Failure to Address Auditor’s Remarks in Director’s Report: MCA imposes Rs. 4.5 Lakhs Penalty on Company and Directors [Read Order]
The directors failed to provide sufficient explanations for this non-compliance in their report, and this omission has led to the violation of Section 134(3)(f) of the Companies Act, 2013.
In the adjudication passed by the Ministry of Corporate Affairs (MCA) Registrar of Companies under Section 454 of the Companies Act, 2013, a total penalty of Rs. 4.5 lakhs was imposed on a company and its directors for failing to address the auditor’s remarks in board reports. The company named Unionbase Nidhi Nidhi Limited was…
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