The Registrar of Companies, Chennai, passed an adjudication order under Section 454 of the Companies Act, 2013 against Pattukkottai Benefit Fund Nidhi Limited for violation of Section 117(1) read with Section 179(3)(g) of the Act due to delayed filing of Form MGT-14 relating to approval of financial statements and Board’s report for the financial year ending 31.03.2023. The Ministry of Corporate Affairs had rejected the company’s NDH-4 application after observing non-compliance with filing requirements. The company eventually filed Form MGT-14 on 20.12.2024 with a delay of 445 days. In response to the show cause notice, the company stated that the delay occurred due to inadvertent administrative oversight and caused no prejudice to stakeholders. However, neither the directors nor authorised representatives attended the scheduled e-hearing, leading to ex-parte proceedings. The adjudicating authority held that the company violated Section 117(1) and imposed a penalty of Rs.54,500 on the company and Rs.50,000 each on six directors under Section 117(2), directing payment within 90 days.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Chennai
Registrar Of Companies, Block No.6,B Wing 2nd Floor, Shastri Bhawan 26, Haddows Road, Chennai, Tamil Nadu, India, 600034
Phone: 044-28276652/28276654
E-mail: roc.chennai@mca.gov.in
Order ID: PO/ADJ/04-2026/CN/02096 | Dated: 14/05/2026
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (THE ACT’) FOR VIOLATION OF SECTION 117(2) OF THE COMPANIES ACT, 2013.
A. Appointment of Adjudicating Officer:
Ministry of Corporate Affairs vide its Gazette notification number S.O. 698(E) dated 10/02/2026 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 PATTUKKOTTAI BENEFIT FUND NIDHI LIMITED [herein after known as Company] bearing CIN U65991TN2006PLC061773, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at 86/6 CHINNAIA STREET NA PATTUKOTTAI TAMIL NADU INDIA 614601
Individual details:
In the matter relating to ANANDARAJAN SARAVANAN ___________
In the matter relating to BALASUBRAMANIAN ADAICKALAM ___________
In the matter relating to . GOVINDARAJAN ___________
In the matter relating to SELVAMURUGAN BALAKRISHNAN ___________
In the matter relating to SIVASANKARAN KATHAMUTHU MUNUSAMY ___________
In the matter relating to GUNASEKARAN THILAGAVATHI ___________
C. Provisions of the Act:
(2) If any company fails to file the resolution or the agreement under sub-section (1) before the expiry of the period specified therein, such 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 after the first during which such failure continues, subject to a maximum of two lakh rupees and every officer of the company who is in default including liquidator of the company, if any, 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 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 – The Ministry vide letter dated 09.07.2024 has rejected the form NDH-4 (Form for filing application for declaration as Nidhi and for updation of Status by Nidhi) filed by the company M/s. PATTUKKOTTAI BENEFITY FUND NIDHI LIMITED (vide SRN: R97055370 date. 09.02.2021). Whereas, it was mentioned ?it is observed that the company has not filed form MGT-14 for approval of accounts for the financial year ending 31.03.2023 which is in non-Compliance of section 179(3) of companies Act, 2013.?
Section Section 117(1) and (3)(g) and section 179(3)(g) read as follows;
Section 117. Resolutions and Agreements to be Filed
(1) A copy of every resolution or any agreement, in respect of matters specified in sub-section (3) together with the explanatory statement under section 102, if any, annexed to the notice calling the meeting in which the resolution is proposed, shall be filed with the Registrar within [thirty days] of the passing or making thereof in such manner and with such fees as may be prescribed 8[Omitted]:
Provided that the copy of every resolution which has the effect of altering the articles and the copy of every agreement referred to in sub-section (3) shall be embodied in or annexed to every copy of the articles issued after passing of the resolution or making of the agreement.
(3) The provisions of this section shall apply to?
(g) Resolutions passed in pursuance of sub-section (3) of section 179 Section 179. Powers of Board
(3) The Board of Directors of a company shall exercise the following powers on behalf of the company by means of resolutions passed at meetings of the Board, namely: ?
(g) To approve financial statement and the Board?s report;?
On perusal of the said rejection letter and relevant forms, it is noticed that the subject Company has filed Form MGT-14 for approval of accounts for Financial year ending 31.03.2023 vide SRN AB2217965 on 20.12.2024 with a delay of 445 days, which violates section 117(1) of the Companies Act, 2013. Hence the company and its officers in default are liable for penalty under section 117(2) of the Companies Act, 2013.
2. The Adjudicating Authority has issued notice for e-Adjudication vide SCN/ADJ/01-2026/CN/03790 on 03.03.2026. The Company vide letter dated 09.03.2026 submitted that the delay occurred due to an inadvertent administrative oversight during the compliance process and was not intentional and that it did not result in any loss or prejudice to members, creditors, regulators or the public.
Further the Adjudicating Authority has issued notice for e-hearing on 23.03.2026 for e-hearing scheduled on 25.03.2026. Neither the Directors nor their authorized representatives attended the e-hearing scheduled on 25.03.2026. Therefore, as per Rule 3(8) of the Companies (Adjudication of Penalties) Rules 2014, the matter is being proceeded with in the absence of such person (ex-parte).
E. Order:
1. The Company M/s. PATTUKKOTTAI BENEFIT FUND NIDHI LIMITED being a Nidhi Company must file Form MGT-14 for Board resolutions passed under Section 179(3)(g) for approval of Financial Statement and the Board’s Report within 30 days of passing such resolution. However, the Company has filed Form MGT-14 for approval of accounts and Directors report for financial year ending 31.03.2023 vide SRN AB2217965 on 20.12.2024 with a delay of 445 days. In this regard, the Company has violated Section 179(3)(g) read with Section 117 of Companies Act, 2013 and therefore, the Company and the officers in default are liable for penalty under Section 117(2) 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 | PATTUKKOTTAI BENEFIT FUND NIDHI LIMITED having CIN as U65991TN2006P LC061773 | 54500 | 0 | 200000 | |
| 2 | ANANDARAJAN SARAVANAN having DIN as 07615737 | 50000 | 0 | 50000 | |
| 3 | BALASUBRAMA NIAN ADAICKALAM having DIN as 07615743 | 50000 | 0 | 50000 | |
| 4 | . GOVINDARAJAN having DIN as 07615745 | 50000 | 0 | 50000 | |
| 5 | SELVAMURUGA N BALAKRISHNAN having DIN as 07615748 | 50000 | 0 | 50000 | |
| 6 | SIVASANKARAN KATHAMUTHU MUNUSAMY having DIN as 07615752 | 50000 | 0 | 50000 | |
| 7 | GUNASEKARAN THILAGAVATHI having DIN as 07615754 | 50000 | 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 Chennai 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.
B SRIKUMAR,
Registrar of Companies
ROC Chennai
