Question

Justify the following statement.

Every Company on incorporation gets a CIN

Answer 1

CIN Is the Corporate Identity Number of a company. CIN shows whether a company is a listed company or unlisted company, industry code number, state of its location, year of incorporation, type of company, and registration number given by ROC. So, CIN becomes the company’s unique identity number. Every incorporated company is required to quote CIN in every form and correspondence required in the course of business. CIN number is also required to obtain various permission from different authorities. So without CIN number, the running of a business is not possible.