Gujarat ROC penalty order for non certification of MGT- 7 by Practising Company Secretary in the matter of Mr. Parag Sheth, Liquidator of M/s Maxroth Impex Pvt. Ltd. (Order dated 17th Jan 2022)

As per Section 92 (1) Every company  shall prepare a return (hereinafter referred to as the annual return) in the prescribed form containing the particulars as they stood on the close of the financial year  regarding—………signed by a director and the company secretary, or where there is no company secretary, by a  company secretary in practice.

Section 450. Punishment where no specific penalty or punishment is provided

If a company or any officer of a company or any other person contravenes any of the provisions of this Act or the rules made thereunder, or any condition, limitation or restriction subject to which any approval, sanction, consent, confirmation, recognition, direction or exemption in relation to any matter has been accorded, given or granted, and for which no penalty or punishment is provided elsewhere in this Act, the company and every officer of the company who is in default or such other person shall be liable to a penalty of ten thousand rupees, and in case of continuing contravention, with a further penalty of one thousand rupees for each day after the first during which the contravention continues, subject to a maximum of two lakh rupees in case of a company and fifty thousand rupees in case of an officer who is in default or any other person.

Delhi ROC order for violation of Section 92 (4) & 137(3) of CA, 2013 imposing no penalty by applying amended provisions of Section 454(3) in the case of Central Cottage Industry Corporation of India Ltd. Order dated-13th Jan 2022

Applying amended Proviso of section 454(3) of C A, 2013 w.e.f.dated 22 Jan 2021 imposing no penalty

Reference of Proviso of section 454(3) of C A, 2013

Provided that in case the default relates to non-compliance of sub-section (4) of section 92 or sub-section (1) or sub-section (2) of section 137 and such default has been rectified either prior to, or within thirty days of, the issue of the notice by the adjudicating officer, no penalty shall be imposed in this regard and all proceedings under this section in respect of such default shall be deemed to be concluded.

Higher addition fee upto 18 times on Certain MCA e Forms (MCA Notification dated 11th Jan 2022)

Please note 👉

Above Notification shall not be applicable on section 92(Annual return- Form MGT 7/7A), Section 137 (Form AOC 4). Additional fee Rs. 100/- per day will be applicable without any upper limit

Higher additional fees shall be applicable, if there is delay in filing eform 22 or e form PAS 3, as the case may be, on two or more occasions, within a period of 365 days from date of filing of last such belated eform for which additional fee or higher additional fee, as the case may be, was payable.

Wherever Higher additional fee is payable, additional fee shall not be charged.

Bangalore ROC passed penalty order for violation of Section 117(1) failure to file MGT 14 beyond 300 days by applying lesson penalty pursuant to amended section 446B of CA 2013

Learning points:

-What to do if MGT 14 is not filed within 300 days ?

-How to apply lessor penalty provision as amended section 446B of CA 2013 on Small Company

Please also share your practical experiences in dealing such type of adjudication process.

Gujarat ROC Penalty order for non maintaining of Registered office (Section 12(1) violation) passed on dated 28th Dec 2021 in the matter of Tunwale E Vehicle India Pvt. Ltd.

Published on 10th Jan 2022

Penalty imposed as per Section 12 (8)- If any default is made in complying with the requirements of this section, the company and every officer who is in default shall be liable to a penalty of one thousand rupees for every day during which the default continues but not exceeding one lakh rupees.

Section violated: 👉 Section 12 (1) A company shall, [within thirty days of its incorporation] and at all times thereafter, have a registered office capable of receiving and acknowledging all communications and notices as may be addressed to it.

Section 12 (4) Notice of every change of the situation of the registered office, verified in the manner prescribed, after the date of incorporation of the company, shall be given to the Registrar [within thirty days] of the change, who shall record the same.

कारपोरेट कार्य मंत्रालय (MCA) और फाइनेंशियल इंटेलिजेंस यूनिट-इंडिया (MOF) के बीच डाटा के आदान प्रदान के लिए MOU Press release-15th Dec 2021

एमओयू से स्वचालित और नियमित आधार पर एमसीए और एफआईयू-इंडिया के बीच डाटा और सूचना साझा करना सुनिश्चित होगा। इससे संदिग्ध लेनदेनों से संबंधित सूचना, केवाईसी से जुड़ी जानकारियां और देश में पंजीकृत कंपनियों के समेकित वित्तीय नतीजों जैसी विशेष जानकारियां साझा हो सकेंगी। एमओयू से एमसीए और एफआईयू-इंडिया दोनों के बीच नियामकीय उद्देश्यों से एक निर्बाध लिंकेज सुनिश्चित होगा। डाटा के नियमित आदान प्रदान के अलावा, एमसीए और एफआईयू-इंडिया अनुरोध पर अपने संबंधित डाटाबेस में उपलब्ध किसी भी सूचना का आदान प्रदान करेंगे। इसका उद्देश्य छानबीन, निरीक्षण, जांच और अभियोग होगा।