The company and its officers were penalized under Section 12(8) of the Companies Act, 2013 for failing to maintain a registered office at the recorded address. Multiple official notices were returned undelivered, and physical verification confirmed the office was non-functional. The adjudicating officer imposed the maximum penalty of ₹1 lakh each on the company and its managing director, highlighting that directors are personally liable for statutory non-compliance.
This Order, issued by the Registrar of Companies (ROC) Cuttack, acting as the Adjudicating Officer, addresses a violation of Section 12 of the Companies Act, 2013, concerning the maintenance of a registered office. The case involves DP Financial Corporation of India Limited and its Director, Debasis Panda. The proceedings commenced after letters sent by the ROC office to the company’s recorded address were repeatedly returned with the postal remark ‘addressee not located’. This prompted a physical verification of the registered office on March 5, 2025.
The physical verification report confirmed that the company was not functioning at the recorded address, and no company board was visible on the premises. The house owner informed the inspector that the company had rented the premises but had vacated it over six years ago. This evidence established a violation of Section 12, which mandates a company to maintain a registered office capable of receiving and acknowledging all communications. Following this, a Show Cause Notice (SCN) was issued on August 29, 2025, to both the company and its Director via email and speed post. Neither the company nor the Director submitted a reply to the SCN by the date of the Order
Considering the established facts and the lack of response, the Adjudicating Officer determined that the company and its officers had violated Section 12 of the Act. Consequently, a penalty was imposed under Section 12(8) of the Act. The penalty amount is 1,00,000 for the company, DP Financial Corporation of India Limited, and 1,00,000 for the officer in default, Debasis Panda, totaling 2,00,000. The company and the officer are required to rectify the default and pay the penalty within 90 days of receiving the order, with the officer’s penalty to be paid from personal funds. The order also informs the parties of the appeal process to the Regional Director, RD Kolkata, within sixty days, and references the penal consequences for non-payment as per Section 454(8) of the Act.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Cuttack
ROC-cum-Official Liquidator, Ministry Of Corporate Affairs, Corporate Bhawan, 2nd & 3rd Floor, Plot No-9(P), Sector-1,CDA,
Cuttack, Odisha, India, 753014
Phone: 0671-2366952
E-mail: roc.cuttack@mca.gov.in
Order ID: PO/ADJ/10-2025/CT/00780 Dated: 15/10/2025
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 12(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 DP FINANCIAL CORPORATION OF INDIA LIMITED [herein after known as Company] bearing CIN U65999OR2010PLC012736, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at PLOT NO-1958/4083, FIRST FLOOR CHINTAMANISWAR AREA NA BHUBANESWAR KHORDHA ORISSA INDIA 751006
Individual details:
In the matter relating to DEBASIS PANDA [herein after known as individual] having DIN 02820448 and having its address at ________
C. Provisions 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
D. Facts about the case:
1. Default committed by the officers in default/noticee – Letter No.ROC/Compt/205/12736/2024/2001 dated 22.10.2024 was issued to the company by this office, the same has been returned back with postal remark ‘addressee not located’. Another letter No.ROC/Compt/205/12736/2024/2060(4) dated 11.11..2024 was issued to the company and its Directors/Officers, but the same also has been returned back with postal remark ‘addressee not located’. Further, Shri Trinath Panigrahi, JTA of this office was directed to verify the Registered office of the company physically vide Order dated 28.01.2025 and pursuant to the same, Shri Trinath Panigrahi, JTA of this office has submitted his Report dated 05.03.2025, wherein he has stated that he has visited Registered Office of the company at recorded address and found that the aforesaid company is not
functioning there and no board of the company was found on said premises. On enquiry by Shri Panigrahi, the owner of the house informed that the company had taken the house on rental basis and the persons taken the house on rent has left the premises for more than 6 years ago.
It is evident from the above stated facts that the company is not maintaining its Registered Office at recorded address, thereby violated the provisions of Section 12 of the Companies Act, 2013.
2. A.
E. Order:
1. Facts about the case : Letter No.ROC/Compt/205/12736/2024/2001 dated 22.10.2024 was issued to the company by this office, the same has been returned back with postal remark ‘addressee not located’. Another letter No.ROC/Compt/205/12736/2024/2060(4) dated 11.11.2024 was issued to the company and its Directors/Officers, but the same also has been returned back with postal remark ‘addressee not located’. Further, Shri Trinath Panigrahi, JTA of this office was directed to verify the Registered office of the company physically vide Order dated 28.01.2025 and pursuant to the same, Shri Trinath Panigrahi, JTA of this office has submitted his Report dated 05.03.2025, wherein he has stated that he has visited Registered Office of the company at recorded address and found that the aforesaid company is not
functioning there and no board of the company was found on said premises. On enquiry by Shri Panigrahi, the owner of the house informed that the company had taken the house on rental basis and the persons taken the house on rent has left the premises for more than 6 years ago.
It is evident from the above stated facts that the company is not maintaining its Registered Office at recorded address, thereby violated the provisions of Section 12 of the Companies Act, 2013.
SCN : The Show Cause Notice (SCN) was issued on 29.08.2025, through e-mail as well as Speed Post, to (1) the company ? DP Financial Corporation of India Limited, (2) Shri Debasis Panda, Managing Director.
Reply of the Company : In response to the SCN dated 29.08.2025, the company or its Managing Directors has not furnished any reply till date.
Order : Having considered the facts & circumstances and documentary evidence, the A.O. is of the view that the company has violated the provision of Section 12 of the Companies Act, 2013. Hence, the A.O. do hereby impose penalty upon the company and its Officers for the relevant period under the provisions of Section 12(8) of the Companies Act, 2013 for violation of Section 12 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 | DP FINANCIAL CORPORATION OF INDIA LIMITED having CIN as U65999OR2010P LC012736 | 100000 | 0 | 100000 | |
| 2 | DEBASIS PANDA having DIN as 02820448 | 100000 | 0 | 100000 |
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.
Sudhir Kapoor,
Registrar of Companies
ROC Cuttack
