When starting a new business, one of the first and foremost responsibilities of any businessman is to register their company and get a Corporate Identification Number or Corporate Identity Number (CIN).
What is a Corporate Identification Number (CIN)?
A CIN or Corporate Identification Number is a unique 21-digit alphanumeric number provided to all Private Limited Company, Section 8 Company, Public Limited Company, One Person Company, Producer Company, and Nidhi Company registered in India. It is used to track all aspects of any company. The Registrar of Companies (ROC) of each State under the Ministry of Corporate Affairs (MCA) issues the Corporate Identification Number.
Why is CIN important?
It helps in finding the basic information about a company. Every digit of the 21-digit alphanumeric code translates to company-related information. The Corporate Identification Number can also be used to find out more about a company using government agencies such as the MCA portal.
Understanding the format
How do you get a CIN?
The Corporate Identification Number is allotted automatically once the company is incorporated and approved by the ROC – Registrar of Companies for the particular State. Hence, there is no procedure to separately apply for the CIN.
Understanding Registrar of Companies
The Registrar of Companies or ROC is a government institute whose chief function is to incorporate or register companies. Every Indian State and Union Territory has its own Registrar of Companies that registers the company in that State or Territory.
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
