The order of adjudication passed by the Ministry of Corporate Affairs ( MCA ) Registrar of Companies, under Section 454 of the Companies Act, 2013 has imposed a penalty on a private limited company and its directors for not filing annual returns since the incorporation of the company.
This private company has been registered under the Companies Act, 2013, and the authorised capital of the company is Rs. 10 lakhs. It is to be noted that this is a non-governmental company and comes under the category of limited by shares.
In this case, complaints from the Reserve Bank of India ( RBI ) were received that this company has not filed its annual returns since incorporation, which it was actually supposed to file by virtue of Section 92(4) of the Companies Act. The adjudicating authority reached the conclusion that the company was liable for penal action as per Section 92( 5 ) of the Companies Act, 2013.
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Section 92(4) of the Comapnies Act states that ” if any company fails to file its annual return under sub-section (4), before the expiry of the period specified therein, such company and its
every officer who is in default shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with further penalty of one hundred rupees for each day during which such failure 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.”
Due to the company and its officials’ failure to reply to show cause notices via email, an e-hearing was planned for December 17, 2024, at 12:00 PM to provide an opportunity for a hearing. Thus, the penalty was imposed on both the company and its directors for not filing the annual returns, and the penalty imposed has been clearly given in the order in the table.
This order was issued by Sitaram, Registrar of Companies & Adjudicating Officer, Chhattisgarh.
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