Acting under Section 454 of the Companies Act, 2013, the Adjudicating Officer at the Registrar of Companies, Jharkhand imposed penalties for violation of Section 137(3) due to non-filing of financial statements. The company failed to file e-Form AOC-4 for FY 2019–20, 2021–22, and 2022–23 within the prescribed 30 days from the AGM, as verified from MCA records. The company and its directors admitted the default, attributing the delay to financial constraints and COVID-19 disruptions. However, the Adjudicating Officer held that such reasons do not provide immunity or excuse for continued procedural non-compliance, particularly where the default persisted up to 2026. Accordingly, penalties were levied on the company and the officers in default in terms of Section 137(3), with directions to rectify the default and pay the penalties via the MCA e-Adjudication portal within 90 days. The order also sets out the appellate remedy before the Regional Director and warns of consequences for non-payment under Section 454(8), reinforcing strict adherence to statutory filing obligations under the Act administered by the Ministry of Corporate Affairs.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Ranchi
ROC-cum-Official Liquidator, Ministry Of Corporate Affairs, Mangal Tower, 4th floor, Old Hazaribagh Road, Near Kanta Toli Chowk, Ranchi, Jharkhand, India, 834001
Phone: 0651-2531811,2531401
E-mail: roc.ranchi@mca.gov.in
Order ID: PO/ADJ/02-2026/RN/01593 | Dated: 06/02/2026
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 137(3) 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 THAKUR MEDIAWORKS PRIVATE LIMITED [herein after known as Company] bearing CIN U22219JH2019PTC013529, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at HOUSE NO M/5 HARMU HOUSING COLONY NA RANCHI RANCHI JHARKHAND INDIA 834002
Individual details:
In the matter relating to SHASHANK SHEKHAR _____________
In the matter relating to MAYANK SHEKHAR ______________
C. Provisions of the Act:
(3) If a company fails to file the copy of the financial statements under sub-section (1) or sub-section (2), as the case may be, before the expiry of the period specified therein, the company shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day during which such failure continues, subject to a maximum of two lakh rupees, and the managing director and the Chief Financial Officer of the company, if any, and, in the absence of the managing director and the Chief Financial Officer, any other director who is charged by the Board with the responsibility of complying with the provisions of this section, and, in the absence of any such director, all the directors of the company, shall be shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with further penalty of one hundred rupees for each day after the first during which such failure continues, subject to a maximum of fifty thousand rupees.
D. Facts about the case:
1. Default committed by the officers in default/noticee – As per Section 137 of the Companies Act, 2013, a copy of the financial statement, including consolidated financial statement, if any, along with all the documents which are required to be or attached to such financial statements [e- form AOC-4] under this Act, duly adopted at the annual general meeting of the company, shall be filed with the Registrar within thirty days of the date of annual general meeting in such manner, with such fees or additional fees as may be prescribed.
After examination of the records available at MCA Portal, the undersigned found that the company has not filed e – form AOC-4 with MCA for FY 2019-20, 2021-22 & 2022-23.
Hence, the company has violated the provision of section 137 of the Companies Act, 2013.
Hence, the company and its officers-in-default of the company namely (i) Shashank Shekhar and (ii) Mayank Shekhar are liable for penal action under 137(3) of the Companies Act, 2013 for the said years.
2.
E. Order:
1. The company and its officers in their reply No TMWPL/01-26/01 dated 02/01/26 have admitted the default stating that they could not file the financials due to its inability to arrange funds required for the statutory filings. They say that this is due to COVID 19. Till 2026 the circulars quoted by the company/officers don’t give them immunity for not filing the financials. This is not a valid excuse for this procedural default as it is the statutory responsibility of the company/officers to file the same before ROC. Further as per records the company has not filed requisite AOC 4 , till date.
Therefore penalty is levied against the company/officers in terms of Sec 137(3) 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 | THAKUR MEDIAWORKS PRIVATE LIMITED having CIN as U22219JH2019P TC013529 | 43600 | 0 | 200000 | |
| 2 | SHASHANK SHEKHAR having DIN as 06671517 | 25000 | 0 | 50000 | |
| 3 | MAYANK SHEKHAR having DIN as 06671535 | 25000 | 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.
Himanshu Shekhar,
Registrar of Companies
ROC Jharkhand
