The ROC Cuttack, under the Ministry of Corporate Affairs, adjudicated penalties under Section 454 of the Companies Act, 2013 for violation of Section 203(1)(ii), which mandates the appointment of a whole-time Company Secretary. Sambandh Finserve Private Limited failed to comply with this requirement from 29.01.2021 onwards. The company and certain directors, including James Dinesh Raj and Deepak Kindo, were penalized ₹5 lakh each. Independent Directors Akshaya Kumar Parhi and Uma Shankar Lal were exempted from penalties after demonstrating that they provided strategic oversight without involvement in daily operations. The company is required to rectify the default and pay penalties within 90 days through the MCA e-Adjudication portal. Appeals can be filed with the Regional Director, RD Kolkata, within 60 days. The order emphasizes that penalties on officers must be paid from personal income and highlights continuing liability provisions, reinforcing compliance obligations for key managerial personnel under the Companies Act.
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/01158 Dated: 11/12/2025
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 203(5) 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 SAMBANDH FINSERVE PRIVATE LIMITED [herein after known as Company] bearing CIN U67120OR1996PTC011931, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at PLOT NO. O-4/9, CIVIL TOWNSHIP, PS. RAGHUNATHPALLI NA ROURKELA SUNDARGARH ORISSA INDIA 769004
Individual details:
In the matter relating to JAMES DINESH RAJ ——-
In the matter relating to DEEPAK KINDO —-
In the matter relating to UMA SHANKAR LAL ——
In the matter relating to AKSHAYA KUMAR PARHI ——-
C. Provisions of the Act:
If any company makes any default in complying with the provisions of this section, such company shall be liable to a penalty of five lakh rupees and every director and key managerial personnel of the company who is in default shall be liable to a penalty of fifty thousand rupees and where the default is a continuing one, with a further penalty of one thousand rupees for each day after the first during which such default continues but not exceeding five lakh rupees.
D. Facts about the case:
1. Default committed by the officers in default/noticee – As per Section 203(1)(ii) of the Companies Act, 2013 read with Rule 8A of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the company is required to appoint a Whole-time Company Secretary. However, the Company has not complied with the said provisions from 29.01.2021 to till date.
2. N. A.
E. Order:
1. Facts about the case : As per Section 203(1)(ii) of the Companies Act 2013 read with Rule 8A of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the company is required to appoint a whole-time Company Secretary. However, the company has not complied with the said provisions from 29.01.2021 to till date.
Reply of the Company/Directors : In response to the SCN dated 15.09.2025, the Resolution Professional of the company has submitted vide letter dated 29.09.2025 that the company is under CIRP and the alleged default, being prior to the initiation of CIRP, may kindly be treated as lapse of the erstwhile management and not attributable to the present Resolution Professional.
Shri Akshya Kumar Parhi has stated that he was an Independent Director in the company from 17.12.2020 to 06.05.2024.
Shri Uma Shankar Lal has stated that he was an Independent and Non-executive Director from 17.11.2020 to 08.09.2021. He further stated that a non-executive Director is an external Board Member who provide strategic guidance and governance without being involved in daily operations of the company.
Order : It is observed that Shri Akshya Kumar Parhi and Uma Shankar Lal were Independent Directors during the relevant period. Hence, considering submission made by them no further action is warranted against them. Hence, the A.O. do hereby impose penalty upon the company and other Directors/Officers in default for the relevant period under the provisions of Section 203(5) of the Companies Act, 2013 for violation of Section 203(1)(ii) 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 | SAMBANDH FINSERVE PRIVATE LIMITED having CIN as U67120OR1996P TC011931 | 500000 | 0 | 500000 | |
| 2 | JAMES DINESH RAJ having PAN as AIXPR3952M |
500000 | 0 | 500000 | |
| 3 | DEEPAK KINDO having DIN as
01502243 |
500000 | 0 | 500000 | |
| 4 | UMA SHANKAR LAL having DIN as 06813856 | 0 | 0 | 500000 | |
| 5 | AKSHAYA KUMAR PARHI having DIN as 08630665 | 0 | 0 | 500000 |
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
