The Registrar of Companies (ROC), Cuttack, imposed penalties under Section 450 of the Companies Act, 2013 for furnishing incorrect information in e-Form AOC-4 XBRL and the linked CSR-2 form for FY 2024-25. The company voluntarily filed Form GNL-1 seeking cancellation of the approved AOC-4 XBRL to enable refiling with corrected CSR disclosures, as the MCA system did not permit separate revision of CSR-2. The company contended that the error was purely clerical, unintentional, and made without any fraudulent intent or wrongful gain. While Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014 places responsibility for the accuracy of e-forms on the authorised signatory and the certifying professional, the company requested that proceedings against it be dropped. Accepting this contention, ROC Cuttack imposed penalties of ₹10,000 each on the authorised signatory and certifying professional, while no penalty was levied on the company itself.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Cuttack
ROC-cum-Official Liquidator, Ministry Of Corporate Affairs, Corporate Bhawan, 2nd & 3rd Floor, Plot No-9(P), Sector-1,
CDA, Cuttack, Orissa, India, 753014
Phone: 0671-2366952
E-mail: roc.cuttack@mca.gov.in
Order ID: PO/ADJ/06-2026/CT/02296|Dated: 10/06/2026
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 450 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 FERRO ALLOYS CORPORATION LIMITED [herein after known as Company] bearing CIN U45201OR1955PLC008400, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at D P NAGAR RANDIA BHADRAK NA ORISSA ORISSA INDIA 756135
Individual details:
In the matter relating to SAMBIT KUMAR SARANGI_________
In the matter relating to JYOTIRMOY MISHRA_____________
C. Provisions of the Act:
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 1[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]
D. Facts about the case:
1. Default committed by the officers in default/noticee – The company has filed GNL-1 dated 19.05.2026 (SRN-AC3270770) with a request to mark the approved e-form AOC-4 XBRL (SRN-AB8438644) as defective, so as to enable the company to file a revised form with correct details. The company has submitted that incorrect information was inadvertently entered in the linked CSR-2 form. Currently, there is no provision available to revise CSR-2 separately, making it necessary to cancel the entire AOC-4 XBRL filing.
It is observed that the company has filed the document AOC-4 XBRL for the Financial Year 2024-25 with incorrect information. Rule 8(3) of the Companies Registration Offices and Fees) Rules, 2014 provides that :- The authorized signatory and the professional, if any, who certify e-form shall be responsible for the correctness of the contents of e-form and correctness of the enclosures attached with the electronic form. Therefore, the company, its authorized signatory and the Professional, who certify the e-form are liable for penalty under Section 450 of the Companies Act, 2013.
2. The Noticee have not opted for e-hearing, hence, the e-hearing has not been provided.
E. Order:
1. (i)In response to the Show Cause Notice (SCN) dated 03.06.2026, the company (Noticee-1), Shri Sambit Kumar Sarangi (Noticee-2) and Shri Jyotirmoy Mishra (Noticee-3) have submitted their reply. In their reply, they have admitted that the error was purely clerical and unintentional, without any mala fide intent, concealment, or wrongful gain. The company voluntarily approached the Registrar for correction of the mistake, demonstrating its bona fide intention to maintain accurate statutory records and compliance.
They have further submitted that the e-form was signed by the Authorised Signatory, Shri Sambit Kumar Sarangi and certified by the Professional, Shri Jyotirmoy Mishra. Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014 specifically provides that the authorised signatory and the certifying Professional are responsible for the correctness of the contents of the e-form and its attachments. Accordingly, liability, if any, may kindly be examined in the context of the persons expressly entrusted with such responsibility under the said Rule. Hence, proceedings against the company other than the Authorised Signatory and the Certifying Professional be dropped and no penalty be imposed.
(ii)I have carefully perused the reply submitted by the company & other noticee and considered the prayer of the noticee for not imposing penalty against the company in lieu of the provisions of Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014. Therefore, I am imposing penalty upon Shri Sambit Kumar Sarangi, the Authorised Signatory of the company and Shri Jyotirmoy Mishra, the certifying Professional under the provisions of Section 450 of the Companies Act, 2013 for violation of Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014.
(iii)The officer/s in default and certifying professional shall pay the below mentioned amount of penalty through online mode specifying the details of this order and the name of the noticee who is paying the penalty pursuant to Rule 3(14) of Company (Adjudication of Penalties) (Amendment) Rules, 2019, within 90 days of receipt of this order. Further the company shall file form INC-28 attaching a copy of order and payment challans immediately after payment of the penalty amount.
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 | FERRO ALLOYS CORPORATION LIMITED having CIN as U45201OR1955P LC008400 | 0 | 0 | 200000 | |
| 2 | SAMBIT KUMAR SARANGI having DIN as 08527328 |
10000 | 0 | 50000 | |
| 3 | JYOTIRMOY MISHRA having PAN as AKZPM5148G | 10000 | 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 Hyderabad 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.
Sitaram Gupta,
Registrar of Companies
ROC Cuttack
