Penalty Imposed for Delay in Filing AGM Report Under Companies Act

The Registrar of Companies, Coimbatore passed an adjudication order dated 6 January 2026 imposing penalties under Section 454 of the Companies Act, 2013 for violation of Section 121(3) relating to delayed filing of Form MGT-15. The company had conducted its Annual General Meeting on 30 September 2024 but filed the required report on 12 November 2024, resulting in a delay of 13 days beyond the statutory deadline. As the default was admitted, a penalty of ₹1,06,500 was levied on the company, comprising a base penalty and per-day delay charges. Additionally, penalties of ₹31,500 each were imposed on the Managing Director, Whole-Time Director, Chief Financial Officer, and Company Secretary as officers in default. Independent directors were held not liable. The order directs payment through the MCA e-adjudication portal within 90 days and provides a statutory right of appeal to the Regional Director.

GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Coimbatore
Registrar Of Companies, No.7, AGT Business Park, I Floor, Phase II, Avinashi Road, Civil Aerodrome Post, Coimbatore,Tamil Nadu, India, 641014
Phone: (0422) -2629640,2628170
Fax: 0422-2628089
E-mail: roc.coimbatore@mca.gov.in

Order ID: PO/ADJ/01-2026/CB/01340 Dated: 06/01/2026

ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 121(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 MOUNT HOUSING AND INFRASTRUCTURE LIMITED [herein after known as Company] bearing CIN L45201TZ1995PLC006511, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at 122 I, SILVER ROCK APARTMENT, 2ND FLOOR, VENKATASAMY ROAD WEST RATHINASABAPATHY PURAM COIMBATORE SOUTH COIMBATORE TAMIL NADU INDIA 641002

Individual details:

In the matter relating to . POONAM BAFNA ——–

In the matter relating to ANITA CHHAJER ——-

In the matter relating to JITENDRA KUMAR JAIN ——-

In the matter relating to ALKA KANKANI ——-

C. Provisions of the Act:

(3) If the company fails to file the report under sub-section (2) before the expiry of the period specified therein, such company shall be liable to a penalty of one lakh rupees and in case of continuing failure, with further penalty of five hundred rupees for each day after the first during which such failure continues, subject to a maximum of five lakh rupees and every officer of the company who is in default shall be liable to a penalty which shall not be less than twenty-five thousand rupees and in case of continuing failure, with further penalty of five hundred rupees for each day after the first during which such failure continues, subject to a maximum of one lakh rupee.

D. Facts about the case:

1. Default committed by the officers in default/noticee – Company has filed MGT 15 for the year 2024 on 12.11.2024 with a delay of 13 days.

2. Company has defaulted the provisions of section 121(2) by filing MGT-15 form with a delay of 13 days. For the Financial Year 2023-24, the AGM of the Company was conducted on 30/09/2024 and as per section 121 of the Companies Act 2013, return in form MGT-15 was supposed to be filed on 30/10/2024. However the Company has filed the form MGT-15 on 12/11/2024 resulting in a delay of 13 days thereby attracting penalty under section 121(3) of Companies Act 2013. Since the Company has requested for physical hearing, this hearing is conducted physically.

E. Order:

1. The Company has accepted the default and hence a penalty of Rs. 1,06,500/- is imposed on the Company (Rs. 1.0Lakh + 500X13) and a penalty of Rs. 31,500/- (Rs. 25000 + 5000X13) is imposed on all the Officers in default viz Ms POONAM BAFNA (DIN 07433870 – CFO); RAMESH CHAND BAFNA (DIN 02483312) – MD; KALPESH BAFNA (DIN 01490521)-WTD; AND ANITA CHHAJER (AMKPC2255P) – CS. Since Mr JITENDRA KUMAR JAIN(02506916) and ALKA KANKANI (07062309) are not KMPs, they are not liable for any penalty. However due to technical glitch the names of the MD and WTD cannot be added in the list of defaulters. Hence the names of the Independent Directors are shown in the list of defaulters even though they are not the Officers in Default. This order imposing penalty is applicable to the four KMPs only (viz the MD, WTD, CFO and CS).

2. The details of penalty imposed on the company, officers in default and others are shown in the table below:

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.

Vairamuthu Nagarajan,
Registrar of Companies
ROC Coimbatore