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Directors Imprisoned/penalized under Companies Act, 1956
Penalty on Directors of Companies
Press Release dated 24-07-2015
Information pertaining to imprisonment/penalization of directors of companies having turnover of more than Rs 50 crore annually, in the year 2014-15 is as under:
S. No. |
Name of Company |
Name of the Directors |
Section of Companies Act, 1956 violated |
Penalty levied |
Status of the case |
1. |
M/s XRBIA DEVELOPERS LIMITED |
Dilip Ramkrishna Khapre,Manoj Kumar Murlidhar Kamble |
159, 220(3) |
Total Rs.3000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) |
Action Completed |
2 |
M/s BORACHEM INDUSTRIES LIMITED |
Suresh Kanayalal Raka, Ashok Namdevrao Rukari,Omprakash Pattnayak |
159, 220(3) |
Total Rs.4000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) |
Action Completed |
3 |
M/s LI TAKA PHARMACEUTICALS LIMITED |
Pravin Kumar Kantilal Mutha,Suresh Kanayalal Raka, Cajetan Valerian Dsouza,Omprakash attanayak |
159, 220(3) |
Total Rs.5000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) |
Action Completed |
4 |
M/s SIDHANATH SUGAR MILLS LIMITED |
Dilip Bramhadeo Mane |
220(3) |
Total Rs.1000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in this case) |
Action Completed |
5 |
M/s PEGASUS HEALTHCARE LIMITED |
Rajendra Chhotubahi Kapadia, Suresh Kanayalal Raka,Cajetan Valerian Dsouza |
159, 220(3) |
Total Rs.4000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) |
Action Completed |
6 |
M/s ATIBAR INDUSTRIES COMPANY LTD |
Shri Samir Kumar Sarawgi, Managing Director,Shri Bibhu Prasad Bhoi, company secretary |
220 |
Total Rs.4500/- fine (Rs1500/- fine imposed on each Managing Director and Company Secretary apart from fine on the company) |
Action Completed |
7 |
M/s SCL STEEL CORPORATION LIMITED |
Avijit Chakraborty,Manas Kumar Dan,Prasanta Chatterjee,Joy deb Biswas |
56(3), 60B/629A, 67 (1) & (2) /629A and 68 |
Total Rs.1,95,000/- fine (Rs.39,000 fine imposed on each Director apart from fine on the Company) |
Action Completed |
8 |
M/s MAN STRUCTURALS PRIVATE LIMITED |
Kishore P. Rungta, Managing Director |
58A (1) & 58A(2) read with 58A(6) |
Fine of Rs.1,89,31,294/-, Rs.76,74,525/-, Rs.12,59,131/- for the years 1996-97, 1997-98, 1998-99 respectively imposed on the company. Further, the Managing Director of the company was convicted for a period of two year simple imprisonment and a fine of Rs. 5000/- was imposed on him |
The Company and Managing Director have filed an appeal before the Appellate Court which is pending. |
9 |
LAKHANI INDIA LIMITED |
Amarjeet Kalra Whole Time Director, Arun Virmani, Company Secretary |
159/220 |
Total Rs.20000/- fine(Rs.10000 each on whole time Director and Secretary) |
Case in respect of one of the directors, Shri Parmeshwar Dyal Lakhani, has been consigned to record by the Court as the Court has declared him a Proclaimed Offender. |
10 |
SATYAM COMPUTER SERVICES LTD. |
Ramalinga Raju,B. Ramaraju,V. Srinivas |
309(1) & 628 |
Fine of Rs. 5 lakh each and in default of paying fine, simple imprisonment of 6 months each |
All the four directors convicted have gone in appeal. |
Ramalinga Raju,B. Ramaraju,Srinivas, Mynampati |
211(7) & 628 |
Simple Imprisonment of 6 months for each accused and Fine of Rs. 10,000, and in default of paying fine, simple imprisonment of 1 month each |
|||
Ramalinga Raju,B. Ramaraju,Srinivas,Mynampati |
211 & 628 |
Simple Imprisonment of 6 months for each accused and Fine of Rs. 10,000, and in default of paying fine, simple imprisonment of 1 month each |
|||
Ramalinga Raju,B. Ramaraju,Mynampati |
217 (2a) & 628 |
Simple Imprisonment of 6 months for each accused and Fine of Rs. 20,000/- and in default of paying fine, simple imprisonment of 1 month each |
|||
Ramalinga Raju,B. Ramaraju,Srinivas |
211 (1) & (2) & 628 |
Simple Imprisonment of 6 months for each accused and Fine of Rs. 10,000/- and in default of paying fine, simple imprisonment of 1 month each. |
|||
Ramalinga Raju,B. Ramaraju,Mynampati |
220 (1) & 628 |
Fine of Rs. 5 lakh and in default of paying fine, simple imprisonment of 6 month each. |
|||
11. |
JVG GROUP COMPANIES |
The matter is still pending against Mrs. Namrata Krishan, Director who has been declared as Proclaimed offender by the court. Another Director Sh. D K Aggarwal is no more. Proceedings against another Director Sh. Vijay Kumar Sharma have been dropped. |
|||
JVG HOLDINGS |
Upender Singh |
159 r/w 220 |
Fine of Rs.10, 000 |
||
S.L. Maloo |
217 (5) |
Fine of Rs.10, 000 |
|||
JVG HOTELS |
S.L. Maloo |
217 (5) |
Fine of Rs.10, 000 |
||
JVG STEEL |
S.L. Maloo |
215 |
Fine of Rs.10, 000 |
||
JVG HOUSING FINANCE |
S.L. Maloo |
159/220 (1) |
Fine of Rs.10, 000 for non-filing of balance sheet as at 31.3.2007 |
||
S.L. Maloo |
159/220 (1) |
Fine of Rs10, 000 for non-filing of balance sheet as at 31.3.2006. |
This information was given by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today
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