The authority examined non-filing of charge registration for vehicle loans. It held that registration under company law is mandatory, attracting personal penalties on directors for default.
The order holds that failure to disclose mandatory allottee particulars violates securities allotment rules. Rejection of a regulatory form does not bar imposition of penalty under the Companies Act.
Regulatory correspondence returned undelivered led to action under registered office compliance rules. The ruling underscores that companies must maintain a functional address to receive statutory communications.
The issue was whether the Assessing Officer could invoke section 68 in a limited scrutiny case focused on share premium under section 56(2)(viib). The Tribunal held that, without mandatory approval to expand scrutiny, the addition was legally unsustainable.
The authority held that failure to disclose related party contracts and justifications in the Board’s Report violates statutory transparency norms. A personal monetary penalty was imposed on the responsible director.
The issue was whether interim protection lapses if a Section 11 petition is filed beyond 90 days. The Supreme Court held that arbitration commences on receipt of notice under Section 21, preserving interim relief under Section 9(2).
Non-compliance with mandatory board composition norms led to heavy penalties. Both the company and the officer were held liable under company law.
The Registrar found that statutory notices and court decrees were returned undelivered, proving non-maintenance of the registered office. The key takeaway is that companies and directors face the maximum penalty for such defaults.
A delay of 13 days in filing Form MGT-15 attracted penalties on both the company and key managerial personnel. The key takeaway is strict enforcement of AGM compliance timelines.
The Registrar held that failure to disclose the risk management policy in the Board’s Report violated statutory reporting obligations. The key takeaway is that directors remain personally liable even after company strike-off.
