Judicial Corner (10.11.2023)

Company Law:

  • The Registrar of Companies (Uttar Pradesh) has issued an order related to SONANCHAL MUDRA NIDHI LIMITED for non-compliance with Section 137 of the Companies Act, 2013 by not filing of the financial statement of the company statement for year ending 31.03.2019 thereby attracting the penal provisions mentioned under Section 137(3) of the Act.
  • The Ministry of Corporate Affairs has imposed penalties on Triveni Nidhi Limited and its directors for not mentioning DIN under Signature in Financial Statements. The penalty, amounting to Rs. 1,00,000/- (Rupees one Lakh only) per director, was imposed on the concerned individuals. Section 158 mandates companies to mention the DIN while furnishing returns or information related to directors. Failure to comply attracts penalties.
  • The Ministry of Corporate Affairs, under the Government of India, has recently imposed a substantial penalty on Hendrik Technology Private Limited for a violation of Section 134(3)(f) of the Companies Act, 2013. Section 134(3)(f) of the Companies Act, 2013, stipulates that statements presented in a company’s general meeting should include a report by its Board of Directors. This report must contain explanations or comments by the Board on any qualification, reservation, adverse remark, or disclaimer made by the auditor or the company secretary in their respective reports.
  • The Ministry of Corporate Affairs (MCA) has taken punitive action against Shri Ram Nidhi Limited for a delay in filing MGT-14, an essential requirement under section 117 of the Companies Act, 2013
  • The Ministry of Corporate Affairs has penalized Ramudraurban Bachat Nidhi Limited for violating Section 92 of the Companies Act, 2013. The company failed to comply with the provisions of Section 92(4) of the Act. The section mandates every company to file its annual return with the Registrar of Companies within sixty days from the date of the annual general meeting. The company’s non-compliance led to penal action under Section 92(5) of the Companies Act, 2013.


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