ROC Goa imposed penalties after finding violations of AS-09 and AS-15 reflected in the auditor’s report for FY 2021-22. The order held that failure to ensure proper compliance in the Directors’ Responsibility Statement attracted independent liability under Section 134(5A).
The adjudication proceedings began after the Ministry of Corporate Affairs rejected the company’s NDH-4 application due to non-compliance with financial statement filing requirements. The ROC subsequently imposed penalties for delayed filing.
The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research purposes. The approval remains valid from AY 2026-27 to AY 2030-31 and enables tax benefits linked to scientific research.
ROC Chennai held that delayed filing of Form MGT-14 for Board resolutions approving accounts constituted non-compliance under Section 117(1). Monetary penalties were imposed on both the company and officers in default.
ROC Chennai penalised a company and its directors for non-filing of Form MGT-7 for FY 2022-23, holding the default violated Section 92(4) of the Companies Act.
ROC Mumbai penalized a company and its officers for failing to fill vacancies of independent directors within the statutory timeline. The order reinforces strict compliance requirements under Section 149(4) of the Companies Act.
The adjudicating authority held that the company remained in continuous default for several years after becoming legally required to appoint a Company Secretary. The order emphasizes strict enforcement of corporate governance obligations relating to key managerial personnel appointments.
CBIC extended the validity of multiple customs circulars issued under Section 143AA until 30 June 2026 because of ongoing maritime disruptions caused by the closure of the Strait of Hormuz.
CBIC has mandated system identification and expedited clearance of hazardous cargo through flagged Bills of Entry. Importers must declare hazardous goods at item level from 01 July 2026.
PFRDA relaxed earlier restrictions on annuity surrender after receiving hardship representations from subscribers. The circular now permits surrender in cases involving critical illness of the annuitant or family members subject to ASP assessment.
