Section 450 Penalty Imposed for Incomplete PAS-3 Allottee Details Under Rule 14(6): ROC Chennai
The Registrar of Companies, Chennai, issued an adjudication order under Section 454 of the Companies Act, 2013, for violation of Section 450 arising from non-compliance with Rule 14(6) of the Companies (Prospectus and Allotment of Securities) Rules, 2014. The Ministry had rejected the company’s NDH-4 form and noted that the list of allottees attached to Form PAS-3 filed on 02.08.2017 did not contain the Permanent Account Number and e-mail ID of the allottees as required under Rule 14(6). The adjudicating authority issued a notice for e-adjudication and scheduled an e-hearing, but no reply was received from the company or the officer in default, and no one attended the hearing, resulting in ex parte proceedings. The authority held that the company had violated Rule 14(6) by failing to include the Permanent Account Number and e-mail ID of the allottees in the list attached with Form PAS-3 and imposed a penalty of ₹10,000 each on the company and the officer in default. The order directs rectification of the default and payment of the penalty within 90 days through the MCA e-Adjudication facility, provides for an appeal before the Regional Director, Chennai, within 60 days, and refers to Section 454(8) regarding non-payment.
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/06-2026/CN/02367 Dated: 24/06/2026
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 SEMPONNAR NIDHI LIMITED [herein after known as Company] bearing CIN U67190TN2012PLC084482, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at NO. 3/132-I, MAIN ROAD, SEMBANARKOIL NA NAGAPATTINAM TAMIL NADU INDIA 609301
Individual details:
In the matter relating to . PANDIYAN ——
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 Ministry vide letter dated 10.07.2024 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. SEMPONNAR NIDHI LIMITED (vide SRN: R74728155 date. 14.12.2020) wherein it was mentioned that the company has not mentioned the complete details in the list of allotees as attached in the PAS 3 filed via SRN G49611023 as required in Rule 14(6) of the Companies (Prospectus and Allotment of Securities) Rules, 2014 which read as follows:
14 (6) A return of allotment of securities under section 42 shall be filed with the Registrar within fifteen days of allotment in Form PAS-3 and with the fee as provided in the Companies (Registration offices and Fees) Rules, 2014 along with a complete list of all the allottees containing-
i. the full name, address, permanent Account Number and E-mail ID of such security holder;
ii. the class of security held;
iii. the date of allotment of security ;
iv. the number of securities herd, nominal value and amount paid on such securities; and particulars of consideration received if tire securities were issued for consideration other than cash.
On perusal of the said rejection letter and relevant forms, it is noticed that the subject Company has not mentioned Permanent Account Number, e-mail of the allottees in the list of allottees attached with Form PAS-3 filed vide SRN G49611023 dated 02.08.2017 in MCA system, resulting in violation of Rule 14(6) of Companies (Prospectus and Allotment of Securities) Rules, 2014. Hence, the company and its director is liable under Section 450 of the Companies Act, 2013.
2. The Adjudicating Authority has issued notice for e-Adjudication vide SM/ADJ/03-2026/CN/06656 on 21.04.2026. No reply has been received from the company or from the officers in default. Further the Adjudicating Authority has scheduled e-hearing on 27.05.2026. Neither the Directors nor their authorized representatives attended the e-hearing scheduled on 27.05.2026. 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. As per Rule 14(6) of Companies (Prospectus and Allotment of Securities) Rules, 2014, Form PAS-3 shall be filed along with a complete list of all the allottees containing the full name, address, PAN and E-mail ID of such security holder. However, the Company has failed to mention the Permanent Account Number and E-mail ID of the Allottees in the list of Allottees attached along with Form PAS-3 filed vide SRN G49611023 dated 02.08.2017. In view of the above, the subject company has violated the Rule 14(6) of Companies (Prospectus and Allotment of Securities) Rules, 2014. Hence, the company and its officers in default are liable for action under Section 450 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 | SEMPONNAR NIDHI LIMITED having CIN as U67190TN2012P LC084482 | Yes | 10000 | 0 | 200000 |
| 2 | . PANDIYAN having DIN as05154117 |
Yes | 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 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
