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What is a Corporate Identification Number and How Can You Get It for Your Business?

Online Legal India LogoBy Online Legal India Published On 12 Jul 2022 Updated On 17 Jan 2023 Category Compliance

A Corporate Identification Number, represented by the acronym CIN, is a special alpha-numeric code given to each company that has been registered in India by the Registrar of Companies (ROC). The CIN must be included by all the companies on all Ministry of Corporate Affairs (MCA) papers, notably audits and reports.

All One Person Companies, Private Limited Companies, Not-for-Profit Section 8 Companies, Limited Companies, and Producer Companies registered in India are given a Corporate Identification Number (CIN).

Format of Corporate Identification Number (CIN) and Meaning 

The 21-digit CIN has a special meaning and purpose for each and every company. It is easy to translate and can be used for finding out basic information about a company. For example, L01631KA2010PTC096843 is a special CIN issued by the ROC.

Whether a company is "Listed" or "Unlisted" on the Indian stock market is indicated by the first character of the CIN. The following group of five numerical digits classifies a company's economic activity or the industry to which it belongs. The Indian state where the company is registered is indicated by the 7th and 8th letters. The company's incorporation year is represented by the digits from 9th to 12th positions. The ownership type of the company is denoted by the next three characters after the year of establishment. The remaining six digits specify the registration number for the company issued by ROC.

How to Get a CIN for Your Company

Upon incorporation and approval by the ROC - Registrar of Companies, the Corporate Identity Number (CIN) is automatically assigned. Consequently, there is no need to request a CIN number.

A government agency known as the Registrar of Companies (ROC) is in charge of incorporating or registering businesses. It is located in all of the different Indian States and Union Territories.

The Registrar of Companies' primary goal is to make sure that all Indian companies adhere to the law. Other ROC objectives are as follows:

  • Name changes for companies
  • Countermeasures against default companies
  • Converting private companies to public

Where do You Need to Mention CIN

According to section 12(3)(c) of the Companies Act 2013, all companies with an Indian address are required to include its Corporate Identification Number on official documents. These include invoices, bills, notices, annual reports, audits, receipts, memos, letterheads, company's official publications, and every e-form submission on the MCA site.

Is there Any Penalty for Not Mentioning CIN

If the aforementioned clause of the Companies Act is not met, the defaulting company and each of its officers are subject to a penalty of INR 1,000 per day for as long as the default lasts. The maximum fine for this default, however, is only INR 1,00,000.

Where can You Find Your Company’s Corporate Identity Number

CIN of a company can be found using the MCA 21 portal's search function depending on the following criterion:

  • Registration number for ROC
  • Existing business name
  • Old company name (the user must provide the old name if the company's name changes). The system will then show the appropriate current name of the business).
  • CIN inactive (In case there is a change in the CIN, the user is required to enter the previous inactive CIN).

Is a CIN Assigned to LLPs

The Registrar of Companies assigns a CIN to a registered business and an LLPIN (LLP Identification Number) to a limited liability partnership (LLP). Therefore, LLPs are not eligible for a CIN; only businesses registered under the 2013 Companies Act are eligible.

Are GSTIN and CIN the Same Thing

The Registrar of Companies assigns each registered company a unique identification number (CIN) at the time the business registration certificate is issued. The identifying number given to organisations and businesses that are GST-registered, on the other hand, is called a GSTIN. Consequently, both are unique and serve distinct purposes.

Under What Circumstances can a Corporate Identity Number be Changed

Every registered company is given a CIN for identification purposes, and it can be changed in some circumstances, such as:

  • Changes to a company's listing status
  • Any alteration to the place or state where the business' registered office is located
  • Any modification to the sector or industry to which a company belongs

Reach out to the Experts at Online Legal India

Getting a Corporate Identification Number (CIN) can be a very simple and inexpensive process. Experience the best legal advisors available with Online Legal India’s expertise in company incorporation.

 


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