The Registrar of Companies, Uttar Pradesh I, by Order ID PO/ADJ/06-2026/UP/02416 dated 24 June 2026, adjudicated penalties under section 454 of the Companies Act, 2013 for violation of section 118(11) by CHICAGO KISAN CREDIT PRODUCER COMPANY LIMITED and its officers. The order states that an inspection initiated through the Ministry’s letter dated 22.11.2021 resulted in an Inspection Report dated 24.03.2023 recording that no records of Board Meetings or General Meetings were available and that the company had not filed its Annual Return and Financial Statements from the financial year 2016-17 onwards. It further records that no documents showed the holding of Board Meetings after financial year 2018 and that no Board/General Meeting Minutes were maintained for FY 2021-22, resulting in non-compliance with section 118(1). Show cause notices dated 19.05.2026 were issued, but no response or request for hearing was received. Accordingly, penalties of ₹12,500 were imposed on the company and ₹2,500 each on GAGAN DEEP SINGH, JARMANJIT SINGH, DALJIT SINGH, GULJAR SINGH, and CHANDAN DEEP. The order directs rectification of the default, payment within 90 days, and provides for an appeal to the Regional Director, Delhi, within 60 days.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Uttar Pradesh I
2nd Floor, Kendriya Bhawan, GPOA Building, Fazalganj, Kanpur, Uttar Pradesh, India, 208012
Phone: 0512-2310443
E-mail: roc.kanpur@mca.gov.in
Order ID: PO/ADJ/06-2026/UP/02416 | Dated: 24/06/2026
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (THE ACT’) FOR VIOLATION OF SECTION 118(11) 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, 2014 for adjudging penalties under the provisions of this Act.
B. Company details:
In the matter relating to CHICAGO KISAN CREDIT PRODUCER COMPANY LIMITED [herein after known as Company] bearing CIN U01407UP2014PTC063578, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at 128/K/61 KIDWAI NAGAR NA KANPUR KANPUR DEHAT UTTAR PRADESH INDIA 208011
Individual details:
In the matter relating to GAGAN DEEP SINGH
In the matter relating to JARMANJIT SINGH
In the matter relating to DALJIT SINGH
In the matter relating to GULJAR SINGH
In the matter relating to CHANDAN DEEP
C. Provisions of the Act:
(11) If any default is made in complying with the provisions of this section in respect of any meeting, the company shall be liable to a penalty of twenty-five thousand rupees and every officer of the company who is in default shall be liable to a penalty of five thousand rupees.
D. Facts about the case:
1. Default committed by the officers in default/noticee – 1.This Inspection has been conducted via the Ministry’s letter dated 22.11.2021.
2. The Inspecting Officer (10) submitted the Inspection Report to the competent authority on 24.03.2023. The report explicitly mentions that no records of board meetings/general meetings are available, and Company has not filed its Annual Return, Financial Statements from the Financial year since 2017. Therefore, there are no documents to show whether the company is holding any board meeting after financial year 2018, hence, it is clear that the company is not holding any Board/General Meeting Minutes for the Financial Year 2021-22.
3. As per Section 118 (1) of the Companies Act, 2013, every company shall cause minutes of the proceedings of every general meeting of any class of shareholders or creditors, and every resolution passed by postal ballot and every meeting of its Board of Directors or of every committee of the Board, to be prepared and signed in such manner as may be prescribed and kept within thirty days of the conclusion of every such meeting concerned, or passing of resolution by postal ballot in books kept for that purpose with their pages consecutively numbered.]
4. From the above, it is observed that the that the Company has not convened the Board Meetings/General Meetings as per the requirement of the Companies Act, 2013 for Financial Year 2021-22. The said default for not holding/maintenance of the record of the Board Meeting/General Meetings for the Financial Year 2021-22 attracts the penal provision mentioned under Section 118 (11) of the Companies Act, 2013.
Keeping in view of the above, you are hereby called upon to show cause as to why penal action should not be initiated against the company and its officers in default of the aforesaid default.
5. 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. The Inspecting Officer (10) observed that no minutes of proceedings of board meetings/general meetings were available, nor the Company has filed its Annual Return, Financial Statements starting from the financial year 2016-17. Therefore, it was inferred by the 10 that the company has not maintained any Board/General Meeting Minutes for the Financial Year 2021-22.
This office issued Show Cause Notice on 19.05.2026 to the company and every officer of the Company who is in default. More than 30 days have expired from issue of Show Cause Notice, 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 applicable as mentioned below is being imposed upon the company as well as its officer-in default as per Section 118 (11) of the Companies Act, 2013 for violation 118 (1) 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 | CHICAGO KISAN CREDIT PRODUCER COMPANY LIMITED having CIN as U01407UP2014P TC063578 | 12500 | 0 | 25000 | |
| 2 | GAGAN DEEP SINGH having DIN as 05241688 | 2500 | 0 | 5000 | |
| 3 | JARMANJIT SINGH having DIN as 05276577 | 2500 | 0 | 5000 | |
| 4 | DALJIT SINGH having DIN as
06830580 |
2500 | 0 | 5000 | |
| 5 | GULJAR SINGH having DIN as 06830589 | 2500 | 0 | 5000 | |
| 6 | CHANDAN DEEP . having DIN as 06830606 | 2500 | 0 | 5000 |
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 Delhi 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 Uttar Pradesh I
