The Registrar of Companies (ROC), Mumbai, has imposed a penalty on SweetElephant Infotech Private Limited and its director, Mr. Jiten Vinod Shah, for failing to file the company’s financial statements for the financial year ended March 31, 2021, as required under Section 137(1) of the Companies Act, 2013. The adjudication was conducted under Section 454 of the Act, following directions from the Director General of Corporate Affairs (DGCoA). The inquiry, initiated under Section 206(4), revealed that the company had not submitted its financial statements in e-Form AOC-4, despite an extended filing deadline granted due to the COVID-19 pandemic. The final due date for submission was December 29, 2021, but the default continued unrectified. A show cause notice issued in August 2025 received no response, and no request for an e-hearing was made by the company or its director.
Upon examination of the company’s records in the MCA-21 portal, it was confirmed that the financial statements for FY 2020-21 remained unfiled. Considering the continuous default period from December 30, 2021, to November 7, 2025—a total of 1,409 days—the ROC determined the penalty in accordance with Section 137(3). The provision prescribes an initial penalty of ₹10,000 and an additional ₹100 per day of continued default, subject to specified maximum limits. The total penalty imposed on SweetElephant Infotech Pvt. Ltd. amounted to ₹1,50,800, while the company’s director, Mr. Jiten Vinod Shah, was fined ₹50,000. As the company did not qualify as a small company under Section 2(85) due to the absence of financial disclosures, the reduced penalty benefit under Section 446B was not applicable.
The ROC directed both the company and its director to rectify the default by filing the pending financial statements within 90 days of receiving the order and to pay the penalty through the Ministry of Corporate Affairs’ e-Adjudication facility. The order also instructed that the penalty imposed on the officer in default must be paid from his personal income. The concerned parties retain the right to appeal the order before the Regional Director (RD), Mumbai, within 60 days from receipt of the order, in accordance with Section 454(5) and (6) of the Act. Additionally, failure to pay the penalty within the prescribed period may attract further penal consequences under Section 454(8) of the Companies Act, 2013.
This order underscores the importance of timely compliance with statutory financial reporting requirements. The ROC emphasized that the company and its officers must fulfill their obligations under Section 137 to maintain transparency and regulatory accountability in corporate governance practices.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Mumbai
Registrar Of Companies, 100, Everest, Marine Drive, Mumbai, Maharashtra, India, 400002
Phone: 022-22812627,022-22812645
E-mail: roc.mumbai@mca.gov.in
Order ID: PO/ADJ/11-2025/MB/00826 | Dated: 07/11/2025
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 SWEETELEPHANT INFOTECH PRIVATE LIMITED [herein after known as Company] bearing CIN U72900MH2020PTC347476, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at RATNESH APT, A-17 LINE ALI, SHIVAJI ROAD OPP MHATRE HOSPITAL NA PANVEL RAIGARH MAHARASHTRA INDIA 410206
Individual details:
In the matter relating to JITEN VINOD SHAH [herein after known as individual] having DIN 08888977 and having its address at
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 – Whereas the office of the Director General (Corporate Affairs) (hereinafter referred to as DGCoA) vide letter no. CL-II-08/131/2021-DGCoA-MCA dated 13.12.2021 directed the office of Registrar of Companies, Mumbai (hereinafter referred to as the ROC) to conduct an inquiry under Section 206(4) of the Companies Act, 2013 in the matter of the SweetElephant Infotech Private Limited. Accordingly, the said Inquiry was conducted, and an Inquiry report was submitted on 22.08.2022.
Whereas the IO in his inquiry report stated that the Company has failed to file its Financial Statements for the Financial Year ended as on 31.03.2021.
Whereas during the period of Covid-19 pandemic, the ROC vide order dated 23.09.2021 had given an extension of 2 months for holding of the Annual General Meeting for F.Y. 2020-2021. Thus, the due date of filing Financial Statements for F.Y. 2020-21 was 29.12.2021. However, the Company has not filed its Financial Statements in E-Form AOC 4 till date resulting in contravention of section 137(1) of the Act.
2. Noticee have not replied to the notice nor requested for E-hearing. Thus, e-hearing was not conducted in the matter.
E. Order:
1. A. A Show Cause notice bearing ID: SCN/ADJ/07-2025/MB/02248 dated 04.08.2025 was issued to the Company and its directors (hereinafter referred to as the Noticees) under Section 454 read with Section 137(3) of the Act electronically via E-adjudication module on account of non-filing of Financial Statements for financial year ended as on 31.03.2021 as observed by the IO in the Inquiry report dated 22.08.2022.
B. However, no reply was received to the said Show Cause Notice dated 04.08.2025.
C. On perusal of the e-filing of the Company on the MCA-21, it is observed that the Company has not filed its Financial Statements for financial year ended as on 31.03.2021 till the date of this order in contravention of the Section 137(1) of the Act.
D. During the period of Covid-19 pandemic, the ROC vide order dated 23.09.2021 had given an extension of two months for holding of Annual General Meeting for F.Y. 2020-2021. Thus, the due date of filing Annual Return for F.Y. 2020-2021 was 30.11.2021. Ergo, the violation period is considered from 30.12.2021 to till date of order i.e., 07.11.2025, to be at a total of 1409 days.
E. Therefore, the Company and its director namely Mr. Jiten Vinod Shah shall be liable to a penalty of Rs. 10,000/- for first default and Rs. 100/- per day for continued default of 1408 days that is Rs. 1,40,800/- (Rupees One Lakhs Forty Thousand Eight Hundred only) aggregating to Rs. 1,50,800/- (Rupees One Lakh Fifty Thousand Eight Hundred only), subject to a maximum of Rs. 50,000/- (Rupees Fifty Thousands only) for director..
F. However, the Subject Company does not fall within the definition of a Small Company under the provisions of Section 2(85) of the Act as its turnover is not known due to non-filing of financial statements since its incorporation. Therefore, the provisions of Section 446B of the Act shall not be applicable to the Company and its directors.
G. Now, in exercise of the powers conferred on the Adjudicating Officer vide Notification dated 24th March 2015, having considered the facts and circumstances of the case, I hereby impose penalty of Rs. 1,50,800/- (Rupees One Lakh Fifty Thousand Eight Hundred only) on the Company and Rs. 50,000/- (Fifty Thousand Only) on Mr Jiten Vinod Shah (Director) under the penal provisions of Section 137(3) of the Act for default of provisions of Section 137(1) of the Act.
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 | SWEETELEPHA NT INFOTECH PRIVATE LIMITED having CIN as U72900MH2020P TC347476 | the Company and its officers are directed to make the requisite filings of Financial Statements in compliance of Section 137 of the Act | 150800 | 0 | 200000 |
| 2 | JITEN VINOD SHAH having DIN as 08888977 | the Company and its officers are directed to make the requisite filings of Financial Statements in compliance of Section 137 of the Act | 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 Mumbai 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.
Chandan Kumar,
Registrar of Companies
ROC Mumbai
