Home Companies Act ROC imposes penalty of Rs. 21,00,000 for Non-Appointment of CS

ROC imposes penalty of Rs. 21,00,000 for Non-Appointment of CS

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ROC imposes penalty of Rs. 21,00,000 for Non-Appointment of CS

ROC imposes penalty of Rs. 21,00,000 for Non-Appointment of CS

The Registrar of Firms (ROC) within the matter of FIRST DATA (INDIA) PRIVATE LIMITED has imposed penalty of Rs. 21,00,000 for Non-Appointment of CS.

The Firm FIRST DATA (INDIA) PRIVATE LIMITED [herein after known as Company] is registered with this workplace below the provisions of Firms Act, 1956 having its registered tackle at 74, Kalpataru Sq., Off Andheri Kurla Highway, Kondivita Lane, Andheri (East), Mumbai Metropolis, Mumbai, Maharashtra, 400 059, India as per the MCA portal.

Reality About Case:

The Firm has filed suo-moto software for adjudication of violation of the provisions of Part 203 of the Firms Act, 2013 learn with Rule 8A of Firms (Appointment of Firm Secretary) on 04.05.2020, because of the issue find an acceptable candidate which led to delay of 66 months and 10 days.

The representatives of the Firm said that the corporate was required to nominate Entire time Firm Secretary w.e.f. 24.10.2014. Nevertheless, the Firm appointed the Entire¬≠time Firm Secretary on 04.05.2020 solely. Therefore, there’s a violation of provisions of Part 383A of Firms Act, 1956 and Part 203 of the Firms Act, 2013.

Delay in submitting up the informal emptiness within the workplace of entire time key managerial personnel was prompted because of the issue find an acceptable candidate. Additional, the approved consultant submitted that there was no mens rea and default was dedicated on account of unavoidable circumstances, having no mala fide intention and the default is just not of such a nature as to prejudice the curiosity of members or collectors or others coping with the Applicant Firm. It was dedicated on account of unavoidable circumstances. Utility is being filed suo moto by the Applicant Firm and its officers in default to rectify the non-compliances pertaining to Part 203 of the Firms Act, 2013.

Nevertheless, the presenting officer referring to the Firms (Modification) Ordinance, 2019 dated 12.01.2019 which got here into impact from 02.11.2018 said that the interval of default from 24.10.2014 to 01.11.2018 is compoundable in nature, henceforth such interval shall not be made a part of adjudication and the identical must be compounded accordingly with the suitable authority u/s 441 of the Firms Act, 2013.

Order:

Having thought-about the info and circumstances of the together with representations made by the corporate, officers in default and the presenting officer, hereby impose penalty of Rs. 21 Lakh on the corporate and each director and key managerial personnel of the corporate who’s in default as per the desk beneath for violation of provisions of Part 203 of the Firms Act, 2013 for delay of 548 days.

Your consideration can also be invited to Part 454(8)(ii) of the Firms Act, 2013, the place an officer of an organization who’s in default doesn’t pay the penalty inside a interval of ninety days from the date of the receipt of the copy of the order, such officer shall be punishable with imprisonment which can prolong to 6 months or with fantastic which shall not be lower than twenty-five thousand rupees however which can prolong to 1 lakh rupees, or with each. Concerning penalties of non-payment of penalty throughout the prescribed time restrict of ninety days from the date of receipt of this order by way of the provisions of Part 454(8)(i) of the Firms Act, 2013, the place Firm doesn’t pay the penalty imposed by the adjudicating officer or the Regional Director inside a interval of ninety days from the date of the receipt of the copy or the order, the corporate shall be punishable with fantastic which shall not be lower than twenty-five thousand rupees however which can prolong to 5 lakh rupees.

For Official Order Obtain PDF Given Under:

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