The attestation of a Company Secretary (CS) on a certificate or any such document is of immense value since it usually signifies that the CS, in his professional opinion, has ensured that there is no misrepresentation by the entity issuing/submitting such a document.
It was being observed that certain unscrupulous individuals were forging signatures while posing as CS to issue certificates and other such documents with the intent of misleading the authorities. In view of the above, ICSI has developed a method of securing the documents issued by a respective professional by issuing a Unique Document Identification Number (UDIN). The core intention of UDIN is to ensure that ultimately end user and Stakeholders are not cheated by some non-professional and stakeholders can verify the authenticity of the signature.
Objective of UDIN
The objective of Guidelines:
- Enable the stakeholders to verify the authenticity of various documents certified by Company Secretaries in Practice;
- Prevent counterfeiting of various attestations / certifications;
- Provide ease of maintaining the Register of Attestation / Certification services rendered by practicing members;
- Ensure compliance of the Guidelines issued by the Institute w.r.t ceilings on the number of the various certification / attestation services that may be rendered by the practitioners;
- Auto-prefill details of Certification / Attestation services rendered by practicing members in of the form for renewal of Certificate of Practic
Applicability of the Guideline:
UDIN shall be generated for the following services rendered by PCS:
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MGT-8 |
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Secretarial Audit Report |
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Secretarial Audit Report to Material Unlisted Subsidiary Companies |
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Annual Secretarial Compliance Report |
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Non-Disqualification of Directors certificate by PCS |
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Transfer Certificate under SEBI LODR by PCS |
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Internal Audit Report of DPs |
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Reconciliation of Share Capital Audit |
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Compliance Auditor (for State of Haryana) |
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Due Diligence Report in case of Consortium |
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Internal Audit Report of Sub Broker, Stock Brokers etc |
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Certificate by CS to be submitted along with FCGPR. |
* RBI has issued a revised Regulation and it is expected to be updated in guideline soon.
In addition to the above services, The Practicing Company Secretary (PCS) may generate the UDIN for any other eForm and document(s) on voluntary basis.
Important points to note
- Only PCS can generate UDIN. Means a Person in employment signing any document, form cannot generate UDIN.
- Only Member certifying the document may Generate UDIN. Means it is not applicable at firm level but at Individual level.
- Name of recipient of the professional service, CIN /LLPIN / PAN No. of client (as the case may be) shall be disclosed at the time of generation of UDIN.
- UDIN once generated but not utilized may be surrendered/ cancelled by the PCS within 7 days of such generation.
- No documents need to be attached at the time of generation of UDIN.
- Quoting of UDIN generated for the above-mentioned services is mandatory w.e.f. October 1, 2019.
Source: ICSI UDIN
Disclaimer:
This material and the information contained herein are prepared by JMJA & Associates LLP, ractising Company Secretaries (JMJA) is intended to provide general information on a particular subject or subjects and is not an exhaustive treatment of such subject(s). None of JMJA, its associate firms, or its members/employees is, by means of this material, rendering professional advice or services. The information is not intended to be relied upon as the sole basis for any decision which may affect you or your business. Before making any decision or taking any action that might affect your personal finances or business, you should consult a qualified professional adviser. JMJA shall not be responsible for any loss whatsoever sustained by any person who relies on this material.
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