basic information of the company. The number also helps in finding the authenticity of the business.

In this post, we will discuss what the CIN number is, its importance, how to get it, and where it is required.

What is the importance of CIN Number?

CIN numbers are used to track the aspects of the company and must be provided on all the transactions with the respective ROC.

The Corporate Identification Number means the basic information about the company. In other words, each digit of the alphanumeric can be easily translated into important information related to the company.

And so, the Corporate Identification Number is used to find the details of the company registration under the MCA. Various details can be identified and tracked by the information ROC/MCA holds about the company with this number.

What is the format of CIN?

The CIN number is a 21-digit number with each number displaying some information about the company. The format of the Corporate Identification Number is as follows:

Listing status: The first letter of the number represents if the company is listed or not listed. It is U for unlisted status and L for listed status.

Industry Code: The next 5 digits of the number represent the ROC industry code. All different activities have different 5-digit codes and this code is used to identify the type of company. A few examples of the same are as follows:

State Code: The 7th and 8th place represents the state code of the state in which the company is incorporated.  If the company is incorporated in Tamil Nadu or Maharashtra, the 7th and 8th digit will be TN or MH respectively.

Incorporation year: Digits from 9th to 12th place represent the year of the incorporation of the company.

Ownership Type: After the incorporation year, the next three characters represent the ownership type of the company – PLC for Public Limited Company and PTC for Private Limited Company.

Registration Number: The last six digits of the CIN number are the registration number of the company issued by ROC. Notably, the LLPs in India do not have CIN and they instead use LLPIN.

How to get a CIN number?

The CIN number is issued to a company when it is registered with the Registrar of Companies. When the application for registration of a company made through SPICE+ is approved a Certificate of Incorporation is provided. The following things are mentioned on the above-mentioned certificate:

• Approved name of the Company
• Corporate Identity Number
• PAN
• TAN
• Date of Incorporation
• Registered office of the company.

ROC or Registrar of Companies is a government institute that functions to incorporate or register companies. It is situated in all the respective Indian states and Union Territories.

The main objective of the Registrar of Companies is to ensure that all companies in India comply with statutory requirements. The other objectives of ROC include:

• Change of company names
• Actions against the default companies
• Conversion of companies from private to public

Conclusion

CIN no. is used to track all the activities of an enterprise after its registration by RoC. This number contains the identity of an organisation and additional information regarding the registered company under RoC. The company’s information can be accessed using a 21-digit alphanumeric unique identification number by RoC. Online Legal India helps to register your company with the following procedure that is mentioned in this blog.