The adjudicating authority reached a strong conclusion that the company violated Section 203(1) of the Companies Act and was liable for a penalty under Section 203(5) of the Act.
In the adjudication order passed by the Ministry of Corporate Affairs (MCA) Registrar of Companies under Section 454 of the Companies Act, 2013, a total penalty of up to Rs. 8.92 lakh was imposed on a private limited company and its two directors for violating Section 203 of the Companies Act, 2013. The company named…
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