MCA imposes Rs. 12.80 Lakh Ex-Parte Penalty on Company and Directors for Non-Appointment of CFO

Non appointment of CFO resulted in a hefty penalty imposition of Rs.12.80 Lakhs by MCA on Company and Directors
MCA - CFO - Penalty - Non-Appointment - Directors - TAXSCAN

In a significant development, Sylph Technologies Limited and its directors have been served a penalty of Rs. 12.80 lakh imposed by the Ministry of Corporate Affairs (MCA) for the failure to appoint a Chief Financial Officer (CFO). This penalty, sanctioned by the Adjudicating Officer of the Registrar of Companies, Madhya Pradesh, Gwalior, underscores the importance…

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