The Registrar of Companies, Coimbatore, passed an adjudication order under Section 454 of the Companies Act, 2013 for violation of Section 450 in respect of PROGEN RENEWABLES LIMITED. The company had filed Form MGT-7 for the financial years 2019-20, 2020-21, 2021-22 and 2022-23 with a clerical error by mentioning the date of the AGM in the authorization date/resolution field instead of the date of the Board Meeting authorising the filing of the e-forms. The order records that the subsequent MGT-7 filings disclosed the Board Meeting dates, all other mandated disclosures were made, Section 92 could not be invoked, and the contravention was procedural rather than substantial. Considering that the company had voluntarily sought adjudication, the Adjudicating Officer held the contravention established and imposed a penalty of ₹40,000 on the company and ₹40,000 on Ms. Veena Jose (DIN: 08017313), being ₹10,000 for each of the four financial years. The order directs rectification of the default and payment of the penalty within 90 days, provides for an appeal before the Regional Director, Chennai within 60 days, and refers to Section 454(8) for consequences of non-payment.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Coimbatore
Registrar Of Companies, No.7, AGT Business Park, I Floor, Phase II, Avinashi Road, Civil Aerodrome Post, Coimbatore,
Tamil Nadu, India, 641014
Phone: (0422)-2629640,2628170
Fax: 0422-2628089
E-mail: roc.coimbatore@mca.gov.in
Order ID: PO/ADJ/06-2026/CB/02304 | Dated: 12/06/2026
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 PROGEN RENEWABLES LIMITED [herein after known as Company] bearing CIN U31909TZ2017PLC029803, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at 87 A, FIRST FLOOR SATHY ROAD, MUNIAPPAN KOIL STREET, GANAPATHY COIMBATORE NORTH COIMBATORE TAMIL NADU INDIA 641006
Individual details:
In the matter relating to VEENA JOSE ____________
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 – That the company filed its MGT-7 with a clerical error of mentioning the date of AGM in authorization date/resolution number instead of the date of the Board Meeting authorizing the filing of e- forms for the financial years. The details of the SRN as follows:-
2019-2020 vide SRN R98180359
2020-2021 vide SRN T75655985
2021-2022 vide SRN F59007666
2022-2023 vide SRN N23364516
Since no penal provisions are not available in any of the section of Companies Act, 2013 the company and its officers in default are liable for penal action under section 450 of the Companies Act, 2013.
2. The company filed its MGT-7 with a clerical error of mentioning the date of AGM in authorization date/resolution number instead of the date of the Board Meeting authorizing the filing of e-forms for the financial years. The details of the SRN as follows:- 2019-2020 vide SRN R98180359, 2020-2021 vide SRN T75655985, 2021-2022 vide SRN F59007666, 2022-2023 vide SRN F90199829.
This is ascertained by the entries present in subsequent MGT-7 where the list of Board Meeting are disclosed with dates. Since other disclosures mandated to be filed along with MGT-7 are done and only this Board Meeting date is wrongly mentioned, section 92 of the Companies Act 2013 cannot be invoked. As the contravention is merely procedural and not substantial and due to the fact that the Company has come voluntarily for adjudication, the Company and the Officers in default are liable for penal action under section 450 of the Companies Act 2013.
E. Order:
1. Contravention is established. Hence Company and Ms VEENA JOSE (having DIN as 08017313) who has been the Officer in Default during the relevant periods are imposed a penalty of Rs. 40,000/- (Rs. 10,000/- each year for 4 years).
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 | PROGEN RENEWABLES LIMITED having CIN as U31909TZ2017PL C029803 | 40000 | 0 | 200000 | |
| 2 | VEENA JOSE having DIN as 08017313 | 40000 | 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.
Vairamuthu Nagarajan,
Registrar of Companies
ROC Coimbatore
