The Registrar of Companies, Delhi issued an adjudication order imposing penalties under Section 454 of the Companies Act, 2013 for violation of Section 134(8) relating to non-disclosure in the Board Report. Inspection under Section 206(5) revealed that the title deed of a mortgaged property was not in the company’s name, yet this was not disclosed for FY 2017-18 and 2018-19. Although many noticees argued they were independent or non-executive directors not responsible for day-to-day management, the ROC held that the company’s Board failed to make mandatory disclosures. However, because punishment for such non-disclosure was decriminalised from 21.12.2020, violations for the relevant years could not be formally adjudicated, though the non-compliances were still noted. Penalties were imposed on the company and its officers, each officer being liable for ₹50,000 and the company for ₹3,00,000. Penalties must be paid within 90 days through the MCA portal, with appeals allowed before the Regional Director.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Delhi
Registrar Of Companies, 4th Floor, IFCI Tower, 61, Nehru Place, New Delhi, Delhi, India, 110019
Phone: 011-26235703,26235708
E-mail: roc.delhi@mca.gov.in
Order ID: PO/ADJ/12-2025/DL/01091 | Dated: 09/12/2025
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 134(8) OF THE COMPANIES ACT, 2013.
A. Appointment of Adjudicating Officer:
Ministry of Corporate Affairs vide its Gazette notification number S.O. 831(E) dated 24/03/2015 appointed undersigned as Adjudicating Officer in exercise of the powers conferred by section 454 of the Companies Act, 2013 [herein after known as Act] read with Companies (Adjudication of Penalties) Rules, 2014for adjudging penalties under the provisions of this Act.
B. Company details:
In the matter relating to SAMMAAN CAPITAL LIMITED [herein after known as Company] bearing CIN L65922DL2005PLC136029, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at A-34, 2ND & 3RD FLOOR, LAJPAT NAGAR-II A-34, 2ND & 3RD FLOOR, LAJPAT NAGAR-II LAJPAT NAGAR (SOUTH DELHI) NEW DELHI SOUTH DELHI DELHI INDIA 110024
Individual details:
In the matter relating to AMIT KUMAR JAIN_____________
In the matter relating to MUKESH KUMAR GARG _____________
In the matter relating to GAGAN BANGA _____________
In the matter relating to ACHUTHAN SIDDHARTH _____________
In the matter relating to SHAMSHER SINGH AHLAWAT _____________
In the matter relating to SAMEER GEHLAUT _____________
In the matter relating to KAMALESH CHANDRA CHAKRABARTY _____________
In the matter relating to SUBHASH SHEORATAN MUNDRA _____________
In the matter relating to PREM PRAKASH MIRDHA _____________
In the matter relating to LABH SINGH SITARA_____________
In the matter relating to SACHIN CHAUDHARY _____________
In the matter relating to AJIT KUMAR MITTAL_____________
In the matter relating to ASHWINI OMPRAKASH KUMAR_____________
In the matter relating to SATISH CHAND MATHUR _____________
In the matter relating to MANJARI ASHOK KACKER_____________
In the matter relating to BISHESHWAR PRASAD SINGH _____________
In the matter relating to DINABANDHU MOHAPATRA_____________
In the matter relating to GYAN SUDHA MISRA _____________
In the matter relating to BISHNU CHARAN PATNAIK _____________
In the matter relating to SHEFALI SHAH _____________
C. Provisions of the Act:
(8) If a company is in default in complying with the provisions of this section, the company shall be liable to a penalty of three lakh rupees and every officer of the company who is in default shall be liable to a penalty of fifty thousand rupees
D. Facts about the case:
1. Default committed by the officers in default/noticee – Inspection was conducted in the subject company u/s 206(5) of the Companies Act, 2013. Furthermore, on observations raised by Ministry, supplementary inspection was ordered, subsequently, on the basis of supplementary report submitted by Inspector, sanction to initiate penal action were received from O/o DGCoA vide letter dated 05.09.2023 followed Directorate letter dated 09.10.2023. on the basis observations raised in the supplementary inspection report following are the details of violations:
As the title deed of flat no. B-2002, Indiabulls Green Chennai is not in the name of the Company. This land has been mortgaged as security towards Secured Non-Convertible debentures issued by the Company. Therefore, instructions were received to initiate penal action as per section 134(8) of the Companies Act, 2013 for the year 2017-18, 2018-19.
2. No e-hearing was sought by the Company and other Noticees.
E. Order:
1. NOTE: this order is issued as corrigendum to order issued vide Order ID: PO/ADJ/06-2025/DL/00396 Dated: 05/06/2025
i. Pursuant to the findings of IO in the inspection report and the sanction received thereto to initiate penal action against the company and the officers-in-default, an e-SCN dated 24.04.2025 was issued to the company and its officers for noncompliance u/s 134 of the Act.
ii. Whereas Mr. Amit Jain (Company Secretary) on behalf of the company and all other noticees submitted a reply dated 07.05.2025 wherein he stated that 13 out the 21 noticees, namely Mr. Achuthan Siddharth, Mr. Shamsher Singh Ahlawat, Mr. Kamalesh Chandra Chakrabarty, Mr. Subhash Sheoratan Mundra, Mr. Prem Prakash Mirdha, Mr. Labh Singh Sitara, Mr. Satish Chand Mathur, Mr. Manjari Ashok Kacker, Mr. Bisheshwar Prasad Singh, Mr. Dinabandhu Mohapatra, Mr. Gyan Sudha Misra, Mr. Bishnu Charan Patnaik and Ms. Shefali Shah were appointed as Independent/Nominee/Non-Executive directors in the company These directors were not responsible for day-to-day functioning of the company and therefore, they were not liable for any default. Also, as per the response submitted by the company, one of the Independent directors, namely, Mr. Kamalesh Chandra Chakrabarty passed away on 26.03.2021.
iii. Whereas it is observed that the board of the company failed to provide disclosures related to title deed in the Board Report for F.Y. 2017-18 and F.Y. 2018-19 as required u/s 134 of the Act. However, the punishment for non-disclosure of information in the Board report was decriminalised w.e.f. 21.12.2020 by Companies (Amendment) Act, 2020.
Therefore, the violation pertaining to F.Y. 2017-18 and F.Y. 2018-19 cannot be adjudicated as the same does not fall under the adjudication regime during the said period.
Further, during the present adjudication proceedings, from the material/documents on record(s), prima facie non-compliance(s) as mentioned above have been noticed. In the present adjudication proceeding(s), the non-compliance(s) mentioned above are only being adjudicated and the non-compliances if any, involving aforesaid or any other section under provisions of Companies Act, 2013 shall be taken up separately in accordance with the law for necessary action, if any.
2. The details of penalty imposed on the company, officers in default and others are shown in the table below:
| (A) | Name of person on whom penalty imposed (B) | Rectification of Default required (C) | Penalty Amount (D) | Additional Penalty (E) (*Per day of continuing default i.e. date of rectification of default less order issue date) | Maximum limit for Penalty (F) |
| 1 | SAMMAAN CAPITAL LIMITED having CIN as L65922DL2005PL C136029 | 0 | 0 | 300000 | |
| 2 | AMIT KUMAR JAIN having DIN as 01784794 | 0 | 0 | 50000 | |
| 3 | MUKESH KUMAR GARG having DIN as 07078830 | 0 | 0 | 50000 | |
| 4 | GAGAN BANGA having DIN as 00010894 | 0 | 0 | 50000 | |
| 5 | ACHUTHAN SIDDHARTH having DIN as 00016278 |
0 | 0 | 50000 | |
| 6 | SHAMSHER SINGH AHLAWAT having DIN as 00017480 | 0 | 0 | 50000 | |
| 7 | SAMEER GEHLAUT having DIN as 00060783 | 0 | 0 | 50000 | |
| 8 | KAMALESH CHANDRA CHAKRABARTY having DIN as 00175892 | 0 | 0 | 50000 | |
| 9 | SUBHASH SHEORATAN MUNDRA having DIN as 00979731 | 0 | 0 | 50000 | |
| 10 | PREM PRAKASH MIRDHA having DIN as 01352748 | 0 | 0 | 50000 | |
| 11 | LABH SINGH SITARA having DIN as 01724648 | 0 | 0 | 50000 | |
| 12 | SACHIN CHAUDHARY having DIN as 02016992 | 0 | 0 | 50000 | |
| 13 | AJIT KUMAR MITTAL having DIN as 02698115 | 0 | 0 | 50000 | |
| 14 | ASHWINI OMPRAKASH KUMAR having DIN as 03341114 | 0 | 0 | 50000 | |
| 15 | SATISH CHAND MATHUR having DIN as 03641285 |
0 | 0 | 50000 | |
| 16 | MANJARI ASHOK KACKER having DIN as 06945359 | 0 | 0 | 50000 | |
| 17 | BISHESHWAR PRASAD SINGH having DIN as 06949954 | 0 | 0 | 50000 | |
| 18 | DINABANDHU MOHAPATRA having DIN as 07488705 | 0 | 0 | 0 | 50000 |
| 19 | GYAN SUDHA MISRA having DIN as 07577265 | 0 | 0 | 50000 | |
| 20 | BISHNU CHARAN PATNAIK having DIN as 08384583 | 0 | 0 | 50000 | |
| 21 | SHEFALI SHAH having DIN as 09731801 | 0 | 0 | 50000 |
3. The notified officers in default/noticee shall rectify the default mentioned above and pay the penalty, so applicable within 90 days of receipt of the order.
4. The notified officers in default/noticee shall pay the penalty amount via ‘e-Adjudication’ facility which can be accessed through the respective login IDs on the website of Ministry of Corporate Affairs and upload the copy of paid challan / SRN of e-filing (if applicable) on the ‘e-Adjudication’ portal itself. It is also directed that the penalty so imposed upon the officers in default shall be paid from their personal sources/income.
5. Appeal against this order may be filed in writing with the Regional Director, RD Noida within a period of sixty days from the date of receipt of this order, in Form ADJ setting for the grounds of appeal and shall be accompanied by a certified copy of this order [Section 454 (5) & 454 (6) of the Act, read with Companies (Adjudication of Penalties) Rules, 2014].
6. For penal consequences of non-payment of penalty within the prescribed time limit, please refer Section 454(8) of the Companies Act, 2013.
Seema Rath,
Registrar of Companies
ROC Delhi
