Registrar of Companies (ROC), Punjab and Chandigarh, has issued an order against M/s Arisebhavishya India Mutual Benefit Nidhi Limited for violating Section 12 of the Companies Act, 2013. The company failed to maintain a registered office, as required by law, and did not respond to official correspondence sent by the ROC. The non-compliance led to an investigation, revealing that the registered office address was incorrect or abandoned. A show cause notice was issued but remained unanswered except for one response from an individual claiming his name was misused for directorship. The ROC determined that the company and its directors failed to comply with the law, making them liable for penalties under Section 12(8) of the Companies Act.
As a result, penalties were imposed on the company and three directors—Nitin Kumar Srivastav, Bhola Sahani Nath, and Aniruddh Prasad Tiwari—amounting to ₹50,000 each, reduced per Section 446B since the company qualifies as a small company. The penalty must be paid via the MCA portal, with an appeal option available within 60 days. If unpaid, further fines or legal action, including imprisonment for directors, may follow. The order has been communicated to relevant authorities and uploaded to the official website.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
OFFICE OF THE REGISTRAR OF COMPANIES,
PUNJAB AND CHANDIGARH,
CORPORATE BHAWAN,
PLOT NO.4-B, SECTOR 27B, CHANDIGARH
PHONE NO.172-2639415,2639416
roc.chandigarh@mca.gov.in
No. ROC CHD / 1115 to 1119
Dated: 10/02/2025
ORDER UNDER SECTION 454 FOR VIOLATION OF SECTION 12 OF THE COMPANIES ACT, 2013, READ WITH COMPANIES (ADJUDICATION OF PENALTIES) RULES, 2014
IN THE MATTER OF M/S ARISEBHAVISHYA INDIA MUTUAL BENEFIT NIDHI LIMITED
(CIN: U65929PB2016PLC045895)
1. Appointment of Adjudicating Officer
The Ministry of Corporate Affairs vide its gazette notification no. S.O. 831(E) dated 24.3.2015, has appointed the undersigned as Adjudicating Officer (AO) in exercise of the powers conferred by section 454 of the Companies Act, 2013 (hereinafter known as Act) read with Companies (Adjudication of Penalties) Rules, 2014 for adjudging penalties under the provisions of this Act.
Company: –
2. Whereas the Company M/S ARISEBHAVISHYA INDIA MUTUAL BENEFIT NIDHI LIMITED (CIN: U65929PB2016PLC04595) was incorporated on 28.11.2016 having its registered office at SCO NC 88, IIND FLOOR, SECTOR 40(C)C, CHANDIGARH, Punjab, India, 160040, Int2ia as per data available with MCA website.
The financials and other details of the subject company (latest financials filed-no Annual Returns and Balance Sheets have been fi’3d by the company) are as under:
| S No. | Particulars | Details |
| 1. | Paid Up Capital as per latest Audited Financial Statement | Rs. 5,00,000/- |
| 2. | Date of Incorporation | 28.11.2016 |
| 3. | Turnover as per latest Audited Financial Statement | Not applicable as company has not filed the Statutory documents |
| 4. | Holding Company | No |
| 5. | Subsidiary Company | No |
| 6. | Whether company registered under section 8 of the Act | No |
| 7. | Whether company registered under any other special Act? | No |
| 8. | Whether Company is small company | Yes |
| 9. | Whether Section 446B is applicable to the company (Lesser penalties for Certain companies) |
Yes |
3. Relevant Provisions of the Companies Act, 2013 which are applicable in the present case
Section 12(1) of the Companies Act, 2013 read as under: –
“A company shall, within thirty days of its incorporation and at all times thereafter, have a registered office capable of receiving and acknowledging all communications and notices as may be prescribed.”
Section 12(4) of the Companies Act, 2013 read as under: –
“A Notice of every change of the situation of the registered office, verified in the manner prescribed, after the date of incorporation of the company, shall be given to the Registrar within thirty days of the change, who shall record the same.”
Section 12(8) of the Companies Act, 2013 read as under: –
“If any default is made in complying with the requirement of this section, the company and every officer who is in default shall be liable to a penalty of one thousand rupees for every day during which tho default continues but not exceeding one lakh rupees.”
Section 446B of the Companies Act, 2013 reads as under :
“Notwithstanding anything contained in this Act, if penalty is payable for noncompliance of any of the provisions of this Act by a One Person Company, small company, start-up company or Producer Company, or by any of its officer in default, or any other person in respect of such company, then such company, its officer in default or any other person, as the case may be, shall be liable to a penalty which shall not be more than one-half of the penalty specified in such provisions subject to a maximum of two lakh rupees in case of a company and one lakh rupees in case of an officer who is in default or any other person, as the case may be.
Explanation.—For the purposes of this section-
(a) “Producer Company” means a company as defined in clause (I) of section 378A;
(b) “start-up company” means a private company incorporated under this Act or under the Companies Act, 1956 and recognised as start-up in accordance with the notification issued by the Central Government in the Department for Promotion of Industry and Internal Trade.”
4. Relevant Rules are as under:-
(I) Rule 3(12) of Companies (Adjudication of Penalties) Rules, 2014
“While adjudging quantum of penalty, the adjudicating officer shall have due regard to the following factors, namely.-
a) size of the company
b) nature of business carried on by the company,
c) injury to public interest,
d) nature of the default,’
e) repetition of the default,’
f) the amount of disproportionate gain or unfair advantage, wherever quantifiable, made as a result of the default: and
g) the amount of loss caused to an investor or group of investors or creditors as a result of the default
Provided that, in no case, the penalty imposed shall be less than the minimum penalty prescribed, if any, under the relevant section of the Act.”
(ii) Rule 3 (13) of Companies (Adjudication of Penalties) Rules, 2014 which read as under:
“In case a fixed sum of penalty is provided for default of a provision, the adjudicating officer shall impose that fixed sum, in case of any default therein.”
5. Facts about the case: –
Whereas this office Wherein this office has sent a letter to the registered address of the company at SCO NO-88, IIND Floor Sector 40(C)C, Chandigarh, Punjab, India, 160040, which was received back undelivered with the postal remarks that “Left”/”no such person”. The company or its representatives were not found at its registered office address. This office has issued Show Cause Notice under section 12(8) for the violation of section 12(4) of the Companies Act, 2013 read with Companies (Adjudication of Penalties) Rules, 2014 to the company and its directors vide this office letter No. ROC-CHD/2024-25/336 to 340 dated 08.07.2024. The show cause notice sent to the company has been received back undelivered on 13.07.2024 with the postal remarks “no such person in the address”. No reply has been received to the Show cause notice sent to the Company and its the Directors except that of one director namely Sh. Sunil Kumar Srivastava. Shri Sunil Kumar Srivastava in his reply dated 06.09.2024 (received on 10.09.2024) has stated that he was actually appointed on the post of relationship manager in the subject company and that he was removed from the said post on 15.10.2016. He further stated that after being thrown out of the company, he came to know that his signed paper/documents has been misused by the chairman Shri Nitin Srivastava as he was appointed as a director in some companies through fake means. Therefore, he resigned from the said company on 28.03.2017 and did not take part in the affairs of the subject company. Thus, it is evident that the Company and its directors have failed to comply with the provision of section 12(1) & 12(4) of the Companies Act, 2013, in maintaining registered office of the company, thereby attracting the penal provisions against the company and officers in default defined under section 2(60) of the Companies Act, 2013. Penal provision under section 12(8) is mentioned in point no. 3 above.
6. Therefore, it is concluded that the company and its officers in default have failed in maintaining the registered office of the company. Therefore, the company and its officers in default are liable for penalty as prescribed under Section 12(8) of the Act for non-maintenance of registered office of the company viz. ARISEBHAVISHYA INDIA MUTUAL BENEFIT NIDHI LIMITED for 213 days i.e., with effect from 13.07.2024 (date of return of the letter dated 08.07.2024) to 10.02.2025 (Till this date) in terms of Section 12(1) of the Act.
Accordingly, I am inclined to impose a penalty as prescribed under Sub-Section (8) of Section 12 of the Companies Act, 2013. The details of the penalty imposed on the company and officers in default are as:
Nature of Default (1) |
Violations under Companies Act, 2013 (2) |
Name of person on whom penalty imposed (3) |
No. of days of default (4) |
Per day penalty for default (Rs) (5) |
Total Default amount (Rs) (6) |
Maximum Limit for penalty (Rs) (7) |
Penalty Based on column (6) (Rs) (8) |
Final penalty Imposed u/s 446B of the Companies Act,2013 (Rs) (9) |
Non- Maintenance of Registered Office |
Sec.12 |
On Company |
213 |
1000 |
213*1000 = 213000 |
1,00,000 |
2,13,000 |
50,000 |
Mr. Nitin Kumar Srivastav |
213 |
1000 |
213*1000 = 213000 |
1,00,000 |
2,13,000 |
50,000 |
||
Mr. Bhola Sahani Nath |
213 |
1000 |
213*1000 = 213000 |
1,00,000 |
2,13,000 |
50,000 |
||
Mr. Aniruddh Prasad Tiwari |
213 |
1000 |
213*1000 = 213000 |
1,00,000 |
2,13,000 |
50,000 |
I am of this opinion that penalty is commensurate with the aforesaid failure committed by the addressees and penalty so imposed upon the Officers-in-default shall be paid from their personal sources/income.
7. It is further directed that penalty imposed shall be paid through the Ministry of Corporate Affairs portal only as mentioned under Rule 3(14) of Company (Adjudication of Penalties) (Amendment) Rules, 2019 under intimation to this office.
8. Appeal against this order may be filed in writing with the Regional Director (Northern Region), Ministry of Corporate Affairs, CGO Complex, Lodhi Road, New Delhi, within a period of sixty days from the date of receipt of this order, in Form ADJ setting forth 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].
9. Please note that as per Section 454(8):
(i), where a company fails to comply with the order made under sub-section (3) or sub-section (7), as the case may be, within a period of ninety days from the date of the receipt of the copy of the order, the company shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees, and
(ii) in case of an officer of a company who is in default, such officer shall be punishable with imprisonment which may extend to six months or with fine which shall not be less than twenty-five thousand rupees but which may extend to one lakh rupees, or with both.
10. In terms of the provisions of sub-rule (9) of Rule 3 of the Companies (Adjudication of Penalties) Rules, 2014, copy of the order is being sent to: – (1.) M/s Arisebhavishya India Mutual Benefit Nidhi Limited, SCO NO-88, IIND Floor, Sector 40(C)C, Chandigarh, Punjab, India, 160040 India, (2.) Nitin Kumar Srivastav, (Director), _________(3.) Mr. Bhola Sahani Nath. (Director), _____________, (4.) Mr. Aniruddh Prasad Tiwari, (Director), __________ and (5.) Regional Director (Northern Region), Ministry of Corporate Affairs, CGO Complex. Lodhi Road, New Delhi and will also be uploaded on website.
(Kamna Sharma)
Registrar of Companies & Adjudicating Officer
Punjab and Chandigarh
