MCA imposes Penalty on Private Limited Company and directors for Over Non-Filing of MGT [Read Order]

In the recent order of adjudication passed by the Ministry of Corporate Affairs ( MCA ) Registrar of Companies, a penalty of Rs. 4 lakhs was imposed on a private limited company and its directors over the non-filing of E-form MGT-14.

This private company has been registered under the Companies Act, 2013, and the authorised capital of the company is Rs. 20 lakhs.

During the inquiry, it was found that the company has not filed an e-form MGT-14 for the year ending 31-03-2015 to 31-03-2021 for the approval of accounts. Thus the adjudicating officer reached the conclusion that the company and its directors have not complied with the provisions of Section 117 of the Companies Act, 2013.

Transform GST Learning: Master Sections Faster with Memory Power- Click here to know more

It is to be noted that the company has not replied within the prescribed time limit of 15 days to the show cause notice, and thus no hearing was fixed on this matter. It was observed that neither the company nor its directors or their representatives furnished a reply to the SCN, it was evident that the company is not maintaining its registered office. The penalty imposed has been clearly given in the table in the order.

This order was issued by Seema Rath, Registrar of Companies & Adjudicating Officer

Uttar Pradesh, Kanpur. In this order, the penalty was imposed on both the company and its 4 directors, totalling to Rs. 4 lakhs.

The order also contained that the notice must pay the penalty individually via e-payment on the MCA website under "Pay Miscellaneous Fees" within 90 days, and an appeal can be filed with the Regional Director (Northern Region), Ministry of Corporate Affairs, within 60 days using Form ADJ, along with a certified copy of this order.

To Read the full text of the Order CLICK HERE

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates