On May 24, 2024, the Registrar of Companies, Karnataka, issued an adjudication order against Credii Technologies Private Limited for violating Section 12(3)(c) of the Companies Act, 2013. The company failed to include required details—such as the telephone number, email, and Corporate Identity Number—on its letterheads and official documents from the financial year 2011-12 to 2019-20. Despite the company’s application for adjudication and a subsequent hearing, the penalty remains significant: ₹1,00,000 each for the company and its Managing Director, Mr. Vamshi Krishna Mokshagundam. The penalty must be paid within 90 days, with appeals permissible to the Regional Director within 60 days. Non-compliance with this order could result in further penalties as specified under Section 454(8) of the Companies Act, 2013.
Registrar of Companies, Karnataka
Kendriya Sadan, 2nd Floor, `E- Wing,
Koramangala, Bengaluru – 560 034
Phone : 080-25537449/25633105
E-mail ID: [email protected]
F No. ROC(B)/Adj.Ord.454-12(3)(c)/Credii Technologies/Co.No.059191/2024 Date: 24.05.2024
ORDER OF ADJUDICATION OF PENALTY UNDER SECTION 454 OF COMPANIES ACT, 2013 READ WITH RULE 3 OF THE COMPANIES (ADJUDICATION OF PENALITES) RULES, 2014 FOR VIOLATION OF PROVISIONS OF SECTION 12(3)(c) OF THE COMPANIES ACT, 2013 AND RULES (AMENDED TIME TO TIME) FRAMED THEREIN BY CREDII TECHNOLOGIES PRIVATE LIMITED
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 powers conferred by section 454 of the Companies Act, 2013 (hereinafter referred to as Act) read with Companies (Adjudication of Penalties) Rules, 2014 for adjudging penalties under the provisions of Companies Act, 2013.
2. The company, Credii Technologies Private Limited (hereinafter referred to as Company), having CIN U72200KA2011PTC059191 was incorporated on 17.06.2011 and is presently registered under the jurisdiction of Registrar of Companies, Karnataka and the registered office of the company is situated at #13, MCHS Sector 4, HSR Layout, Bangalore 560102, Karnataka.
3. The company has filed this adjudication application on 15.11.2023 for violation of the provisions of section 12(3)(c) of the Act, the company has states that the company inadvertently failed to mention the telephone number, E-mail and website address, Corporate Identity Number, in the letterhead of the company resulting in non-compliance of the provisions of the section 12(3)(c) of the Act.
4. As per section 12(3)(c) of the Act, every company shall get its name, address of its registered office and the Corporate Identity Number along with telephone number, fax number, if any, e-mail and website addresses, if any, printed in all its business letters, billheads, letter papers, and in all its notices and other official publications.
5. As per section 12(8) of the Act, if any default is made in complying with the requirements 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 the default continues but not exceeding one lakh rupees.
6. Pursuant to the adjudication application filed by the company, Notice of hearing was sent on 24.01.2024 and physical hearing was held on 06.02.2024. It was attended by Mr. Biswajit Ghosh, practising company secretary who appeared on behalf of the company and directors and made his submissions.
7. Further, the company’s authorised representative Mr. Biswajit Ghosh, PCS, who attended the hearing has submitted a corrigendum to this office on 21.03.2024, with respect to the application filed under section 12(3)(c)) of the Act, wherein it has been mentioned that in the original application, the period of default were not mentioned. However, the period of default committed pertains from financial year 2011-12 to financial year 2019-20. Hence the corrigendum submitted in this regard has been taken on record and accordingly, the order has been modified by imposing penalty on company and its Managing Director, being the officer in default.
8. As the company is a subsidiary company, it does not fall under the definition of a small company as per the provisions of section 2(85) of the Act. Therefore, the provisions of imposing lesser penalty as per the section 446B of the Act shall not be applicable in this case.
9. Therefore, having considered the facts and circumstances of the case and the submissions made by the company / director / key managerial personnel through their authorised representative, in view of the above said violation of non-compliance of provisions of section 12(3)(c) of the Act for the period from financial year 2011-12 to financial year 201920, I do hereby impose penalty in the following manner on the company and all the officers in default during the period of offence committed:
| S. No. | Particulars | Maximum Penalty imposed as per Section 12(8) of the CA, 2013 (In Rs.) |
| 1 | Company | 1,00,000 |
| 2 | Mr. Vamshi Krishna Mokshagundam, Managing Director | 1,00,000 |
10. The company and its directors / key managerial personnel are hereby directed to pay the penalty amount as tabulated above within 90 days from the date of receipt of this Order and file Form INC-28 attaching a copy of the Order and payment challans. In case of directors, such penalty amount is required to be paid out of their own funds. The noticee shall pay the said amount of penalty online by using the website www.mca.gov.in (Miscellaneous head) specifying the details of this Order and the noticee who is paying the penalty.
11. Appeal, if any, against this Order may be filed with the Regional Director (South East Region), Hyderabad within a period of 60 days from the date of receipt of this Order in Form ADJ setting forth the grounds of appeal and shall be accompanies by a certified copy of this Order.
12. Your attention is also invited to section 454(8) of the Companies Act, 2013 in case of non-compliance of this Order wherein necessary penal action will be initiated under 454(8)(i) and (ii) of the Companies Act, 2013 against the company and directors / key managerial personnel without further notice in the matter.
13. The company is required to serve a copy of this Order on the director(s)/ officer(s)-in-default mentioned above in terms of provisions of section 20 of the Companies Act, 2013.
(Sanjay Sood)
Registrar of Companies, Karnataka
and Adjudicating Officer
