The Registrar of Companies, Uttar Pradesh I, issued an adjudication order dated 25.06.2026 under Section 454 of the Companies Act, 2013, imposing penalties under Section 450 for non-compliance with Section 173(1) by CMB India Nidhi Limited and its officers in default. The inquiry, conducted pursuant to Ministry of Corporate Affairs directions, recorded that the company, incorporated on 21.11.2015, held its first board meeting on 03.01.2016 instead of within thirty days of incorporation as required under Section 173(1). A show cause notice dated 08.05.2026 was issued, but no response or hearing request was received. Accordingly, penalties of ₹24,000 each were imposed on CMB India Nidhi Limited, Shambhavi, Shweta Singh, and Pradeep Kumar Maurya. The order directs rectification of the default and payment of the penalty within 90 days through the MCA e-Adjudication portal, states that officers must pay from their personal sources/income, provides for an appeal to the Regional Director, Delhi within 60 days in Form ADJ, and refers to Section 454(8) for penal consequences of non-payment.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Uttar Pradesh I
2nd Floor, Kendriya Bhawan, GPOA Building, Fazalganj, Kanpur, Uttar Pradesh, India, 208012Phone: 0512-2310443
E-mail: roc.kanpur@mca.gov.in
Order ID: PO/ADJ/06-2026/UP/02434 | Dated: 25/06/2026
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 450 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 CMB INDIA NIDHI LIMITED [herein after known as Company] bearing CIN U65923UP2015PLC074616, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at 14-C, CHAK DAUD NAGAR, NAINI NA ALLAHABAD ALLAHABAD UTTAR PRADESH INDIA 211008
Individual details:
In the matter relating to . SHAMBHAVI___________
In the matter relating to SHWETA SINGH_______________
In the matter relating to PRADEEP KUMAR MAURYA_______________
C. Provisions of the Act:
If a company or any officer of a company or any other person contravenes any of the provisions of this Act or the rules made thereunder, or any condition, limitation or restriction subject to which any approval, sanction, consent, confirmation, recognition, direction or exemption in relation to any matter has been accorded, given or granted, and for which no penalty or punishment is provided elsewhere in this Act, the company and every officer of the company who is in default or such other person shall be 1[liable to a penalty of ten thousand rupees, and in case of continuing contravention, with a further penalty of one thousand rupees for each day after the first during which the contravention 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 or any other person]
D. Facts about the case:
1. Default committed by the officers in default/noticee – 1.This office has conducted an inquiry into the affairs of the Company under the directions of the Ministry of Corporate Affairs, vide minutes dated 10.04.2020.
2.The Inquiring Officer (IO) submitted the Inquiry Report to the competent authority on 02.11.2022. The report explicitly mentions that The Inquiry Officer (IO) has observed from MGT-7 for the financial year 2015-16 that first board meeting was held on 03.01.2016 whereas company has been incorporated on 21.11.2015.
3.As per the provisions of Section 173 (1), the Company shall hold first board meeting within thirty days of the date of its incorporation as mandated under section 173(1) of the Companies Act, 2013.
4.It is observed that the Company has not complied with the statutory requirement of holding first board meeting within thirty days from the date of the incorporation of the company. The said default for not holding the first board meeting within thirty days attracts the penal provision mentioned under Section 450 for non- compliance of Section 173 (1) 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.
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. Inquiring Officer has observed that in Form MGT-7 for the financial year 2015-16 recorded that first board meeting of the company was held on 03.01.2016 whereas Company has been incorporated on 21.11.2015. Company should have held first board meeting within thirty days of the date of its incorporation as mandated under section 173(1) of the Companies Act, 2013. Hence, the penal action as contemplated under Section 450 of the Companies Act, 2013 be initiated against the Company and its officers in default for violation of Section 173 (1) of the Companies Act, 2013.
This office issued Show Cause Notice on 08.05.2026 to the company and every officer of the Company who are 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 a hearing. In the said circumstances, penalty as applicable as mentioned below are imposed as per Section 450 of the Companies Act, 2013 be initiated against the Company and its officers in default for violation of Section 173 (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 | CMB INDIA NIDHI LIMITED having CIN as U65923UP2015P LC074616 | 24000 | 0 | 200000 | |
| 2 | SHAMBHAVI having DIN as 07297154 | 24000 | 0 | 50000 | |
| 3 | SHWETA SINGH having DIN as 07297161 | 24000 | 0 | 50000 | |
| 4 | PRADEEP KUMAR MAURYA having DIN as 07296598 | 24000 | 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 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
