Company & Managing Director Penalized for Continued Non-Filing of Balance Sheet

The Registrar of Companies (ROC), Patna passed an adjudication order under Section 454 of the Companies Act, 2013 against SHG Mutual Benefits Nidhi Limited and its Managing Director for violation of Section 137(3) due to failure to file the company’s balance sheet for the financial year ended 31.03.2019. During inspection of MCA portal records, the ROC found that the financial statements had not been filed within the prescribed period. A notice for adjudication was issued on 13.03.2026 and a hearing was fixed for 20.05.2026, but neither the company nor its Managing Director appeared or submitted any representation. The ROC noted that the default continued as the balance sheet remained unfiled till the date of the order. Accordingly, the maximum penalty of Rs. 2,00,000 was imposed on the company and Rs. 50,000 on the Managing Director. The order directed rectification of the default and payment of penalties within 90 days through the MCA e-Adjudication portal, with a right to appeal before the Regional Director, Kolkata within 60 days.

GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Patna
ROC-cum-Official Liquidator, Ministry Of Corporate Affairs, High Court Of Patna, Maurya Lok Complex, Block “A” 4th Floor, Dak Bungalow Road, Patna, Bihar, India, 800001
Phone: 0612-2950121
E-mail: roc.patna@mca.gov.in

Order ID: PO/ADJ/05-2026/PT/02241 | Dated: 20/05/2026

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. 698(E) dated 10/02/2026 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, 201014 for adjudging penalties under the provisions of this Act.

B. Company details:

In the matter relating to SHG MUTUAL BENEFITS NIDHI LIMITED [herein after known as Company] bearing CIN U74999BR2016PLC032131, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at C/O SATISH KUMAR, YADAV MARKET BITHAN ROAD NA HASANPUR BAZAR SAMASTIPUR BIHAR INDIA 848205

Individual details:

In the matter relating to SATISH KUMAR……

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 – During the course of inspection, and as per record available on MCA portal, it was noticed that the company has not filed its balance sheet for the financial year ended 31.03.2019. Thereby violating the provisions of section 137(3) of the Companies Act, 2013.

2. This office has issued notice fore adjudication on 13.03.2026, thereafter hearing was scheduled on 20.05.2026, however, none appeared on the said date and no representation has been received in this office. Also the balance sheet for the financial year ended 31.03.2019 has not been filed till date, Hence it appears that the company and its managing director has defaulted the provisions of section 137 of the Companies Act, 2013.

E. Order:

1. No one appeared on the date of hearing and no representation has been received in this office. Also the balance sheet for the financial year ended 31.03.2019 has not been filed till date, Hence, penalty imposed as per provision of section 137 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:

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.

Dr Rameshkumar,
Registrar of Companies
ROC Patna