The Registrar of Companies (ROC) Mumbai, under the Ministry of Corporate Affairs, issued an adjudication order imposing penalties on Satyug Gold Private Limited and its directors for failing to maintain a registered office as required under Section 12(1) of the Companies Act, 2013. Despite prior directions from the Director General of Corporate Affairs to comply and subsequent show-cause notices, the company did not provide evidence of a functional registered office, and notices sent to the registered address were returned undelivered. No e-hearing was requested, and the company’s status reflected ongoing liquidation under the Insolvency and Bankruptcy Code, 2016. Considering the default lasted 183 days, the adjudicating officer imposed the maximum penalty of ₹1,00,000 each on the company and its two directors under Section 12(8) of the Act. The officers are required to pay the penalty from personal funds within 90 days via the e-adjudication portal, with the option to appeal to the Regional Director 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/12-2025/MB/01013 Dated: 02/12/2025
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 SATYUG GOLD PRIVATE LIMITED [herein after known as Company] bearing CIN U36996MH2013PTC239996, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at 4TH FLOOR, C WING, SAHAR CLASSIQUE, OPP. P & T COLONY, SAHAR ROAD, ANDHERI ( E) NA MUMBAI MUMBAI CITY MAHARASHTRA INDIA 400099
Individual details:
In the matter relating to GANPATI SHANKAR CHOUDHARY ——–
In the matter relating to SHAIJU SUKUMARAN NAIR ——–
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 – Whereas the office of the Director General (Corporate Affairs) (hereinafter referred to as DGCoA) vide letter no. CL-II-04/14/2025-O/o DGCoA-MCA dated 12.02.2025 directed to wind up the Company after complying the procedure laid down of the Companies Act, 2013 (hereinafter referred to as the Act) for non-filing of Financial Statements and Annual Return.
Whereas pursuant to the directions of the DGCoA, the Office of Regional Director (WR) issued Show Cause Notice on 10.03.2025 under Section 271 of the Act to the Company and its two directors namely Mr Shaiju Sukumaran Nair and Mr Ganpati Shankar Choudhary. The notice addressed to the Company was sent at its registered office address that is 4th Floor, C Wing, Sahar Classique, Opp. P & T Colony, Sahar Road, Andheri (, E), NA, Mumbai, Mumbai City, 400099. However, the said notice was returned undelivered on 13.03.2025 with postal remark, Left.
Whereas the Section 12(1) of the Act reads as under:
(1) A company shall, within thirty days of its incorporation and at all times thereafter, have a registered office capable of receiving and acknowledging all communications and notices as may be addressed to it.
Thus, the Adjudicating Officer has a reasonable cause to believe that the Company is not maintaining its registered office in contravention of Section 12(1) of the Act.
2. No E-hearing was requested by the Noticees on E-adjudication module and the Adjudicating Officer is also of the view that no E-hearing is requested in the instant case.
E. Order:
1. A.A Show Cause notice bearing ID: SCN/ADJ/10-2025/MB/02752 dated 15.10.2025 was issued to Company and its Officers in default (hereinafter referred to as the noticees) under Section 454 read with Section 12(8) for default under the provisions of section 12(1) of the Act with respect to non-maintenance of registered office premises of the Company.
B. No reply was received to the aforesaid show-cause notice on the E-adjudication portal. Further, the Applicants also submitted a reply vide a physical letter dated 05.11.2025. However, the same is not taken on record in pursuance to Rule 3A (1) of the Companies (Adjudication of Penalties) Rules, 2014.
C. No E-hearing was requested by the Noticees on E-adjudication module and the Adjudicating Officer is also of the view that no E-hearing is requested in the instant case.
D. Based on the instructions of the Director General (Corporate Affairs) (hereinafter referred to as DGCoA) dated 12.02.2025 as stated hereinabove at para D(1), the notice sent by the Regional Director (Western Region) dated 10.03.2025 to the Company at its registered office was returned undelivered on 13.03.2025 with postal remark LEFT. The Company has failed to reply to the Show Cause Notice dated 15.10.2025 or produce any evidence with respect to maintenance of its Registered office during the relevant period. Thus, the Company has failed to maintain its registered office at the aforementioned registered office premises in compliance with Section 12(1) of the Act.
E. On perusal of the e-filing of the Company on the MCA-21, it is observed that the status of the Company is showing as under liquidation and the Company has appointed Mr. Vallabh Narayandas Sawana as a liquidator of the Company during EGM held on 17.07.2025 to initiate proceedings under Section 59 of the Insolvency and Bankruptcy Code, 2016 before the Honourable NCLT, Mumbai Bench. Company has filed E-form MGT-14 filed for the same vide SRN AB6140926 which was approved on 11.09.2025.
F. The Subject Company does not fall within the definition of a Small Company under the provisions of Section 2(85) of the Act as it has a subsidiary called Auptag Refinery Private Limited. Therefore, the provisions of Section 446B of the Act shall not be applicable to the Company and its Officer in default.
G. Accordingly, the Company and its Officer in default shall be liable to a penalty of Rs. 1000/- per day for continued default of 183 days that is from 13.03.2025 (date on which the notice was returned undelivered) till 17.07.2025 (date on which the resolution for appointment of the Liquidator under Section 59 of IBC was passed). Thus, the Company and its officers in default are liable for maximum penalty of Rs. 1,00,000/- (Rupees One Lakhs only) each under the provisions of Section 12(8) of the Act.
H. Now, in exercise of the powers conferred on the Adjudicating Officer vide Notification dated 24th March 2015, having considered the facts and circumstances of the case, I hereby impose penalty of Rs. 1,00,000/- (Rupees One Lakhs only) each on the Company and its Officers in default namely Mr.
Shaiju Sukumaran Nair (DIN: 09305551), Mr. Ganpati Shankar Choudhary, (DIN: 07979103) under the penal provisions of Section 12(8) of the Act for default of provisions of Section 12(1) 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 | SATYUG GOLD PRIVATE LIMITED having CIN as U36996MH2013P TC239996 | NA | 100000 | 0 | 100000 |
| 2 | GANPATI SHANKAR CHOUDHARY having DIN as 07979103 | NA | 100000 | 0 | 100000 |
| 3 | SHAIJU SUKUMARAN NAIR having DIN as 09305551 | NA | 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 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
