The issue involved non-compliance with approval requirements for related party transactions. The authority held that absence of Board resolution violates Section 188. The key takeaway is that proper approvals are mandatory for such transactions.
The issue involved non-compliance with mandatory appointment of a Company Secretary. The authority imposed penalties for violation of Section 203. The takeaway is that eligible companies must appoint key managerial personnel without exception.
The issue involved non-compliance with mandatory internal auditor appointment requirements. The authority imposed penalties as the company exceeded the turnover threshold but failed to comply. The takeaway is that audit requirements are strictly enforced.
The ROC imposed penalties on directors for not maintaining the mandatory register of members. The key takeaway is that statutory registers must be maintained at all times. Non-compliance attracts fixed penalties.
The case addresses non-disclosure of directors’ interests in related entities. Authorities imposed penalties, reinforcing strict compliance with Section 184 disclosure requirements.
The authority penalized directors for entering into non-cash transactions without prior approval through a special resolution. It reinforces that shareholder consent is mandatory for such arrangements under Section 192.
The authority penalized the company for submitting incomplete and inconsistent member data under Rule 14(6). It held that technical issues or pending approvals do not justify defective statutory disclosures, reinforcing strict compliance standards.
The authority penalized the company for failing to file return of allotment under Section 39(4), rejecting the argument of MCA portal issues. The key takeaway is that technical difficulties do not excuse statutory non-compliance.
The authority imposed penalty for failure to file SH-7 after increasing authorised capital. The key takeaway is that statutory filings cannot be skipped even due to technical issues.
The amendment introduces a system where assets from foreign contributions vest in a designated authority upon cancellation or cessation of registration. This ensures better control and prevents misuse of foreign-funded assets.
