It is observed that the company has not filed its proceedings of annual general meeting alongwith the report of the Board of Directors, the audited balance sheet and profit and loss for the financial years 2015-2016 to till date per the MCA portal. Hence, this office has issued show cause notice for default under section 378ZA of the Companies Act, 2013 vide No. ROC/PAT/SCN/Sec.378ZA/22965/2300-2301 dated 20.12.2022.
Whereas, this office has not received any reply from the company and its directors. Hence, it appears that the Section 378ZA(10) of the Companies Act, 2013 has been contravened by the company and its directors/officers and therefore they are liable for penalty u/s. 450 of Companies Act 2013.
As per Section 378ZA(10) of the Companies Act, 2013: The proceedings of every annual general meeting alongwith the report of the Board of Directors, the audited balance-sheet and the profit and loss account shall be filed with the Registrar within sixty days of the date on which the annual general meeting is held, with an annual return alongwith the filing fees as applicable under the Act.
Having considered the facts and circumstances of the case and after taking into account the provisions of Rule-11 of Companies (Adjudication of Penalties) Rules, 2014 (as amended), a penalty of Rs. 5,16,150 (Five Lakhs Sixteen Thousand One Hundred and Fifity only) imposed on the company and Rs.175,000 (One Lakh Seventy Five Thousand only) on Shri Chandra Banik (Managing Director) of the company as per Table below under section 450 of the Act r/ w. section 446B of the Companies Act, 2013 for failure in compliance of section 378ZA(10) of the Companies Act, 2013.
Government of India
Ministry Of Corporate Affairs
Office of the Registrar of Companies, Bihar-Cum-Official Liquidator, High Court, Patna
4th Floor, ‘A’ Wing, Maurya Lok Complex
Dakbunglow Road, Patna-800001
Order No. ROC/PAT/Sec. 378ZA/22965/2571-2573 Dated: 06.02.2023
Order for penalty for violation of section 378ZA(10) of the Companies Act, 2013
In the matter of
M/S. KRISHICOM MSMPCPPPS PRODUCER COMPANY LIMITED,
CIN: U01403BR2014PTCO22965
Appointment of Adjudication Officer:–
1. The 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 under 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.
Company:–
2. Whereas, Company M/ s. Krishicom MSMPCPPPS Producer Company Limited, CIN: U01403BR2014PTCO22965 (herein after known as Company) is a registered company with this office under the provisions of the companies Act, 2013/1956 (or previous Acts in force, as applicable) having its registered office situated at Tilak Nagar, Katira, In Front of Shivam Nurshing Home, Arrah, Bhojpur, Bihar, 802301, India as per MCA website.
Facts about the case:–
3. Whereas, it is observed that the company has not filed its proceedings of annual general meeting alongwith the report of the Board of Directors, the audited balance sheet and profit and loss for the financial years 2015-2016 to till date per the MCA portal. Hence, this office has issued show cause notice for default under section 378ZA of the Companies Act, 2013 vide No. ROC/PAT/SCN/Sec.378ZA/22965/2300-2301 dated 20.12.2022.
4. Whereas, this office has not received any reply from the company and its directors. Hence, it appears that the Section 378ZA(10) of the Companies Act, 2013 has been contravened by the company and its directors/officers and therefore they are liable for penalty u/s. 450 of Companies Act 2013.
5. Sections 378ZA(10), 450 are reproduced as under:-
As per Section 378ZA(10) of the Companies Act, 2013: The proceedings of every annual general meeting alongwith the report of the Board of Directors, the audited balance-sheet and the profit and loss account shall be filed with the Registrar within sixty days of the date on which the annual general meeting is held, with an annual return alongwith the filing fees as applicable under the Act.
Section 450: If a company or any officer of a company or any other person contravenes any of the provisions of this Act or the rules made thereunder, or any condition, limitation or restriction subject to which any approval, sanction, consent, confirmation, recognition, direction or exemption in relation to any matter has been accorded, given or granted, and for which no penalty or punishment is provided elsewhere in this Act, the company and every officer of the company who is in default or such other person shall be liable to a penalty of ten thousand rupees, and in case of continuing contravention, with a further penalty of one thousand rupees for each day after the first during which the contravention continues, subject to a maximum of two lakh rupees in case of a company and fifty thousand rupees in case of an officer who is in default or any other person.
6. Further Section 446B states that “if penalty is payable for non-compliance of any of the provisions of this Act by a One Person Company, small company, start-up company or Producer Company, or by any of its officer in default, or any other person in respect of such company, then such company, its officer in default or any other person, as the case may be, shall be liable to a penalty which shall not be more than one-half of the penalty specified in such provisions subject to a maximum of two lakh rupees in case of a company and one lakh rupees in case of an officer who is in default or any other person, as the case may be”.
ORDER
7. Having considered the facts and circumstances of the case and after taking into account the provisions of Rule-11 of Companies (Adjudication of Penalties) Rules, 2014 (as amended), I hereby impose a penalty of Rs. 5,16,150 (Five Lakhs Sixteen Thousand One Hundred and Fifity only) on the company and Rs.175,000 (One Lakh Seventy Five Thousand only) on Shri Chandra Banik (Managing Director) of the company as per Table below under section 450 of the Act r/ w. section 446B of the Companies Act, 2013 for failure in compliance of section 378ZA(10) of the Companies Act, 2013.
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[*No of days have been calculated from 30.11.2015 till 06.02.2023 (date of order for FY 2014-2015 and so on
8. The noticee shall pay the amount of penalty individually for the company and its directors (out of own pocket) by way of e-payment (available on Ministry website www.mca.gov.in) under “Pay miscellaneous fees” category in MCA fee and payment Services within 90 (ninety) days of this order.
The Challan/SRN generated after payment of penalty through online mode shall be forwarded to this office.
9. Appeal against this order may be filled in writing with the Regional Director (ER), Ministry of Corporate Affairs, Kolkata within a period of 60 (sixty) days from the date of receipt of this order, in Form ADJ (available on Ministry website www.mca.gov.in) setting forth 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}
10. Your attention is also invited to section 454(8) of the Act in the event of non-compliance of this order.
(Aparajit Barua)
Adjudicating Officer &
Registrar of Companies-Cum-
Official Liquidator, Patna
