The Registrar of Companies (ROC) in Mumbai has issued an order against Maxwell Life Science Limited and two of its directors, Sanjay Bastimal Surana and Neetu Sanjay Surana, for violating Section 134(3) of the Companies Act, 2013. The company had filed a suo-motu application for adjudication, acknowledging that its Board Report for the financial year 2022-23 did not include several required details. These omissions included the annual return extract (Form MGT-9), a statement on compliance with Secretarial Standards, information on energy conservation and technology absorption, details of regulatory orders, the constitution of the Internal Complaints Committee, and a statement on auditor fraud reporting. The company cited the omissions as an “inadvertent error” and requested an e-hearing.
A show cause notice was issued, but despite the scheduled e-hearing, the applicants did not appear. Based on the company’s admissions in its e-filings, the ROC determined that the company and its officers in default were liable for a penalty under Section 134(8) of the Act. The order imposes a penalty of ₹3,00,000 on Maxwell Life Science Limited and ₹50,000 each on its directors, Sanjay Bastimal Surana and Neetu Sanjay Surana. The penalties must be paid within 90 days of receiving the order, with the amounts for the directors to be paid from their personal funds. The company and its directors have the option to file an appeal with the Regional Director, RD Mumbai, within 60 days.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Mumbai
Registrar Of Companies, 100, Everest, Marine Drive, Mumbai, Maharashtra, India, 400002
Phone: 022-22812627,022-22812645, E-mail: roc.mumbai@mca.gov.in
Order ID: PO/ADJ/09-2025/MB/00653 Dated: 17/09/2025
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 134(8) OF THE COMPANIES ACT, 2013.
A. Appointment of Adjudicating Officer:
Ministry of Corporate Affairs vide its Gazette notification number S.O. 831(E) dated 24/03/2015 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 MAXWELL LIFE SCIENCE LIMITED [herein after known as Company] bearing CIN U24230MH2004PLC146536, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at OFFICE NO 5 TARGET MALL CHANDRVARKER ROAD Borivali West Borivali West Mumbai Maharashtra India 400092
Individual details:
In the matter relating to SANJAY BASTIMAL SURANA [herein after known as individual] having DIN 01275654 and having its address at C/208 VIJAY APT NO 2, S.V ROAD, OPP PUNIT NAGAR, BORIVALI (WEST) MUMBAI Maharashtra India 400092
In the matter relating to NEETU SANJAY SURANA [herein after known as individual] having DIN 07140302 and having its address at C/208, VIJAY APT NO.2, S.V.ROAD, OPP PUNIT NAGAR, BORIVALI WEST, MUMBAI MUMBAI Maharashtra India 400092
C. Provisions of the Act:
(8) If a company is in default in complying with the provisions of this section, the company shall be liable to a penalty of three lakh rupees and every officer of the company who is in default shall be liable to a penalty of fifty thousand rupees
D. Facts about the case:
1. Default committed by the officers in default/noticee – Whereas this office is in receipt of a suo-motu Adjudication Application dated 02.05.2025 filed by the Company under section 454 read with Section 134(8) of the Act for violation of Section 134(3) of the Act on account of failure to disclose certain details in the Board Report.
Whereas the Company has stated that the report of board of directors of the Company laid down in the General Meeting for FY 2022-23 did not include the following details in contravention of Section 134(3) of the Act:-
a) Extract of Annual Return vide form MGT-9;
b) Statement on Compliance with Secretarial Standards, if applicable;
c) Details of Energy Conservation and Technology Absorption;
d) Details of orders passed by regulatory authorities, courts or tribunals;
e) Details of Constitution of Internal Complaints Committee and complaints, if any;
f) Statement on fraud reporting by auditors;
In case such details have been included in subsequent year in Director report , the same may be provided with the reply to this notice.
2. Acceding to the request of the Company, an opportunity of being heard was granted to the Applicant under the provisions of the section 454(4) of the Act
E. Order:
1. A Show Cause notice bearing ID: SCN/ADJ/06-2025/MB/01601 dated 05.06.2025 was issued to the Applicants under Section 454 read with Section 134(8) of the Act for default under section 134(3) read with Rule 8(3) of the Companies (Accounts) Rules, 2014 (hereinafter referred to as the Rules).
2.The Company replied to the said Show Cause Notice on the E-adjudication module vide letter dated 20.06.2025 and stated as follows:
i. That the default pertains to the Financial Year 2021-22 till F.Y. 2023-24 wherein the requisite disclosures were not included therein.
ii. That the omission of such disclosures was an inadvertent error and was unintentional in nature, there was no mala fide intent of the Company in doing so.
iii. That the Company has taken corrective steps and strengthened internal processes to ensure such lapses do not recur in future.
iv. The Company also requested for an E-hearing.
3. Accordingly, an opportunity of being heard was granted to the Applicant under the provisions of the section 454(4) of the Act and an E-hearing notice bearing ID: EH/ADJ/07-2025/MB/00556 dated 03.07.2025 was issued. The said hearing was scheduled on 17.07.2025 at 16:10 PM (IST). However, the applicants did not appear before the Adjudicating Officer for the scheduled E-hearing.
4. On perusal of the e-filings of the Company, it is observed that the Company failed to make requisite disclosures in the Director Report for FY 2022-2023 (as mentioned in Part D of this order) under Rule 8(3) of the Rules. Accordingly, the Company and its officers in default shall be liable to a penalty under section 134(8) of the Act for default under Section 134(3) read with Rule 8(3) of the Rules.
5. Now, in exercise of the powers conferred on the undersigned vide Notification dated 24th March 2015, having considered the facts and circumstances of the case, I hereby impose a penalty of Rs. 3,00,000/- (Three Lakh only) on the Company and Rs. 50,000/- (Fifty Thousand only) on Officers- in default namely Sanjay Bastimal Surana and Neetu Sanjay Surana under the provisions of section 134(8) for default under the provisions of Section 134(3) of the Act.
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 | MAXWELL LIFE SCIENCE LIMITED having CIN as U24230MH2004P LC146536 | No rectification of Default required | 300000 | 0 | 300000 |
| 2 | SANJAY BASTIMAL SURANA having DIN as 01275654 | No rectification of Default required | 50000 | 0 | 50000 |
| 3 | NEETU SANJAY SURANA having DIN as 07140302 |
No rectification of Default required | 50000 | 0 | 50000 |
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 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.
Chandan Kumar,
Registrar of Companies
ROC Mumbai
