ROC Mumbai I, by order dated 12/08/2026, imposed a ₹5,000 penalty under Section 450 of the Companies Act, 2013 for incorrect filing of Form MGT-7A for FY 2022-23. Arihant Trip Private Limited had 13.5% Compulsorily Convertible Debentures outstanding aggregating to ₹3.50 crore, which were correctly disclosed in its audited financial statements filed through Form AOC-4. However, while filing Form MGT-7A on 14.03.2024, the company inadvertently selected “NIL” under Clause IV relating to Debentures. The form was digitally signed and the declaration was made by Director Prerak Pankajkumar Shah. The Registrar held him liable under Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014, which makes the authorised signatory responsible for correctness of the e-form contents and enclosures. Considering that the company was a small company as on 14.03.2024 and was eligible for benefits under Section 446B, a penalty of ₹5,000 was imposed on the director. The order directed rectification within 90 days and clarified that the rectification would be limited to correcting the MGT-7A filing and would have no other bearing.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
ROC Mumbai I
100, Everest, Marine Drive, Mumbai, Maharashtra, India, 400002
Phone: 022-22812627
E-mail: [email protected]
Order ID: PO/ADJ/08-2026/MH/02638 | Dated: 12/08/2026
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 ARIHANT TRIP PRIVATE LIMITED [herein after known as Company] bearing CIN U63030MH2022PTC390510, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at 34, FLOOR 6, 80B, DARYA MAHAL, LAXMIBAI JAGMOHANDAS MARG, MALABAR HILL NA MUMBAI MUMBAI CITY MAHARASHTRA INDIA 400006
Individual details:
In the matter relating to PRERAK PANKAJKUMAR SHAH ____________
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 – Whereas the Registrar of Companies, Mumbai -I (hereinafter referred to as the ROC, Mumbai I) is in receipt of a suo-motu Adjudication Application on 03.07.2026 filed by Mr. Prerak Pankaj Kumar Shah, Director (DIN: 08005263) (hereinafter referred to as the Applicant) under Section 454 of the Companies Act, 2013 (hereinafter referred to as the Act) on account of filing incorrect details in E-form MGT-7A for Financial Year 2022-23 (hereinafter referred to as FY 2022-23).
Whereas Rule 8(1) and (3) of the Companies (The Registration Office and Fees) Rules, 2014 are reads as follows: (1) An electronic form shall be authenticated by authorised signatories using digital signature.
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(3) The authorised signatory and the professional, if any, who certify e-form shall be responsible for the correctness of the contents of e-form and correctness of the enclosures attached with the electronic form.
Whereas the applicant stated that the Company had 13.5% Compulsorily Convertible Debentures (CCDS) outstanding aggregating to Rs. 3,50,00,000/-, which was correctly disclosed under the head Long-Term Borrowings filed in the Audited Financial Statements filed in e-Form AOC-4 vide SRN: F93308013. The Company filed Annual Return in E-form MGT-7A for the F.Y. 2022-23 vide SRN F93413557 on 14.03.2024. However, while filing the said form MGT-7A, the applicant inadvertently omitted and the option indicating ‘NIL’ Debentures was mistakenly selected under Clause IV relating to Debentures. The said form was digitally signed, and declaration made by Mr. Prerak Pankaj Kumar Shah, Director (DIN: 08005263).
Whereas the authorized signatory, who certifies e-form shall be responsible for the correctness of the contents of e-form and correctness of the enclosures attached with the electronic form as required under the proviso of Rule 8(3) of Companies (The Registration Office and Fees) Rules, 2014. Thus, Mr. Prerak Pankaj Kumar Shah, Director (DIN: 08005263) is liable to penalty subject to the provisions Section 450 of the Companies Act, 2013.
2. The Notice did not request for an E- hearing and the Adjudicating officer is also of the view that no E-hearing is required in the instant case. Since the Application is suo-motu and it is a case of admitted default, the Adjudicating officer is of the view that no E-hearing is required in the instant case.
E. Order:
1. A. Show Cause notice bearing ID: SCN/ADJ/07-2026/MH/05071 dated 09.07.2026 was issued to the Officer in default viz. Mr Prerak Pankajkumar Shah, Director (DIN: 08006263) (hereinafter referred to as the Notice) under Section 454 read with Section 450 of the Act for default under Rule 8(1) and Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014 of the Act on account of incorrect filing of E-form MGT-7A for FY 2022-23. A reply to the said Show Cause Notice was received on the E-adjudication portal on 18.07.2026.
B. The Noticee did not request for an E- hearing. In the instant case the Application is suo-motu and so it is a case of admitted default, the Adjudicating Officer is of the view that no E-hearing is required.
C. On perusal of the Application and upon consideration of the facts, it is observed that the Company had 13.5% Compulsorily Convertible Debentures (CCDS) outstanding aggregating to Rs. 3,50,00,000/-, which was correctly disclosed under the head Long-Term Borrowings filed in the Audited Financial Statements filed in e-Form AOC-4 vide SRN: F93308013. Further, the Company filed Annual Return in E-form MGT-7A for the F.Y. 2022-23 vide SRN F93413557 on 14.03.2024. However, while filing the form MGT-7A, the Clause IV relating to Debentures inadvertently got omitted and the option indicating ‘NIL’ Debentures was selected. The applicant has admitted the said error and stated that it was an inadvertent and unintentional error. The said form was digitally signed, and declaration is made by Mr. Prerak Pankaj Kumar Shah, Director (DIN: 08006263).
D. The Rule 8(1) and Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014 reads as under:
1. An electronic form shall be authenticated by authorised signatories using digital signature.
3. The authorized signatory and the professional, if any, who certify e-form shall be responsible for the correctness of the contents of e-form and correctness of the enclosures attached with the electronic form.
E. Further, the aforementioned E-form MGT-7A was digitally signed, and Declaration is given by Mr Prerak Pankajkumar Shah, Director (DIN: 08006263). Thus, he is liable for a penalty under Section 450 of the Act for default under Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014 of the Act.
F. The period of default is considered to be the date of filing Form MGT-7A that is 14.03.2024. Therefore, the officer in default namely Mr Prerak Pankajkumar Shah, Director (DIN: 08006263) shall be liable to a penalty of Rs. 5,000/- (Rupees Five Thousand Only). As per records of MCA21 the company is a small company as on 14.03.2024 and hence eligible for benefits available under section 446B of the Companies Act 2013.
G. Now, in exercise of the powers conferred on the Adjudicating Officer vide Notification dated 24th March 2015, I hereby impose a penalty of Rs. 5,000/- (Rupees Five Thousand only) on Mr Prerak Pankajkumar Shah, Director (DIN: 08006263) under Section 450 of the Act for default under Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014.
H. It is hereby clarified that while filing new Form MGT-7A, the Company shall not cause any change in its earlier attachment which was filed in E-Form MGT-7A vide SRN F93413557 on 14.03.2024.
I. Further, it is also clarified that order is limited to rectifying the mistake in E-form MGT-7A and it shall have no bearing except on rectification of E-form MGT-7A.
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 | PRERAK PANKAJKUMAR SHAH having DIN as 08006263 | 5000 | 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 I
