The Registrar of Companies, Uttar Pradesh I, by Order ID PO/ADJ/06-2026/UP/02422 dated 24 June 2026, adjudicated penalties under section 454 of the Companies Act, 2013 for violation of section 88(5) by CHICAGO KISAN CREDIT PRODUCER COMPANY LIMITED and its officers. The order states that an inspection initiated through the Ministry’s letter dated 22.11.2021 resulted in an Inspection Report dated 24.03.2023 recording that the company had not kept its register of members and other security holders, books of accounts and other secretarial records at its registered office, as the company was not found at its registered address. The order records that this constituted a violation of section 88 of the Companies Act, 2013 read with Rule 3 of the Companies (Management and Administration) Rules, 2014. Show cause notices dated 19.05.2026 were issued, but no response or request for hearing was received. Accordingly, penalties of ₹1,50,000 were imposed on the company and ₹25,000 each on GAGAN DEEP SINGH, JARMANJIT SINGH, DALJIT SINGH, GULJAR SINGH, and CHANDAN DEEP. The order directs rectification of the default, payment within 90 days, and provides for an appeal to the Regional Director, Delhi, within 60 days.
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/06-2026/UP/02422 | Dated: 24/06/2026
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (THE ACT’) FOR VIOLATION OF SECTION 88(5) 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 CHICAGO KISAN CREDIT PRODUCER COMPANY LIMITED [herein after known as Company] bearing CIN U01407UP2014PTC063578, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at 128/K/61 KIDWAI NAGAR NA KANPUR KANPUR DEHAT UTTAR PRADESH INDIA 208011
Individual details:
In the matter relating to GAGAN DEEP SINGH
In the matter relating to JARMANJIT SINGH
In the matter relating to DALJIT SINGH
In the matter relating to GULJAR SINGH
In the matter relating to CHANDAN DEEP
C. Provisions of the Act:
If a company does not maintain a register of members or debenture-holders or other security holders or fails to maintain them in accordance with the provisions of sub-section (1) or sub-section (2), the company shall be liable to a penalty of three lakh rupees and every officer of the company who is in default shall be liable to a penalty of fifty thousand rupees.
D. Facts about the case:
1. Default committed by the officers in default/noticee –
1. This Inspection has been conducted via the Ministry’s letter dated 22.11.2021.
2. The Inspecting Officer (10) submitted the Inspection Report to the competent authority on 24.03.2023. The report explicitly mentions that the Company has not kept its register of members and other securities holders, books of accounts and other secretarial records at the registered office of the company as the company’s registered address is not found on the registered address of the company. Hence, the Company and its Directors have violated section 88 of the Companies Act, 2013 read with Rule 3 of the Companies (Management and Administration) Rules, 2014 which attracts the penal provision mentioned under Section 88 (5) of the Companies Act, 2013.
Keeping in view of the above, you are hereby called upon to show cause as to why penal action should not be initiated against the company and its officers in default of the aforesaid default.
2. Neither any response has been received from the company and its officers-in-default nor any request of hearing received in this regard.
E. Order:
1. The Inspecting Officer (10) observed that the Company has not kept its register of members and other securities holders at the registered office of the company. Hence, the Company and its Directors have violated section 88 of the Companies Act, 2013 read with Rule 3 of the Companies (Management and Administration) Rules, 2014 which attracts the penal provision mentioned under Section 88 (5) of the Companies Act, 2013.
This office issued Show Cause Notice on 19.05.2026 to the company and every officer of the Company who are in default. More than 30 days have expired from issue of Show Cause Notice, no response has been received till date. The company and its officer-in default have also not requested a hearing. In the said circumstances, penalty as applicable as mentioned below are imposed as per Section 88 (5) of the Companies Act, 2013 for the violation section 88 (1) read with Rule 3 of the Companies (Management and Administration) Rules, 2014 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 | CHICAGO KISAN CREDIT PRODUCER COMPANY LIMITED having CIN as U01407UP2014P TC063578 | 150000 | 0 | 300000 | |
| 2 | GAGAN DEEP SINGH having DIN as 05241688 | 25000 | 0 | 50000 | |
| 3 | JARMANJIT SINGH having DIN as 05276577 | 25000 | 0 | 50000 | |
| 4 | DALJIT SINGH having DIN as
06830580 |
25000 | 0 | 50000 | |
| 5 | GULJAR SINGH having DIN as 06830589 | 25000 | 0 | 50000 | |
| 6 | CHANDAN DEEP . having DIN as 06830606 | 25000 | 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
