Corporate Identification Number or CIN number is a unique 21-digit code that proves useful in tracking details of registered companies in India. Other than these, there are several ways in which CIN proves useful for businesses and potential stockholders. To understand its implications and role in general, one must become familiar with its basics in detail.
This digit alpha-numeric code is assigned by the Registrar of Companies (RoC) under the Ministry of Corporate Affairs or MCA. It helps to identify companies which are regulated by each state under the MCA and the Government of India. It also helps to track vital activities of a company right from the initial stages of registration with the RoC.
Typically, CIN number is provided to several types of companies including -
This code helps to identify a company and further permits to track and understand other vital details.
Corporate Identification Number provides vital information about the registration of a company. The prominent components of the CIN number are as follows –
L 85110 WB 2012 GOI 221989
Code |
Description |
L |
Listed |
85110 |
Industry Code |
WB |
Registered Stage |
2012 |
Year of Incorporation |
GOI |
Company’s Classification |
221989 |
Company’s registration number |
According to Section 12(3) of the Companies Act, a company is required to mention its CIN on some vital documents. A few of such documents are as follows -
In case a company fails to mention its CIN on these above mentioned documents or other vital papers, the company, along with its defaulting officers, will attract a penalty. The penalty will be of Rs. 1000 per day until the detail is incorporated. Nonetheless, the penalty for such a default can be up to Rs. 100000.
These pointers emphasise on the use of CIN -
At KredX, you can raise funds by discounting your unpaid invoices at attractive terms of services. All you need to do is upload the outstanding invoices at our portal and furnish required documents including CIN number to initiate basic formalities.
Section 7(3) of the Companies Act, 2013, states that either on the date mentioned in the certificate of incorporation or immediately after it, the Registrar shall assign a CIN to a company. It will serve as its identification number and will also be mentioned in the certificate.
A company can avail a Corporate Identification Number by simply visiting MCA’s official website. Once the application form is filled, and all essential documents are deposited, the applicant will be required to pay for the CIN number. Subsequently, after the payment is met, the application will be reviewed and then approved from MCA.
Here are some factors that prompt change in the CIN -
One can easily track a company’s CIN number by following these simple steps -
Step 1 - Go to the Ministry of Corporate Affairs’ official portal.
Step 2 - Navigate to ‘MCA Services’.
Step 3 - Select the ‘Find CIN’ option.
Step 4 - On being redirected, choose the type of company based on any these details to find its CIN -
Once these steps are completed, you will be asked to enter a CAPTCHA code. Subsequently, you will have to click on the ‘Search’ button to prompt results.
Like discussed, the role of CIN number is also essential for raising substantial funds to meet working capital requirements. By furnishing required details like CIN number, KYC and proof of turnover among others you can raise funds and keep your operations uninterrupted.
One of the most effective ways to raise funds for a company is through invoice discounting services.
KredX is India’s leading integrated cash flow solution provider! Get in touch with us now to learn more about our services in detail.