Cuttack ROC penalty order for violation of Section 92 & 137 of CA 2013 in the matter of KKDIL Nidhi Limited (Order dated 23rd March 2022)

✒️ On the basis of Supplementary Inspcction Report under Section 206(5) of the CA, 2013 the Directorate directed ROC to take action under Section 92(5) and 137(3) of the Act for violation of Section 92(4) and 137(1) of the Act. Accordingly, ROC initiated Adjudication proceedings.

✒️ ROC order -. The offence is of serious nature since non-filing of Annual Accounts by the Company put itself out of reach of stakeholders/regulatory authorities and other concerned. The object of filing of Annual Return of company with the Public Domain is in the public interest, to enable the investors, public and whosoever interested in the company can access the fundamental information about the company and its management. Non-filing of this statutory return will result in denial of information to public about the company

✒️ The object of filing Financial Statements of a company with MCA Portal is to enable the interested public/investors/statutory agencies to access and know about the company’s state of affairs. The financial statements of a company so filed shall give a be and fair view of the state of affairs of the company. The said statements will become documents of public domain and the interested public can access the said statcments through MCA website to know the financial state of affairs of the company as on that date.

✒️ Total Penalty imposed: Rs. 32,42,600/-

Bipul Kumar