DETAILS OF PENALTIES IMPOSED BY ROC FOR NOT COMPLYING THE PROVISIONS OF THE COMPANIES ACT,2013

DETAILS OF PENALTIES IMPOSED BY ROC FOR

 NOT COMPLYING THE PROVISIONS OF THE

 COMPANIES ACT,2013

Compliances of Companies Act 2013 are pivotal to

 a corporate. This article tries to highlight how

 company has to pay hefty penalty for violations of

 simple defaults .

• ·       Failure to appoint company secretary
• ·       Failure to report Related party Transactions
• ·       Violation of MOA Objects – Companies Act Section 10(1)
• ·       Failed to maintain the register of Directors and Key Managerial Personnel (KMP) as mandated by Section 170 of the Companies Act, 2013
• ·       Violation in Private Placement of Shares
• ·       Individuals who already possess a DIN from applying for or obtaining another DIN.

1. ·       Notice of AGM not specified number of Board Meetings

• ·       Penalty for Omitting Email and Phone on Company Letterhead
• ·       Board Meeting Attendance Sheet not serially numbered
• ·       CSR Unspent Amount Transfer Delay

Failure to appoint company secretary   ROC,JAIPUR

Penal action under Section 203(5) of the Companies Act, 2013.

·       Prism Buildcon Private Limited: Rs. 5,00,000/- ·       Shripal Choudhari (Additional Director): Rs. 5,00,000/- Mahipal Choudhari (Director): Rs. 5,00,000/- ·       Ambika Prasad Ramdhari Maurya (ex-Director): Rs. 1,73,000/- ·       Ayushman Barua (ex-Director/ex-Additional Director): Rs. 5,00,000/- The total penalty amounted to Rs. 21,73,000/-.

 

ROC, Gujarat SUNPHARMACEUTICAL INDUSTRIES LIMITED

M/s Deloitte Haskins & Sells LLP

MCA imposes penalty on CA Firm for failure to report Related party Transactions

 

ROC, Rajasthan Gems Export Private Limited and its directors

Financial Year 2015-16 & 2016-17, Fine Gems Export Private Limited intended to engage in real estate activities. Due to circumstances, the company could not carry out the intended activities

MCA Imposes Penalty: Violation of MOA Objects – Companies Act Section 10(1)

 

Registrar of Companies , Chennai

M/s Hermes I Tickets Pvt. Ltd. 6,00,000/- (Rupees Six Lakhs) as penalty on company and its directors

M/s Hermes I Tickets Pvt. Ltd. failed to maintain the register of Directors and Key Managerial Personnel (KMP) as mandated by Section 170 of the Companies Act, 2013

 

Planify Capital Limited, a company engaged in fundraising for start-ups.

Despite regulatory restrictions, the company facilitated the sale of shares to investors through its platform, violating Section 42 of the Companies Act, 2013.

MCA New Delhi imposes Penalty of Rs. 7 Crore for Violation in Private Placement of Shares of Rs. 1 Crore

 

Section 155 of the Companies Act, 2013 prohibits individuals who already possess a DIN from applying for or obtaining another DIN. Despite this, Smt. Shashi Singla applied for and obtained a second DIN, DIN 10008811, on 1st July 2022, while still holding her original DIN.

Smt. Shashi Singla was fined Rs. 50,000 for the initial default. An additional penalty was levied for the 729 days of delay (at Rs. 500 per day), totaling Rs. 3,64,500. The total penalty imposed amounted to Rs. 4,14,500

MCA Punjab & Chandrigarh   Smt. Shashi Singla of her right to appeal within 60 days. Failure to pay the imposed penalty within 90 days may lead to further fines or even imprisonment under Section 454(8) of the Companies Act, 2013.

 

MCA , NEW DELHI Notice of AGM not specified number of Board Meetings – MCA Imposes Penalty

Ministry of Corporate Affairs has issued an order imposing penalties for violations of Section 118 of the Companies Act, 2013. This order concerns Darvi Life Styles International Limited and its non-compliance with Secretarial Standards in relation to board meetings during the financial years 2016-17 and 2017-18.

Penalty of Rs 80,400 on the company and its directors. Since the subject company fulfill the requirements of a small company as define u/s 2(85) of the Act. Thus, the penalty on the subject company would be governed by Section 446B of the Act.

 

MCA imposes Penalty for Omitting Email and Phone on Company Letterhead   REGISTRAR OF COMPANIES CUM OFFICIAL LIQUIDATOR, CHHATTISGARH

The omission of contact information led to penalties being imposed under section 12(8) of the Act.

The penalty amounted to Rs. 28,000 per day of default, not exceeding Rs. 1,00,000. The company, as well as the directors, Satija Nikish and Akshat Goyal, were deemed liable for the penalty.

 

Board Meeting Attendance Sheet not serially numbered: MCA  MadyaPradesh imposes Penalty

The Ministry of Corporate Affairs (MCA) recently issued penalties against M/s PEOPLES INTERNATIONAL & SERVICES PRIVATE LIMITED and its officers for violations regarding the serial numbering and authentication of board meeting attendance sheets

A penalty of Rs 45000 was imposed on company and its directors.

 

CSR Unspent Amount Transfer Delay: MCA- ROC Karnataka - Imposes Rs. 1.08 Crore Penalty

CSR Unspent Amount Transfer Delay: MCA Imposes Rs. 1.08 Crore Penalty

The penalty is 7imposed on Quest Global Engineering Services Private Limited for the violation of provisions of Section 135 of the Companies Act, 2013.

 

The above cases remind us how compliance is important to a corporate.

R V SECKAR PRACTICING COMPANY

 SECRETARY 79047 19295