Order for penalty for violation of section 92 of the Companies Act,2013 with respect to Magadh Spun Pipe Limited
Company is in default for filing its Annual Return for the financial year end 31.03.2019 and 31.03.2020 with the office of Registrar of Companies, Patna.
Provisions of Section 92 of the Companies Act, 2013 has been contravened by the company and its directors/officers and therefore they are liable for penalty u/s 92(5) of the Companies Act, 2013.
Section 92(5):- “If a company fails to file its annual return under sub-section (4), before the expiry of the per specified therein, such company and its every officer who is in default 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 when such failure continues, subject to a maximum of two lakh rupee in case of a company and fifty thousand rupees case of an officer who is in default”.
on the date of hearing, neither anyone appeared for hearing nor any reply has been received As per MCA record, the company has not filed its Annual Return for the financial year end 31.03.2019 and 31.03.2020 till date. Hence the Company and its directors /Officers in default and liable for penalty as per section 92(5) of the Companies Act, 2013.
For above default MCA impose a penalty on Company, and its Directors.
0612-6604891
E-Mail : [email protected]
Website : www.mca.gov.in
Government of India
Ministry Of Corporate Affairs
Office of the Registrar of Companies, Bihar-Cum-Official Liquidator, High Court, Patna
4th Floor, ‘A’ Wing, Maurya Lok Complex
Dakbunglow Road, Patna-800001
No. ROG/PAT/Compt/2091/1994
Date: 09.11.2022
Order for penalty for violation of section 92 of the Companies Act, 2013
MAGADH SPUN PIPE LIMITED
CIN: U27109BR1985PLC002091
Appointment of Adjudication Officer:–
1. The Ministry of Corporate Affairs vide its Gazette Notification No. A-42011/112/2014- Ad.II dated 24.03.2015 has appointed the undersigned as Adjudicating Officer in exercise of the power conferred under section 454 of the Companies Act, 2013 (herein after known as Act) read which Companies (Adjudication of Penalties) Rules, 2014 for adjudging penalties under the provisions, this Act.
Company:–
2. Whereas, Company M/s. Magadh Spun Pipe Limited, CIN: U27109BR21985PLC002091 (hereinafter known as Company) is a company incorporated on 20.01.1985 under the provisions of Company Act, 1956/2013 in the state of Bihar and having its registered office situated at Shop No. R/4, Fourth Floor, Chandi Vepar Bhawan, Exhibition Road Patna Bihar 800001, India as per MCA website.
Facts about the case:-
3. Whereas, the company is in default for filing its Annual Return for the financial year end 31.03.2019 and 31.03.2020 with the office of Registrar of Companies, Patna. Hence, this office has issued show cause notice for default under section 92 of the Companies Act, 2013 vide ROC/PAT/Compt/2091/1505-1508 dated 09.09.2022.
4. Whereas, this office has not received any reply from the company and its directors. Hence, it appear that the provisions of Section 92 of the Companies Act, 2013 has been contravened by the company and its directors/officers and therefore they are liable for penalty u/s 92(5) of the Companies Act, 2013.
Section 92(5):- “If a company fails to file its annual return under sub-section (4), before the expiry of the per specified therein, such company and its every officer who is in default 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 when such failure continues, subject to a maximum of two lakh rupee in case of a company and fifty thousand rupees case of an officer who is in default”.
5. Whereas, this office had issued “Notice for Hearing” vide No. ROC/PAT/Compt/2091/1717-172: dated 26.09.2022 to the company and directors/officers in default to appear personally or through authorized representative under Rule 3(3), Companies (Adjudication of Penalties) Rules, 2014 o 1410.2022 at 11.00 AM and also to submit their response, if any, one working day prior to date ( hearing i.e. 13.10.2022.
6. That, on the date of hearing, neither anyone appeared for hearing nor any reply has been receive( As per MCA record, the company has not filed its Annual Return for the financial year end 31.03.2019 and 31.03.2020 till date. Hence the Company and its directors /Officers in default and liable for penalty as per section 92(5) of the Companies Act, 2013.
ORDER
7. Having considered the facts and circumstances of the case, and after taking into account the factor above, I hereby impose a penalty on Company, and its Directors as per Table Below under section 92(5) of the Act for failure in compliance of section 92(4) of the Companies Act, 2013 for the Financial Years 31.03.2019 and 31.01.2020.
(* No of days have been calculated from 29.11.2019 to till date of order, i.e, 09.11.2022 for FY 2018-2019-20)
8. The noticee shall pay the amount of penalty individually for the company and its directors (our company own pocket) by way of e-payment (available on Ministry website www.mca.gov.in) under “1 miscellaneous fees” category in MCA fee and payment Services within 90 (ninety) days of this orc The Challan/SRN generated after payment of penalty through online mode shall be forwarder this office.
9. Appeal against this order may be filled in writing with the Regional Director (ER), Ministry Corporate Affairs, Kolkata, within a period of 60 (sixty) days from the date of receipt of this order in Form ADJ (available on Ministry website www.mca.gov.in) setting forth the grounds of app and shall be accompanied by a certified copy of this order {Section 454(5) & 454(6) of the Act r… with Companies (Adjudication of Penalties) Rules, 2014).
10. Your attention is also invited to section 454(8) of the Act in the event of non-compliance of this order
(Aparajit Bar..
Adjudicating Officer
Registrar of Companies-Cu…
Official Liquidator, Patna