Objects benefiting specific communities or allowing overseas application of funds invite rejection. The ruling focus is on deed language, not intent.
The order clarifies that filing an incorrect statutory e-form attracts penalties even if the mistake is later admitted and rectified. Administrative correction does not erase the original contravention under the Companies Act.
The adjudication confirms that incorrect classification of promoter and public shareholding in statutory filings attracts penalties. Even inadvertent errors in Form MGT-7 trigger liability under the Companies Act.
The adjudicating authority ruled that filing statutory e-forms with incorrect particulars constitutes a completed violation. Subsequent requests to mark forms defective do not erase penalty liability.
An incorrect AGM date disclosed in an annual return led to penal action. The ruling clarifies that accuracy in statutory disclosures is mandatory and strictly enforced.
The adjudicating authority held that non-disclosure of auditor-reported non-compliances violates statutory reporting duties. Monetary penalties were imposed on both the company and defaulting directors.
Failure to explain auditor-noted violations of Nidhi Rules resulted in penalties on the company and directors. The order reinforces strict disclosure duties under company law.
The order confirms that filing incorrect financial statements triggers penalties even if errors are later admitted and rectified. Post-filing administrative correction does not erase liability under the Companies Act.
The Centre has amended rules governing part-time appointments to the national financial reporting regulator. The move updates the list of senior officials nominated from key oversight institutions.
The Tribunal examined whether a single, consolidated satisfaction note for multiple assessment years meets the requirement of Section 153C. It held that such consolidated recording vitiates jurisdiction, rendering the search assessments void.
