ROC Pune, by order dated 07/08/2026, imposed penalties under Section 10A(2) of the Companies Act, 2013 for delayed filing of Form INC-20A relating to declaration of commencement of business. Nexport Logistics Private Limited was incorporated on 14.05.2025 and filed Form INC-20A on 22.12.2025. The company accepted that, due to business exigencies and operational requirements, it inadvertently commenced business activities before filing the declaration and acknowledged that the form was not filed within the statutory period under Section 10A(1)(a). The order records the delay as 42 days and states that, as the company is a subsidiary of Excellent Industrial Properties Private Limited, it could not be treated as a Small Company under Section 2(85). Accordingly, a penalty of ₹50,000 was imposed on the company and ₹42,000 each on officers Mallinath Iranappa Kalshetti and Mayur Mallinath Kalshetti, aggregating ₹1.34 lakh. The notified officers were directed to rectify the default and pay the applicable penalties within 90 days of receipt of the order. An appeal may be filed before the Regional Director, Navi Mumbai within 60 days.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Pune
Sheti Mahamndal Bhavan, 1st Floor, 270, Bhamburda, Senapati Bapat Road, Pune, Maharashtra, India, 411016
Phone: 020-27651375,020-27651378
E-mail: [email protected]
Order ID: PO/ADJ/08-2026/PU/02637 | Dated: 07/08/2026
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 10A(2) 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 NEXPORT LOGISTICS PRIVATE LIMITED [herein after known as Company] bearing CIN U52109PN2025PTC241956, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at K P SQUARE OFF/801 SR.NO 127/1A OPP DOUBLE TREE CHINCHWAD EAST PUNE CITY PUNE MAHARASHTRA INDIA 411019
Individual details:
In the matter relating to MALLINATH IRANAPPA KALSHETTI ___________
In the matter relating to MAYUR MALLINATH KALSHETTI ___________
C. Provisions of the Act:
If any default is made in complying with the requirements of this section, the company shall be liable to a penalty of fifty thousand rupees and every officer who is in default shall be liable to a penalty of one thousand rupees for each day during which such default continues but not exceeding an amount of one lakh rupees
D. Facts about the case:
1. Default committed by the officers in default/noticee – The company has filed a suo moto application for adjudication of offence u/s 454 of the Companies Act, 2013 vide Form GNL-1 wherein the company has submitted as under: The company was incorporated on 14.05.2025. The subscribers to the memorandum agrees to subscribe Rs.1,00,000 to the share capital. The subscription money was received on 15.12.2025 which was duly credited to the bank account. Thereafter the company has filed Form INC-20A on 22.12.2025. Due to business exigencies and operational requirements, the company inadvertently commenced its business activities prior to filing of declaration of commencement of business. Further, Company stated that form INC-20A filed on 22.12.2025 which is beyond the statutory period of 180 days from incorporation as per section 10A(1)(a) of Companies Act, 2013. Thus, the company has prima facie violated section 10A(1)(a) of Companies Act, 2013.
Accordingly, you are hereby called upon to show cause as to why penal action under Section 454 of the Company Act, 2013 should not be initiated for the alleged violation of the provisions of the section 10A(1)(a) punishable under Section 10A (2) of the Companies Act, 2013 and you may submit objections/ reply, if any.
2. The company and the officers in default have not requested for e-hearing and the Adjudicating Officer is also of the view that the e-hearing is not required in the instant case.
E. Order:
1. a. The company has filed a suo moto application for adjudication of offense under Section 454 of the Companies Act, 2013 for violation of 10A of the Companies Act 2013. Accordingly, a Show Cause notice bearing ID: SCN/ADJ/06-2026/PU/04656 was issued to the company and Officer in default (hereinafter referred to as the Noticee) under Section 454 of the Act. A reply of the noticee to the said Show Cause Notice was received.
b. Submission of the noticees:
The noticee, in the reply, has accepted the default and further submitted that due to business exigencies and operational requirements, the company inadvertently commenced its business activities prior to filing of declaration of commencement of business. Further, Company stated that form INC-20A filed on 22.12.2025 which beyond the statutory period of 180 days from incorporation as per section 10A(1)(a) of Companies Act, 2013. Thus, the company has prima facie violated section 10A(1)(a) of Companies Act, 2013. We acknowledge that this constitutes a default under Section 10 A(1), as the Form INC-20A was not filed within 180 days of incorporation as required under the law. Total delayed period is 38 days.
c. On perusal of the record, it is seen that the company was incorporated on 14.05.2025 and the Form INC-20A was filed on 22.12.2025 i.e. with a delay of 42 days. Further, the subject company is a subsidiary of company namely Excellent Industrial Properties Private Limited and thus, the company cannot have the benefit of being termed as a Small Company as defined u/s 2 (85) of the Act. Violation of section 10A of the Act results in a punishment under section 10A (2) which prescribes penalty of Rs. Fifty Thousand on the company and Rs. One Thousand for each day on officers in default.
d. Now, in exercise of the powers conferred on the undersigned vide Notification dated 24th March 2015 and having considered the replies submitted in response to the notice issued, I hereby impose the penalty on the noticee for violation of 10A of the Companies Act 2013 punishable under section Section 10A (2) of the Companies Act, 2013 as under.
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 | NEXPORT LOGISTICS PRIVATE LIMITED having CIN as U52109PN2025P TC241956 | 50000 | 0 | 50000 | |
| 2 | MALLINATH IRANAPPA KALSHETTI having DIN as 05213928 |
42000 | 0 | 100000 | |
| 3 | MAYUR MALLINATH KALSHETTI having DIN as 05213934 |
42000 | 0 | 100000 |
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 Navi Mumbai 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.
Parvez Naikwadi,
Registrar of Companies
ROC Pune
