Errors and omissions in the annual return were held to violate Section 92. Even timely filing does not cure defective disclosures, though penalties were reduced for a startup.
The adjudicating authority held that utilisation of application money before filing PAS-3 violates Section 42. Even procedural deviations in private placement can trigger substantial penalties.
Failure to attach the EGM notice and explanatory statement in statutory filings was held to violate Rule 13(d). The key takeaway is that procedural lapses attract penalties even where shareholder approval exists.
The regulator held that issuing securities through private placement without a registered valuer’s report violates Section 62(1)(c). A reduced penalty was imposed considering start-up status.
A company was penalised for long-term non-compliance with mandatory appointment of a Company Secretary. The order reiterates strict enforcement of Section 203 of the Companies Act.
The notification exempts specified non-commercial e-governance income such as government grants, service charges, and consultancy receipts from tax. The key takeaway is that exemption applies only if statutory conditions are strictly followed.
The government has granted Section 10(46) tax exemption to a welfare board for cess, fees, and interest income. The relief applies retrospectively, subject to strict compliance conditions.
The notification exempts specified grant and interest income from tax. The benefit is conditional on non-commercial activities and proper return filing.
The amendment revises the HVDLE classification threshold from ₹1,000 crore to ₹5,000 crore. This significantly reduces governance and disclosure compliance for smaller debt-listed entities.
The issue is chronic delays in filing Food Safety Compliance Returns. The key takeaway is graded penalties and licence suspension for prolonged non-filing.
