ROC Cuttack imposed Penalty for Non-Filing of MGT-14 Board Resolution

The ROC Cuttack, under the Ministry of Corporate Affairs, adjudicated a penalty under Section 454 of the Companies Act, 2013 for violation of Section 117(2). SAV Industries Private Limited failed to file Form MGT-14 along with the Board Resolution approving its financial statements for the financial year ended 31.03.2014, as required under Sections 117(1) and 179(3)(g). The company has since been dissolved by NCLT order dated 10.07.2023, but the penalty was imposed on the officer in default, Ayush Agarwal, amounting to ₹50,000. The officer is required to pay the penalty within 90 days through the MCA e-Adjudication portal from personal funds. No reply was received from the directors/officers during the show-cause notice period. Appeals against the order may be filed with the Regional Director, RD Kolkata, within 60 days. The order reinforces the statutory obligations of directors and officers to ensure timely compliance with corporate governance filings, even post-dissolution of the company.

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, Odisha, India, 753014
Phone: 0671-2366952
E-mail: roc.cuttack@mca.gov.in

Order ID: PO/ADJ/12-2025/CT/01157 Dated: 11/12/2025

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. 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 SAV INDUSTRIES PRIVATE LIMITED [herein after known as Company] bearing CIN U28112OR1999PTC005891, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at ROOM NO. 02, 1ST FLOOR, KHALSA NIWAS ITI CHOWK, NEAR TARINI TEMPLE NA ROURKELA ORISSA INDIA 769004

Individual details:

In the matter relating to AYUSH AGARWAL—–

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 – In the matter of SAV Industries Private Limited – It is verified from the MCA portal and found that the Company has not filed MGT-14 along with Boards Resolution about approving its financial statement for the financial year ended as on 31.03.2014 as per requirement of Section 117(1) read with Section 179(3)(g) of the Companies Act, 2013. Hence, the Company has violated the provision of Section 117(1) read with Section 179(3)(g) of the Companies Act, 2013.

2 N. A.

E. Order:

1. Facts about the case : In the matter of SAV Industries Private Limited – It is verified from the MCA portal and found that the Company has not filed MGT-14 along with Board?s Resolution about approving its financial statement for the financial year ended as on 31.03.2014 as per requirement of Section 117(1) read with Section 179(3)(g) of the Companies Act, 2013. The Company has violated the provision of Section 117(1) read with Section 179(3)(g) of the Companies Act, 2013.

Reply of the Company/Directors : In response to the SCN dated 16.10.2025, reply has not been received from the Directors/Officers of the company.

Order : It is observed from MCA portal that the company has been dissolved vide Order of the NCLT dated 10.07.2023. After considering the fact of the case and provisions of the Companies Act 2013, the A.O. is of the view that the company has contravened the Section 117(1) read with Section 179(3)9g) of the Companies Act 2013. Hence, the AO do hereby impose penalty upon the Directors/Officers of the company in default for the relevant period under the provisions of 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:

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 Kolkata 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.

Sudhir Kapoor,
Registrar of Companies
ROC Cuttack