Generation of UDIN by PCS
Generation of UDIN by PCS
For strengthening the practicing side of the Company Secretaries the ICSI has now initiated to use of the UDIN for attestation and certification of service documents by all company secretaries. The UDIN is the Unique Document Identification Number. The rules governing has been added vide terms of Clause(I), Part 2 of the second schedule of the Companies Secretaries (Amendment)Act, 2006 where ICSI council has accumulated the provisions for the use of applied UDIN by the Company Secretaries for verifying and attesting the documents each time while imparting their services in practice.
What is UDIN for PCS (Practising Company Secretary)?
UDIN is an automated Unique Document Identification Number generated in the composition of the first 2 digits representing the current year (year of attestation) next 6 digits being the membership number of ICAI/ICSI registered person confirming the authenticity of the documents and a randomly generated alphanumeric 10- digit number.
UDIN ensures counterfeiting of multiple attestations/certifications.
Enables the shareholders/Stakeholders to authenticate documents to be verified by the company secretaries.
Ensure easy compliance of guidelines on mandatory attestation and also maintain the register of services that are rendered by the practicing members.
Also, enable auto-filling of the details of the registered CS members in practice each time the verification or attestation is initiated.
Ensure easy compliance of guidelines on mandatory attestation and maintenance of registers of services rendered by members in practice.
Application of UDIN
The UDIN is applicable in all cases except for some e-forms and certified documents. The practicing CS has to mandatorily apply for attestation in case of:
- Annual returns Certification (Section 92 (2) )
- Issuing Secretarial Audit Report (Section 204)
- Issuance of Secretarial Audit Report to the material the unlisted subsidiaries of the listed companies as per SEBI.
- Certifications that are required under SEBI listing and disclosure regulations.
- Conducting an internal audit of the operations that are understated as per the laws of NSDL or CDSL, audit of stockbrokers, sub-brokers under SEBI.
- The certification is required under regulation 76 of SEBI regulations for the reconciliation of Share Capital Audit.
- Certifications that are required while serving as a compliance auditor under any third-party certification or audit scheme.
- Certifications are required in the case of Indian Companies accepting foreign investment or any related matter.
- Other than the above cases, the application of UDIN should be completely on the voluntary preference of CS in practice, if required in attestation of any other e-Form or document not specified above.
Application of UDIN by Company Secretaries
No special document or approval from any authority for the application of UDIN by CS. While it can be applied with the following steps:
- Locate to the official UDIN portal for Company Secretaries
- Register and log in providing the membership credentials and the required particulars
- The system will then generate a random 18 digit number to be used as UDIN in attestation or verification of documents.
The practicing company secretary may generate the UDIN for any document which is not listed above and not mandatory. The UDIN generated for all the e-forms is valid only for seven days from the effective date of UDIN this also includes the form MGT-7. The same can be digitally signed by the PCS during the seven days.