The Registrar of Companies (ROC) Mumbai adjudicated penalties under Section 454 of the Companies Act, 2013 on Pan Gulf Technologies Limited and its Managing Director, Prashant Moreshwar Mokashi, for violation of Section 134(3)(o) read with Rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014. The company failed to attach the Annual CSR Report with its Board’s Report for FY 2021-22, which was filed via E-form AOC-4 on 31 October 2022. The default was admitted as unintentional and due to lack of expertise. ROC considered that the company does not fall under the small company definition; therefore, Section 446B is inapplicable. Consequently, a penalty of ₹3,00,000 was imposed on the company and ₹50,000 on the officer in default. The penalties are payable within 90 days through the e-Adjudication portal, from personal sources by the officer. Appeals may be filed with the Regional Director within 60 days.
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/12-2025/MB/01015 | Dated: 02/12/2025
ORDER FOR ADJUDICATION OF PENALTY UNDER SECTION 454 OF THE COMPANIES ACT, 2013 (‘THE ACT’) FOR VIOLATION OF SECTION 134(8) OF THE COMPANIES ACT, 2013.
A. Appointment of Adjudicating Officer:
Ministry of Corporate Affairs vide its Gazette notification number S.O. 831(E) dated 24/03/2015appointed 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 PAN GULF TECHNOLOGIES LIMITED [herein after known as Company] bearing CIN U72200MH1999PLC189789, is a company registered with this office under the Provisions of the Companies Act, 2013/1956 having its registered office situated at A WING, 6TH FLOOR, LODHA I THINK TECHNO CAMPUS POKHRAN ROAD NO 2, BEHIND TCS NA THANE WEST MAHARASHTRA INDIA 400607
Individual details:
In the matter relating to PRASHANT MORESHWAR MOKASHI_________
C. Provisions of the Act:
(8) If a company is in default in complying with the provisions of this section, 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 – Whereas the Registrar of Companies, Mumbai (hereinafter referred to as the ROC) is in receipt of a suo-motu Adjudication Application dated 01.10.2025 filed by the Company and its Director namely Mr. Prashant Moreshwar Mokashi (DIN: 01872698), (hereinafter referred to as the Applicants) under section 454 read with Section 134(8) for default under Section 134(3)(o) of the Companies Act, 2013 with respect to failure to include the Annual Report of CSR in the Board Report.
Whereas section 134(3) (o) reads as follows:
(3) There shall be attached to statements laid before a company in general meeting, a report by its Board of Directors, which shall include?
(o) the details about the policy developed and implemented by the company on corporate social responsibility initiatives taken during the year;
Whereas with Rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014 reads as follows:
(1)The Board’s Report of a company covered under these rules pertaining to any financial year shall include an annual report on CSR containing particulars specified in Annexure I or Annexure II, as applicable.
Whereas the Applicants have stated that the Company had inadvertently failed to attach the Annual Report of CSR prepared in accordance with Rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014 with the Director?s Report filed for the Financial Year 2021-2022, in contravention of provisions of section 134(3) (o) read with Rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014 of the Act.
2. The Noticees did not request for an E-hearing and the Adjudicating officer is also of the view that E-hearing is not required in the instant case.
E.Order:
1. A Show Cause notice bearing ID: SCN/ADJ/11-2025/MB/02853 dated 07/11/2025 was issued to the Company and its Officer in default namely Mr. Prashant Moreshwar Mokashi, Managing Director (DIN: 01872698) (hereinafter referred to as noticees) under Section 454 read with Section 134(8) for default under Section 134(3)(o) of the Act read with Rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014 for the Financial Year (hereinafter referred to as F.Y.) 2021-22.
B.The noticees replied to the said Show Cause Notice on the E-adjudication portal on 20.11.2025 and admitted the default under the aforementioned provisions. They further submitted as follows:
i.The default of Section 134(3)(o) of the Act read with Rule 8(1) of the Companies (Corporate Social Responsibility Policy)
Rules, 2014 of the Act for the F.Y. 2021-22 was inadvertently committed due to lack of knowledge and expertise in the given subject matter.
ii.The said default was unintentional and there is an absence of mens rea.
iii.The Adjudicating officer is requested to conclude the proceedings without a hearing.
C.The Noticees did not request for an E-hearing and the Adjudicating officer is also of the view that E-hearing is not required in the instant case.
D. On perusal of the E-form AOC-4 for F.Y. 2021-22 filed by the Company vide SRN F37454865 dated 31.10.2022, it is observed that the Company did not attach CSR report with the Directors Report in the said E-form.
E .Considering the facts and circumstances of the case, I am of the view that the Company admittedly failed to attach the Annual Report of CSR with the Directors Report filed for the F.Y. 2021-2022, in contravention of provisions of section 134(3)(o) of the Act read with Rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014.
F.The date of default is considered as the date of filing of Directors Report in E-form AOC-4 for F.Y. 2021-2022 that is 31.10.2022.
G. The Subject Company does not fall within the definition of a Small Company under the provisions of Section 2(85) of the Act as during the period of default the paid up capital is Rs.20,000,000/- and the turnover for its preceding F.Y. 2020-21 is Rs.578,804,537/-. Therefore, the provisions of Section 446B of the Companies Act, 2013 shall not be applicable to the Company and its every officer who is in default.
H. Now, in exercise of the powers conferred on the Adjudicating Officer vide Notification dated 24th March 2015, I hereby impose a penalty of Rs.3,00,000/- (Rupees Three Lakh only) on the Company and Rs.50,000/- (Rupees Fifty Thousand Only) on its Officer in default namely Mr. Prashant Moreshwar Mokashi, Managing Director (DIN: 01872698) under Section 134(8) for default under Section 134(3)(o) of the Act read with Rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014.
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 | PAN GULF TECHNOLOGIES LIMITED having CIN as U72200MH1999P LC189789 | NA | 300000 | 0 | 300000 |
| 2 | PRASHANT MORESHWAR MOKASHI having DIN as 01872698 | NA | 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
