The Registrar of Companies (ROC), Chennai issued an adjudication order under Section 454 of the Companies Act, 2013 for violation of Section 92 relating to failure to file annual returns. The company failed to file its annual return for the financial year 2014–15 within the statutory period prescribed under Section 92(4). Earlier, the ROC had issued a show-cause notice in 2016 for violations of Sections 92, 96, and 137/129. As no response was received from the company or its directors, a complaint was filed before the Additional Chief Metropolitan Magistrate, Economic Offences Court, Egmore. The court subsequently transferred the matter to the adjudicating authority for disposal under Section 454 of the Act. Despite issuance of adjudication notices and hearing opportunities in 2026, the company and its directors neither filed replies nor appeared for the hearing, resulting in ex-parte proceedings. The ROC held the company and its officers liable and imposed statutory penalties under Section 92(5).
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Chennai
Registrar Of Companies, Block No.6,B Wing 2nd Floor, Shastri Bhawan 26, Haddows Road, Chennai, Tamil Nadu, India,
600034
Phone: 044-28276652/28276654
E-mail: roc.chennai@mca.gov.in
Order ID: PO/ADJ/03-2026/CN/01734 | Dated: 11/03/2026
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 92(5) 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, 2014 for adjudging penalties under the provisions of this Act.
B. Company details:
In the matter relating to MAHAVIR ADVANCED REMEDIES LIMITED [herein after known as Company] bearing CIN L24231TN1992PLC022562, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at NO 67/2, III STREET SECOND FLOOR, RAILWAY COLONY, NM ROAD NA CHENNAI CHENNAI TAMIL NADU INDIA 600029
Individual details:
In the matter relating to SANJAY KUMAR _________
In the matter relating to MANI MURUGADAS RAO _________
In the matter relating to SHANTILAL RAMNARAYAN PUROHIT _________
C. Provisions of the Act:
If any company fails to file its annual return under sub-section (4), before the expiry of the period specified therein, such company and its every officer who is in default 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 during which such failure continues, subject to a maximum of two lakh rupees in case of a company and fifty thousand rupees in case of an officer who is in default.
D. Facts about the case:
1. Default committed by the officers in default/noticee – The Registrar of Companies had issued show cause notice vide F.No.22562/ DROC(BSK)/SCN/2016 dated 26.10.2016 to the Company M/s. MAHAVIR ADVANCED REMEDIES LIMITED and its directors Mr. Mani Murugadas Rao and Mr. Shantilal Ramnarayan Purohit for the contravention of Section 92, 96 and 137/129 of the Companies Act, 2013. As no reply has been received from the Company and its Directors, the DROC had filed a Complaint under section 92(4) read with 92(5) of the Companies Act, 2013 before the Hon’ble Court of Additional Chief Metropolitan Magistrate Economic Offences, Egmore. The Hon’ble Court vide order dated 17.04.2024 transferred the case to the Adjudicating Authority for adjudication under section 454 of Companies Act, 2013.
Pursuant to the Show cause notice and the Complaint filed by the DROC, it is noticed that the Company had failed to file its Annual Returns for the Financial year 2014-2015 till the issuance of this notice, which violates section 92(4) of the Companies Act, 2013.
Section 92(4) reads as follows;
(4) Every company shall file with the Registrar a copy of the annual return, within sixty days from the date on which the annual general meeting is held or where no annual general meeting is held in any year within sixty days from the date on which the annual general meeting should have been held together with the statement specifying the reasons for not holding the annual general meeting, with such fees or additional fees as may be prescribed.
In view of the above, it is evident that the company has violated section 92(4) of the Companies Act, 2013 for the Financial Year 2014-15. Therefore, the company and its officers in default are liable for penal action under section 92(5) of the Companies Act, 2013.
2. The Adjudicating Authority has issued notice for e-Adjudication vide SCN/ADJ/01-2026/CN/03469 for defaults under the section 92(5) of the Companies Act, 2013 on 20.01.2026, but no reply has been received from the Officers in default or their Authorized representatives. Further, the Adjudicating Authority had issued notice for e-Hearing on 17.02.2026, e-Hearing scheduled on 20.02.2026. Neither the Officers in default nor their authorized representatives attended the hearing scheduled on 20.02.2026. Therefore, as per Rule 3(8) of the Companies (Adjudication of Penalties) Rules 2014, the matter is being proceeded with in the absence of such person (ex-parte).
E. Order:
1. On perusal of the Complaint filed under section 92(4) read with section 92(5) of Companies Act, 2013 and relevant records, it is noticed that the Company had failed to file its Annual Returns for the Financial Year 2014-15 till the issuance of this notice. In view of the above, it is evident that the Company has violated section 92(4) of the Companies Act, 2013. Therefore, the Company and its officers in default are liable for penalty under section 92(5) 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 | SANJAY KUMAR having DIN as
05338342 |
50000 | 0 | 50000 | |
| 2 | MAHAVIR ADVANCED REMEDIES LIMITED having CIN as L24231TN1992PL C022562 | 200000 | 0 | 200000 | |
| 3 | MANI MURUGADAS RAO having DIN as 05217972 | 50000 | 0 | 50000 | |
| 4 | SHANTILAL RAMNARAYAN PUROHIT having DIN as 06504262 | 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 Chennai 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.
B SRIKUMAR,
Registrar of Companies
ROC Chennai
