The Registrar of Companies (ROC), Kolkata, imposed penalties on a company and its directors for violation of Section 135(7) of the Companies Act, 2013 relating to Corporate Social Responsibility (CSR) obligations. The company had a CSR liability of approximately ₹7 lakh for FY 2023-24 but failed to fully spend the mandated amount within the prescribed timeline. Although a portion of the CSR amount was utilized for healthcare activities through a registered trust, the unspent balance was transferred to the Swachh Bharat Kosh after a delay of 124 days. The company had voluntarily filed an application for adjudication of penalties under Section 454 of the Act. After issuance of a show cause notice and absence of any reply, the ROC imposed a penalty of ₹1,60,098 on the company and ₹8,005 each on four officers in default. The order directed payment within 90 days and clarified appellate remedies before the Regional Director.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Kolkata I
4th Floor Plot No. IIIF/16, in AA-IIIF Rajarhat, New Town, 4, Kolkata, West Bengal, India, 700135
Phone: 033-22877390, E-mail: roc.kolkata@mca.gov.in
Order ID: PO/ADJ/05-2026/WB/02188 | Dated: 16/05/2026
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 135(7) 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 RESURGENT INDIA LIMITED [herein after known as Company] bearing CIN U74140WB2005PLC106619, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at 19, SOUTH CANAL ROAD,PARIDHAN GARMENT PARK, COMMON FACILITY BUILDING, 1ST FLOOR,MODU LE F 1 NA KOLKATA WEST BENGAL INDIA 700015
Individual details:
In the matter relating to JYOTI PRAKASH GADIA____________
In the matter relating to MANISH KEDIA_______________
In the matter relating to KRISHAN KUMAR GUPTA ______________
In the matter relating to ATUL AGGARWAL__________________
C. Provisions of the Act:
If a company is in default in complying with the provisions of sub-section (5) or sub-section (6), the company shall be liable to a penalty of twice the amount required to be transferred by the company to the Fund specified in Schedule VII or the Unspent Corporate Social Responsibility Account, as the case may be, or one crore rupees, whichever is less, and every officer of the company who is in default shall be liable to a penalty of one-tenth of the amount required to be transferred by the company to such Fund specified in Schedule VII, or the Unspent Corporate Social Responsibility Account, as the case may be, or two lakh rupees, whichever is less
D. Facts about the case:
1. Default committed by the officers in default/noticee – 1. Default committed by the officers in default/noticee ?
I. This office is in receipt of application vide GNL-1 form vide SRN: N29619236 dated 20.03.2025 filed by the company for adjudication of penalties for default u/s 135 (5) of the Companies Act, 2013 for F.Y. 2022-2023. The applicants are JYOTI PRAKASH GADIA (Managing Director), MANISH KEDIA (Whole-Time Director), KRISHAN KUMAR GUPTA (Director), and ATUL AGGARWAL (Ex-Director). As per the application, w.r.t financial year ending 31.03.2024, following has been submitted:
a) That the Applicant “1Resurgent India Limited,, (the company,,) according to the Financial Statements as on 31st March 2023 had a net worth of Rs. 24,97,54,580/- (Twenty- Four Crore Ninety-Seven Lakh Fifty-Four Thousand Five Hundred and Eighty), Turnover of Rs’ 46,08,52,090 (Forty-Six Crore Eight Lakh Fifty-Two Thousand and Ninety) and Profit of Pts. 6,92,69,963 (Six crore and Ninety-Two Lakh sixty-Nine Thousand Nine Hundred and Sixty-Three) through which the provisions pertaining to Corporate Social Responsibility contained in Section 135 of the Companies Act,2013 became applicable to the company.
b) That as per Section 135 (5) of the Companies Act, 2013, the company is mandated to spend two percent of its average net profits made during the three immediately preceding financial years on CSR activities.
c) Net Profit computed u/s 198 FY ended on 31.03.2024 is Rs. 6,92,60,539.00 , FY ended on 31.03.2023 is Rs. 1,99,99,185.00 and FY ended on 31.03.2022 is Rs. 1,57,47 ,605.00,
Average net profit of the company as per section 135(5) is Rs. 3,50,02,443.00 2% of Average net profit of the company as per section 135(5) is Rs. 7,00,049.96 Total CSR obligation for the financial year is Rs. 7,00,049.96
d) As per the abovementioned information, the total CSR liability of the company stood at Rs. 7,00,048.86 (Rupees Seven Lakhs Forty-Eight and Eighty-Six paise). However, the company was only able to spend Rs. 6,20,000 (Rupees Six Lakhs Twenty Thousand) with Sri Aurobindo divine Life Trust, having CSR Registration Number: CSR00025420, for promoting health care including preventive health care in the Jhunjhunun district of Rajasthan. However, the company was unable to expend a balance of Rs. 8,048.06 (Eighty and Forty-Eight and Eighty-Six paisa) in the financial year 2023-24.
e) That the company has duly filed form CSR-2 (Report on Corporate Social Responsibility) vide SRN: N14975429 dated November I l, 2024, as Addendum to AOC-4 CSR containing all the details of CSR amount spent and unspent for the Financial year 2023-24.
f) That the company thereafter did transfer the amount of Rs. 80,050 (Eighty Thousand and Fifty Rupees) on 31’t day of January 2025, been 124 days delay from the prescribed time limit, in Swachh Bharat Kosh a Fund vide Transaction Ref. No. 3101250035612, specified in Schedule VII of the Companies Act, 2013.
2. E-Hearing not Requested
E. Order:
1. Company has applied suo motu for adjudication of penalty of violation of Section 135 (5) of the Companies Act, 2013 for F.Y. 2022-2023 which is punishable u/s 135(7).
Show cause notice was issued to the Company and its Directors. No reply has been received.
In exercise of powers under proviso to section 454(3)(c) of the Act the undersigned hereby imposes penalty as below:
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 | RESURGENT INDIA LTD having CIN as U74140WB2005P LC106619 | 160098 | 0 | 10000000 | |
| 2 | JYOTI PRAKASH GADIA having DIN as 00029675 | 8005 | 0 | 200000 | |
| 3 | MANISH KEDIA having DIN as
01696250 |
8005 | 0 | 200000 | |
| 4 | KRISHAN KUMAR GUPTA having DIN as 02602767 | 8005 | 0 | 200000 | |
| 5 | ATUL AGGARWAL having DIN as 06547507 |
8005 | 0 | 200000 |
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 Kolkata 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.
Arya Pyarelal,
Registrar of Companies
ROC Kolkata
