Directors Imprisoned/penalized under Companies Act, 1956
Penalty on Directors of Companies
Press Release dated 24-07-2015
Information pertaining to imprisonment/penalization of directors of companies having turnover of more than Rs 50 crore annually, in the year 2014-15 is as under:
S. No. | Name of Company | Name of the Directors | Section of Companies Act, 1956 violated | Penalty levied | Status of the case |
1. | M/s XRBIA DEVELOPERS LIMITED | Dilip Ramkrishna Khapre,Manoj Kumar Murlidhar Kamble | 159, 220(3) | Total Rs.3000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) | Action Completed |
2 | M/s BORACHEM INDUSTRIES LIMITED | Suresh Kanayalal Raka, Ashok Namdevrao Rukari,Omprakash Pattnayak | 159, 220(3) | Total Rs.4000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) | Action Completed |
3 | M/s LI TAKA PHARMACEUTICALS LIMITED | Pravin Kumar Kantilal Mutha,Suresh Kanayalal Raka, Cajetan Valerian Dsouza,Omprakash attanayak | 159, 220(3) | Total Rs.5000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) | Action Completed |
4 | M/s SIDHANATH SUGAR MILLS LIMITED | Dilip Bramhadeo Mane | 220(3) | Total Rs.1000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in this case) | Action Completed |
5 | M/s PEGASUS HEALTHCARE LIMITED | Rajendra Chhotubahi Kapadia, Suresh Kanayalal Raka,Cajetan Valerian Dsouza | 159, 220(3) | Total Rs.4000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) | Action Completed |
6 | M/s ATIBAR INDUSTRIES COMPANY LTD | Shri Samir Kumar Sarawgi, Managing Director,Shri Bibhu Prasad Bhoi, company secretary | 220 | Total Rs.4500/- fine (Rs1500/- fine imposed on each Managing Director and Company Secretary apart from fine on the company) | Action Completed |
7 | M/s SCL STEEL CORPORATION LIMITED | Avijit Chakraborty,Manas Kumar Dan,Prasanta Chatterjee,Joy deb Biswas | 56(3), 60B/629A, 67 (1) & (2) /629A and 68 | Total Rs.1,95,000/- fine (Rs.39,000 fine imposed on each Director apart from fine on the Company) | Action Completed |
8 | M/s MAN STRUCTURALS PRIVATE LIMITED | Kishore P. Rungta, Managing Director | 58A (1) & 58A(2) read with 58A(6) | Fine of Rs.1,89,31,294/-, Rs.76,74,525/-, Rs.12,59,131/- for the years 1996-97, 1997-98, 1998-99 respectively imposed on the company. Further, the Managing Director of the company was convicted for a period of two year simple imprisonment and a fine of Rs. 5000/- was imposed on him | The Company and Managing Director have filed an appeal before the Appellate Court which is pending. |
9 | LAKHANI INDIA LIMITED | Amarjeet Kalra Whole Time Director, Arun Virmani, Company Secretary | 159/220 | Total Rs.20000/- fine(Rs.10000 each on whole time Director and Secretary) | Case in respect of one of the directors, Shri Parmeshwar Dyal Lakhani, has been consigned to record by the Court as the Court has declared him a Proclaimed Offender. |
10 | SATYAM COMPUTER SERVICES LTD. | Ramalinga Raju,B. Ramaraju,V. Srinivas | 309(1) & 628 | Fine of Rs. 5 lakh each and in default of paying fine, simple imprisonment of 6 months each | All the four directors convicted have gone in appeal. |
Ramalinga Raju,B. Ramaraju,Srinivas, Mynampati | 211(7) & 628 | Simple Imprisonment of 6 months for each accused and Fine of Rs. 10,000, and in default of paying fine, simple imprisonment of 1 month each | |||
Ramalinga Raju,B. Ramaraju,Srinivas,Mynampati | 211 & 628 | Simple Imprisonment of 6 months for each accused and Fine of Rs. 10,000, and in default of paying fine, simple imprisonment of 1 month each | |||
Ramalinga Raju,B. Ramaraju,Mynampati | 217 (2a) & 628 | Simple Imprisonment of 6 months for each accused and Fine of Rs. 20,000/- and in default of paying fine, simple imprisonment of 1 month each | |||
Ramalinga Raju,B. Ramaraju,Srinivas | 211 (1) & (2) & 628 | Simple Imprisonment of 6 months for each accused and Fine of Rs. 10,000/- and in default of paying fine, simple imprisonment of 1 month each. | |||
Ramalinga Raju,B. Ramaraju,Mynampati | 220 (1) & 628 | Fine of Rs. 5 lakh and in default of paying fine, simple imprisonment of 6 month each. | |||
11. | JVG GROUP COMPANIES | The matter is still pending against Mrs. Namrata Krishan, Director who has been declared as Proclaimed offender by the court. Another Director Sh. D K Aggarwal is no more. Proceedings against another Director Sh. Vijay Kumar Sharma have been dropped. | |||
JVG HOLDINGS | Upender Singh | 159 r/w 220 | Fine of Rs.10, 000 | ||
S.L. Maloo | 217 (5) | Fine of Rs.10, 000 | |||
JVG HOTELS | S.L. Maloo | 217 (5) | Fine of Rs.10, 000 | ||
JVG STEEL | S.L. Maloo | 215 | Fine of Rs.10, 000 | ||
JVG HOUSING FINANCE | S.L. Maloo | 159/220 (1) | Fine of Rs.10, 000 for non-filing of balance sheet as at 31.3.2007 | ||
S.L. Maloo | 159/220 (1) | Fine of Rs10, 000 for non-filing of balance sheet as at 31.3.2006. |
This information was given by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today
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