Home Companies Act Penalty of Rs. 40 Lakhs levied for Non-Filing MGT-07 and AOC-04

Penalty of Rs. 40 Lakhs levied for Non-Filing MGT-07 and AOC-04

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Penalty of Rs. 40 Lakhs levied for Non-Filing MGT-07 and AOC-04

Penalty of Rs. 40 Lakhs levied for Non-Submitting MGT-07 and AOC-04

The Ministry of Company Affairs (MCA) within the matter of DGR Farms and Leisures Restricted imposed a Penalty of Rs. 40 Lakhs for Non-Submitting MGT-07 and AOC-04.

The Firm DGR Farms and Leisures Restricted (CIN-U0l l 00MP2009PLC02254 7) [herein after known as company] is a registered firm with this workplace beneath the provisions of Corporations Act, 2013 having its registered workplace located at E-3, Senior MIG, Home No. 2, Close to Ganesh Mandir, Arera Colony, Huzur 462016, M.P. 6- Malviya Nagar, Close to IDBI Financial institution, Bhopal, Madhya Pradesh 462003, as per the MCA web site.

Whereas as per info out there on MCA21 knowledge base, the corporate has not filed its statutory doc i. e. Annual Return since 2019 to until date beneath Part 92(4) of the Corporations Act, 2013. Therefore, it seems that the corporate and its officers in defaults has violated the provisions of Part 92(4) of the Corporations Act, 2013 and are answerable for penal motion u/s. 92(5) of the Corporations Act, 2013 for the monetary 12 months 2018-19 to until date.

Thereafter, “Notices of Inquiry” vide No. ROC-G/Adj. Pen./u/s. 92(4)/DGR farms/3400 to 3408 dated 30.01.2024 had been issued to the corporate and its officers in default. As per [Rule 3(3), companies (Adjudication of Penalties) Rules, 2014 and the date of hearing was fixed on 09.02.2024 at 11.00 A.M. in the office of Registrar of Companies, Madhya Pradesh, Sanjay Complex, A-Block, 3rd Floor, Jayendraganj, Gwalior.

On the date of hearing 1.e. 09.02.2024, the office received an e-mail dated 09.02.204 from director Shri Umesh Gupta therein had requested to provide 15- 20 days more as the company has already started preparing necessary documents and forms related to Section 92(4) of the Companies Act, 2013.

Office has considered aforesaid requested and had sent mail dated 15.02.2024 to the company and officer in default, therein the office has extend the time for hearing and had fixed a dated for hearing on 26.02.2024 at 3.00 P.M.

Order:

Having considered the facts and circumstances of the case and after taking into account the factors above and letter dated 16.01.2024 and 30.01.2024 issued by ROC, Gwalior were duly received by the office of the company, it is concluded that the company and its officers in default are liable for penalty as prescribed under Section 92(5) of the Act for default is made in complying with the requirements of Section 92(4) of the Act of the company viz. DGR Farms and Leisures Limited for financial year 2018-19 to 2021-22, in terms of Section 92(4) of the Act.

Accordingly, a penalty Rs.40 Lakhs was imposed as prescribed under Sub-section 5 of section 92 of the Companies Act, 2013.

The opinion is that the penalty is commensurate with the aforesaid failure committed by the notice and the penalty so imposed upon the officers-in-default shall be paid from their personal sources/income. It is further directed that the penalty imposed shall be paid through the Ministry of Corporate Affairs portal only as mentioned under Rule 3(14) of Company (Adjudication of Penalties) (Amendment) Rules, 2019 under intimation to this office for the financial year 2018-19 to 2021-22.

The penalty amount shall be remitted by the company through MCA21 portal within 60 days from the date of order. The company needs to file INC- 28 as per the provisions of the act attaching the copy of adjudication order alongwith payment challans.

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