The Registrar of Companies, Chennai, passed an adjudication order dated 27.07.2026 under Section 454 of the Companies Act, 2013 against Janatha Benefit Fund Nidhi Limited for violation of Rule 14(6) of the Companies (Prospectus and Allotment of Securities) Rules, 2014, attracting penalty under Section 450 of the Companies Act, 2013. The matter arose after the Ministry rejected the company’s Form NDH-4 on 05.07.2024, observing that the list of allottees attached with Form PAS-3 filed on 01.02.2020 did not contain the Permanent Account Number and E-mail ID of the allottees. The company stated that the omission was inadvertent and unintentional, expressed willingness to rectify the defect, and informed that one officer in default had expired on 02.12.2021. After considering the submissions and hearing, the Adjudicating Authority held that Form PAS-3 was required to contain complete particulars of allottees, including PAN and E-mail ID, and concluded that the company had violated Rule 14(6). Penalties of ₹10,000 each were imposed on the company and three officers in default, while no penalty was imposed on the deceased officer. The order directed rectification of the default, payment within 90 days, and permitted an appeal before the Regional Director, Chennai within 60 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/06-2026/CN/02453 Dated: 27/07/2026
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 JANATHA BENEFIT FUND NIDHI LIMITED [herein after known as Company] bearing CIN U65991TN1991PLC020786, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at NO 6 CASAMAJOR ROADEGMORE CHENNAI NA CHENNAI TAMIL NADU INDIA 600008
Individual details:
In the matter relating to JAGDISH KUMAR BINDIYA . —————–
In the matter relating to JAGDISH KUMAR . ——————
In the matter relating to VIVEK BHAIYA . —————————
In the matter relating to RANGANATHAN ARUNKUMAR ———————
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 05.07.2024 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. JANATHA BENEFIT FUND NIDHI LIMITED (vide SRN: R45123692 date. 09.07.2020) wherein it was stated that the company has not mentioned the complete details in the list of allotees as attached in the PAS 3 filed via SRN R32029498 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 held, 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 of allottees attached with Form PAS-3 filed vide SRN R32029498 dated 01.02.2020 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 SCN/ADJ/04-2026/CN/04157 on 21.04.2026. The Company vide letter dated 30.04.2026 submitted that the omission of occupation details, PAN and E-mail ID in the list of allottees was inadvertent and unintentional and that it does not affect the genuineness of the allotment or the interest of stakeholders. They further submitted that the Company is willing to rectify the defect and submit the revised/updated details. The Company further submitted that one Officer in default, Mr. Ranganathan Arun Kumar (DIN 00018588), has expired on 02.12.2021 and that a copy of Death Certificate along with the DIR-12 is filed vide SRN T84029016 dated 02.03.2022. Further the Adjudicating Authority has scheduled e-hearing on 27.05.2026. Mr. Jagadish Kumar, Director, attended the e-hearing scheduled on 27.05.2026 on behalf of the Company and made submissions that the violation may be adjudicated by imposing lesser penalty.
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 SRN R32029498 dated 01.02.2020. 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 | JANATHA BENEFIT FUND NIDHI LIMITED having CIN as U65991TN1991P LC020786 | Yes | 10000 | 0 | 200000 |
| 2 | JAGDISH
KUMAR BINDIYA . having DIN as 06786164 |
Yes | 10000 | 0 | 50000 |
| 3 | JAGDISH KUMAR . having DIN as 01134311 | Yes | 10000 | 0 | 50000 |
| 4 | VIVEK BHAIYA . having DIN as 06838694 | Yes | 10000 | 0 | 50000 |
| 5 | RANGANATHAN ARUNKUMAR having DIN as 00018588 | 0 | 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
