The Registrar of Companies, Patna, passed an adjudication order under section 454 of the Companies Act, 2013 imposing penalties for failure to register a charge relating to a secured loan, in violation of section 78, attracting penal consequences under section 86. The company had disclosed a secured loan in its financial statements for FY 2020–21 but did not register the charge with the ROC. Despite claiming that the loan amount was small, subsequently repaid, and that the lapse was unintentional and a first-time default amid financial distress, the explanation was found unsatisfactory. No appearance was made at the scheduled hearing. Holding that non-registration of charge is a continuing statutory default, the ROC imposed a penalty of ₹5 lakh on the company and ₹50,000 each on the officers in default, payable from personal sources, with directions to rectify the default and pay penalties within 90 days. The order reiterates strict compliance with charge registration requirements and outlines appeal and enforcement consequences.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Patna
Office of Registrar of Companies, Bihar -cum- Official Liquidator attached to Patna High Court,Ministry of Corporate Affairs, Government of India, Maurya Lok Complex, Block “A”, 4th Floor, Dak Bungalow Road, Patna, Bihar, India, 800001
Phone: 0612-2950121
E-mail: roc.patna@mca.gov.in
Order ID: PO/ADJ/12-2025/PT/01235 Dated: 17/12/2025
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 86 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 TILAK PROFICIENT NIDHI LIMITED [herein after known as Company] bearing CIN U65100BR2008PLC014086, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at PROFICIENT COMPLEX, PATEL CHOWK GAUSHALA ROAD NA KHAGARIA BIHAR INDIA 851204
Individual details:
In the matter relating to SURESH KUMAR BHAKTA ——-
In the matter relating to PRASUN KUMAR PANKAJ ——-
In the matter relating to KIRAN PANKAJ ——-
In the matter relating to SHARMILA KUMARI ——-
C. Provisions of the Act:
If any company is in default in complying with any of the provisions of this Chapter, the company shall be liable to a penalty of five 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 – The company has shown the Secured Loan in the Financial Statement filed for the financial year 2020-21 but has failed to register the charge till date. Hence the company has contravened the section 78 of the Companies Act, 2013.
2. As per MCA portal, the company has shown the Secured Loan in the Financial Statement filed for the financial year 202021 but has failed to register the charge till date. Hence the company has contravened section 78 of the Companies Act, 2013. Therefore, this office has issued show cause notice for default under section 78 of the Companies Act, 2013 on 08.07.2025.
The company has submitted its reply vide letter dated 18.07.2025 inter alia stating as…… the loan as at 31.03.2021 remained outstanding of Rs. 5,88,449.00 only which was also repaid fully in the FY 2021-22 and there was no bank loan outstanding as at 31.03.2022. The Company has always been compliant with applicable laws and has never defaulted in statutory filings or regulatory obligations, including under the Companies Act, 2013. The omission was unintentional and has not caused any loss or prejudice to shareholders, creditors, or other stakeholders. The default, if any, is a first-time lapse, and the Company undertakes to ensure strict compliance in the future. The company at present is in great financial distress due to the rejection of Form NDH- 4, whereby the company has to stop its Nidhi business and its working only to recover all the loans and repay the deposits taken before the date of rejection of Form NDH-4
The reply submitted by the company is not satisfactory.
Further, hearing was scheduled to be held on 10.12.2025. However, on the date of hearing, none appeared for e-hearing.
E. Order:
1. As the company has failed to register the charge till date, the company and its directors/officers in default are liable for penalty as per section 86 of the Companies Act, 2013.
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 | TILAK PROFICIENT NIDHI LIMITED having CIN as U65100BR2008P LC014086 | 500000 | 0 | 500000 | |
| 2 | SURESH KUMAR BHAKTA having DIN as 00172091 | 50000 | 0 | 50000 | |
| 3 | PRASUN KUMAR PANKAJ having DIN as 00198045 | 50000 | 0 | 50000 | |
| 4 | KIRAN PANKAJ having DIN as
08282532 |
50000 | 0 | 50000 | |
| 5 | SHARMILA KUMARI having DIN as 08282545 | 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 Kolkata 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.
Dr Rameshkumar,
Registrar of Companies
ROC Patna
