MCA Imposes 3 Lakhs Penalty on Company and Officers for Default in Registered Office Maintenance [Read Order]

The chennai bench of the Ministry of Corporate Affairs ( MCA ) imposed 3 Lakhs penalty on Step Inprops Pvt Ltd and officers for Default in registered office Maintenance

Whereas this Adjudicating Authority has received a reference through RBI on Investment schemes promising exorbitant returns floated by LC ECHO, an unincorporated body started by Shri. Karthikeyan who is also promoter in M/s. Step inprops Private Limited.

Further, the RBI requested this office to take necessary action in this matter. Upon receipt of the complaint from RBI, the matter has been taken up with the subject company and its directors vide letter dated 24.08. 2023. The letters sent to the company have been returned with postal remarks “Addressee Left without instructions”. After that this office has issued an Adjudication Notice to the company and its directors.

The MCA bench of B. Sreekumar ( Adjudicating officer ) concluded that the company and its officers in default are liable for penalty as prescribed under Section 12(8) of the Act for non-maintenance of the registered office of the company viz. M/s Step Inprops Private Limited for 155 days i.e. with effect from the date of 12/2023 dated 03.10.2023 to 29.02.2024 in terms of Section12 (1) of the companies Act.

Hereby impose a penalty of Rs.1, 00,000/- (Rupees One lakh) to Company and Rs.1, 00,000/- (Rupees One lakh) to each of the directors. Totally Rs. 3, 00,000/- (Rupees Three Lakhs) as penalty amount.

Further, in exercise of Section 454 (3) (b) of the Companies Act, 2013 the subject company is directed to rectify the default by maintaining the registered office of the company at the registered address as required under Section 12 of the Companies Act, 2013 and also to submit the proofs of maintenance of the registered office including photos/rental agreement and other necessary documents to this office within 15 days from the date of receipt of this order

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