Whereas, the company is in default for filing its Financial Statements since its incorporation with the office of Registrar of Companies, Patna. Hence, this office has issued show cause notice for default under section 137 of the Companies Act, 2013 vide No ROC/ PAT/ SCN/ 137/ 22447/ 1166-1169 dated 23.08.2022.
As per MCA portal, paid up capital of the company- Holy Flower Cold Storage Private Limited is 100,000 and as regard to turnover, the company has not filed its balance sheet since incorporation, hence turnover could not be ascertained. Therefore, the benefits of small company cannot be extended to this company while adjudicating penalty.
Whereas, this office has not received any reply from the company and its directors. Hence, the provisions of Section 137 of the Companies Act, 2013 has been contravened by the company and its directors/officers and therefore they are liable for penalty u/s 137(3) of the Companies Act, 2013.
That, on the date of hearing, neither anyone appeared for hearing nor any reply has been As per MCA record, the company has not filed its Financial Statements since incorporation to till date. Hence the Company and its directors/Officers in default are liable for penalty as per section 137(3) of the Companies Act, 2013.
MCA hereby impose a penalty of Rs. 10,40,500 (Ten Lakhs Forty Thousand and Five Hundred) on Company, and Rs. 365,500 (Three Lakhs Sixty Five Thousand Five Hundred) each on the 3(three) Directors of the company as per Table Below for violation of Section 137 of the Companies Act, 2013 for the financial years 2014-2015, 2015-2016, 2016-2017, 2017-2018, 2018¬2019, 2019-2020, 2020-2021 and 2021-2022 .
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
Order No. ROC/PAT/SCN/137/ 22447/2329-2333 Dated:23.12.2022
Order for penalty for violation of section 137 of the Companies Act, 2013
HOLY FLOWER COLD STORAGE PRIVATE LIMITED
CIN: U74999BR2014PTCO22447
Appointment of Adjudication Officer:‑
1. The Ministry of Corporate Affairs vide- its Gazette Notification No. A-42011/112/2014- Ad. H dated 24.03.2015 has appointed the undersigned as Adjudicating Officer in exercise of the powers conferred under 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.
Company:‑
2. Whereas, Company M/ s. Holy Flower Cold Storage Private Limited, CIN: U74999BR2014PTCO22447 (herein after known as Company) is a company incorporated on 06.2014 under the provisions of Companies Act, 1956/2013 in the state of Bihar and having its registered office situated at 3, Circular Road Patna ,Bihar- 800001,India as per MCA website.
Facts about the case:-
3. Whereas, the company is in default for filing its Financial Statements since its incorporation with the office of Registrar of Companies, Patna. Hence, this office has issued show cause notice for default under section 137 of the Companies Act, 2013 vide No ROC/ PAT/ SCN/ 137/ 22447/ 1166-1169 dated 23.08.2022.
4. Whereas, this office has not received any reply from the company and its directors. Hence, the provisions of Section 137 of the Companies Act, 2013 has been contravened by the company and its directors/officers and therefore they are liable for penalty u/s 137(3) of the Companies Act, 2013.
Section 137(3) states that:- “If a company fails to file the copy of the financial statements under subsection (1) or sub-section (2), as the case may be, before the expiry of the period specified therein, the company 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 which such failure continues, subject to a maximum of two lakh rupees, and the managing director and the Chief Financial Officer of the company, if any, and, in the absence of the managing director and the Chief Financial Officer, any other director who is charged by the Board with the responsibility of complying with the provisions of this section, and, in the absence of any such director, all the directors of the company, shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with further penalty of one hundred rupees for each day after the first during which such failure continues, subject to a maximum of fifty thousand rupees”.
5. Further Section 4468 states that “if penalty is payable for non-compliance 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”.
6. As per clause 85 of section 2 of the Companies Act, 2013, small company means a company whose paid up capital and turnover shall not exceed rupees four crore and rupees forty crore respectively. As per MCA portal, paid up capital of the company- Holy Flower Cold Storage Private Limited is 100,000 and as regard to turnover, the company has not filed its balance sheet since incorporation, hence turnover could not be ascertained. Therefore, the benefits of small company cannot be extended to this company while adjudicating penalty.
7. Whereas, this office had issued “Notice for Hearing” vide ROC/ PAT/SCN/ 137/ 22447/2118-2121 dated 23.11.2022 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 on 09.12.2022 at 11:30 AM and also to submit their response, if any, one working day prior to date of hearing i.e. 08.12.2022.
8. That, on the date of hearing, neither anyone appeared for hearing nor any reply has been As per MCA record, the company has not filed its Financial Statements since incorporation to till date. Hence the Company and its directors/Officers in default are liable for penalty as per section 137(3) of the Companies Act, 2013.
ORDER
9. Having considered the facts and circumstances of the case, and after taking into account the factors above, I hereby impose a penalty of Rs. 10,40,500 (Ten Lakhs Forty Thousand and Five Hundred) on Company, and Rs. 365,500 (Three Lakhs Sixty Five Thousand Five Hundred) each on the 3(three) Directors of the company as per Table Below for violation of Section 137 of the Companies Act, 2013 for the financial years 2014-2015, 2015-2016, 2016-2017, 2017-2018, 20182019, 2019-2020, 2020-2021 and 2021-2022 .
(* No of days have been calculated from 31.01.2016 to till date of order, i.e, 23.12.2022 for FY 201415, from 31.10.2016 to till date of order, i.e., 23.12.2022 for FY 2015-2016 and so on)
10. The noticee shall pay the amount of penalty individually for the company and its directors (out of own pocket) by way of e-payment (available on Ministry website www.mca.gov.i) under “Pay miscellaneous fees” category in MCA fee and payment Services within 90 (ninety) days of this order. The Challan/SRN generated after payment of penalty through online mode shall be forwarded to this office.
11. Appeal against this order may be filled in writing with the Regional Director (ER), Ministry of 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 mca.gov.in) setting forth the grounds of appeal and shall be accompanied by a certified copy of this order (Section 454(5) and 454(6) of the Act read with Companies (Adjudication of Penalties) Rules, 2014).
12. Your attention is also invited to section 454(8) of the Act in the event of non-compliance of this
(Aparajit Barua)
Adjudicating Officer &
Registrar of Companies-Cum‑
Official Liquidator, Patna
