The Registrar of Companies, Uttar Pradesh imposed penalties under Section 454 of the Companies Act, 2013 for violation of Section 137(1) relating to improper filing of financial statements in Form AOC-4. During an inquiry under Section 206(4), it was found that the company had filed financial statements for FY 2017-18 and 2018-19, but failed to properly file statements for FY 2019-20 and FY 2020-21. Although Form AOC-4 was filed for FY 2020-21, the company attached the balance sheet for FY 2019-20 while the auditor’s report pertained to FY 2020-21, resulting in defective filing and non-compliance. Show cause notices and hearing opportunities were granted, but neither the company nor its officers responded or rectified the defect. Consequently, the ROC imposed a penalty of Rs. 1,42,700 on the company and Rs. 50,000 each on three directors/officers in default. The order also directed rectification within 90 days and permitted appeal before the Regional Director.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Uttar Pradesh I
2nd Floor, Kendriya Bhawan, GPOA Building, Fazalganj, Kanpur, Uttar Pradesh, India, 208012
Phone: 0512-2310443
E-mail: roc.kanpur@mca.gov.in
Order ID: PO/ADJ/05-2026/UP/02255 | Dated: 21/05/2026
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 137(3) 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 LOKVIKAS BENEFIT NIDHI LIMITED [herein after known as Company] bearing CIN
U67190UP2017PLC093239, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at GURAWALIA KUSHINAGAR NA GORAKHPUR GORAKHPUR UTTAR PRADESH INDIA 274302
Individual details:
In the matter relating to AMBIKA SHARMA _________
In the matter relating to DILIP SHARMA __________
In the matter relating to PUJA SHARMA __________
C. Provisions of the Act:
(3) If a company fails to file the copy of the financial statements under sub-section (1) or sub-section (2), as the case may be, before the expiry of the period specified therein, the 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 during which such failure continues, subject to a maximum of two lakh rupees, and the managing director and the Chief Financial Officer of the company, if any, and, in the absence of the managing director and the Chief Financial Officer, any other director who is charged by the Board with the responsibility of complying with the provisions of this section, and, in the absence of any such director, all the directors of the company, shall be shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with 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 – SCA MCA vide letter dated 10.04.2020 directed to conduct the Inquiry u/s. 206(4) of the Companies Act, 2013. During the Couse of Inquiry, Inquiring Officer has observed/pointed out that ?On examination of the documents and information submitted and filed by the company it is found that the company has filed Financial Statements (FS) for the years 2017-18, 2018-19 but had not filed for the year ended 31.03.2020. However, now the company has filed the FS for the year ended 31.03.2021 without filing FS for the FY 2019-20. On further scrutiny it’s found that in Form AOC-4 for the financial year 2020-21 the Auditors Report is for the year 31.03.2021 but the balance sheet attached is for the year 31.03.2020. The company has filed from AOC -4 vide SRN: T79784518 for the financial year 01.04.2020 to 31.03.2021 and however, the company has attached balance sheet for financial year ending on 31.03.2020. Taking into consideration the eform and the FS, the Company has not filed the Financial Statements in Form AOC-4 for the year ending 31.03.2020 and 31.03.2021. Hence, it is non-compliance of Section 137(1) of the Companies Act, 2013 r/w the attachment s made by the company while filing the FS. The penal action to be initiated against the Company and its officers in default for violation of Section 137(1) of the Companies Act, 2013 which is punishable under Section 137(3) of the Companies Act, 2013?. The said violation was reported by the Inquiring Officer in his report dated 29.04.2022.
Accordingly, the office of DGCoA vide its File No. CL-II-04/110/2023-O/o DGCoA-MCA dated 02.11.2023 and RDNR vide letter No. Inquiry/206(4)/LokVikas/RD(NR)/2022/3314 dated 10.06.2022 directed this office to take necessary action for noncompliance of section 137(1) of the Companies Act, 2013 for the financial year 31.03.2021.
2. Hearing opportunity since the company has filed AOC 4 Form for the year ending 31.03.2021 with wrong attachment and in view of the CCFS scheme
E. Order:
1. During the Couse of Inquiry, IO has observed that the company has filed the Financial Statement for the year ended 31.03.2021 however on examination it was found that Form AOC-4 filed vide SRN T79784518 for the financial year 2020-21 had the Auditors Report for the year 31.03.2021 but the balance sheet attached was for the year 31.03.2020, which is noncompliance of Section 137(1) of the Companies Act, punishable under Section 137(3) of the Companies Act, 2013.. In this regard this office issued Show Cause Notice to the company and its officer-in-default for not filing the Financial Statements for the year ending as at 31.03.2021. Subsequently hearing was granted to the Company on 13.05.2026 and 21.05.2026, however the company and its officer-in default did not respond neither filed the document. In the said circumstances, penalty as mentioned below is being imposed upon the company as well as its officer-in default as per Section 137(3) Companies Act, 2013 for the year ending as at 31.03.2021.
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 | LOKVIKAS BENEFIT NIDHI LIMITED having CIN as U67190UP2017P LC093239 | 142700 | 0 | 200000 | |
| 2 | AMBIKA SHARMA . having DIN as 07805219 | 50000 | 0 | 50000 | |
| 3 | DILIP SHARMA having DIN as 07805228 | 50000 | 0 | 50000 | |
| 4 | PUJA SHARMA having DIN as 08161221 | 50000 | 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 Delhi 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.
Sanjay Bose,
Registrar of Companies
ROC Uttar Pradesh I
