The Registrar of Companies, Kanpur issued an adjudication order under Section 454 of the Companies Act, 2013 imposing penalties on Pranam India Nidhi Limited and its directors for failure to file financial statements for the year ending 31.03.2018. An inquiry initiated under Section 206(5) revealed that the company had not filed its AOC-4 financial statements for multiple financial years—2018, 2019, 2020, and 2021—constituting a prolonged violation of Section 137(1). Despite receiving a Show Cause Notice on 24.06.2025, neither the company nor its directors responded or sought a hearing. Consequently, the ROC imposed the maximum penalty of ₹2,00,000 on the company and ₹50,000 each on its directors as officers in default. The order directs rectification and payment of penalties within 90 days through the MCA e-Adjudication portal. Parties may appeal before the Regional Director within 60 days, and failure to comply may lead to further consequences under Section 454(8).
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Kanpur
Registrar of Companies, 37/17, Westcottt Buidling, The Mall, Kanpur, Uttar Pradesh, India, 208001
Phone: 0512-2310443,2310227,2310323
E-mail: roc.kanpur@mca.gov.in
Order ID: PO/ADJ/12-2025/KN/01094 | Dated: 09/12/2025
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 137(3) 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 PRANAM INDIA NIDHI LIMITED [herein after known as Company] bearing CIN U65991UP2014PLC067506, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at SONBARSA BAZAR P.O.SONBARSA NA GORAKHPUR GORAKHPUR UTTAR PRADESH INDIA 273002
Individual details:
In the matter relating to AWADHESH KUMAR JAISWAL ____________
In the matter relating to SUNIL KUMAR GUPTA ____________
In the matter relating to SUNIL KUMAR JAISWAL ____________
C. Provisions of the Act:
(3) If a company fails to file the copy of the financial statements under sub-section (1) or sub-section (2), as the case may be, before the expiry of the period specified therein, the company shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day during which such failure continues, subject to a maximum of two lakh rupees, and the managing director and the Chief Financial Officer of the company, if any, and, in the absence of the managing director and the Chief Financial Officer, any other director who is charged by the Board with the responsibility of complying with the provisions of this section, and, in the absence of any such director, all the directors of the company, shall be shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with further penalty of one hundred rupees for each day after the first during which such failure continues, subject to a maximum of fifty thousand rupees.
D. Facts about the case:
1. Default committed by the officers in default/noticee – The SCA of MCA vide its minutes dated 10.04.2020 directed to conduct the inquiry u/s. 206(5) of the Companies Act, 2013. During the Couse of Inquiry, Inquiring Officer has observed/pointed out that ? It has been observed from the MCA21 Registry that the Company has not filed the Financial Statements in Form AOC-4 for the year ending 31st March 2018, 31st March 2019, 31st March 2020 and 31st March 20201 till date. Hence, it has violated the provisions of Section 137(1) of the Companies Act, 2013. Hence penal action as contemplated under Section 137(3) of the Companies Act, 2013 may be initiated against the Company and its officers in default for violation of Section 137(1) of the Companies Act, 2013.? The said violation was reported by the Inquiring Officer in his report dated 09.09.2022. Accordingly, the office of DGCoA vide its File No. CL-II-04/15/2024-O/o DGCoA-MCA dated 02.09.2024 and RDNR vide its No. Inquiry/206(4)/Pranam/RD (NR) /2022/1263 dated 18.05.2023 directed this office to take necessary action for non-filing of Annual Reports for the financial year 31.03.2018 under section 137(1) of Companies Act, 2013.
2. Neither any response has been received from the company and its officers-in-default nor any request of hearing received in this regard.
E.Order:
1. This office issued Show Cause Notice on 24.06.2025 to the company and its officer-in-default for not filing the Financial Statements for the year ending as at 31.03.2018 as required under section 137(1) of the Companies Act 2013. More than 30 days have expired, no response has been received till date. The company and its officer-in default have also not requested for hearing. In the said circumstances, penalty as mentioned below is being imposed upon the company as well as its officer-in default under section 137(3) of the Companies Act, 2013.
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 | PRANAM INDIA NIDHI LIMITED having CIN as U65991UP2014P LC067506 | 200000 | 0 | 200000 | |
| 2 | AWADHESH KUMAR JAISWAL having DIN as 00447341 | 50000 | 0 | 50000 | |
| 3 | SUNIL KUMAR GUPTA having DIN as 01936421 | 50000 | 0 | 50000 | |
| 4 | SUNIL KUMAR JAISWAL having DIN as 06755485 | 50000 | 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.
Sanjay Bose,
Registrar of Companies
ROC Kanpur
