The case deals with a 235-day delay in transferring unpaid dividend to the mandated account. The authority imposed penalties, emphasizing strict compliance with statutory timelines under the Companies Act.
ROC imposed heavy penalties for not mentioning directors’ DIN in financial statements. The ruling emphasizes strict compliance with Section 158 requirements under the Companies Act.
The authority imposed penalties as the company failed to maintain a functional registered office for receiving notices. It held that non-receipt of statutory communications constitutes a continuing default under the law.
The authority penalized the company for failing to disclose complete allottee details in statutory returns. The ruling reinforces strict compliance requirements for accurate PAS-3 filings.
ROC imposed penalties for failure to file MGT-14 related to board resolutions approving financial statements. The ruling highlights strict compliance requirements under Section 117(2) of the Companies Act.
Authorities imposed penalties due to failure to disclose complete allottee details in PAS-3. The case highlights strict compliance requirements under allotment rules and consequences of incomplete filings.
The case addresses non-disclosure of allottee details in statutory filings, leading to regulatory action. The authority imposed penalties for violating disclosure rules and emphasized strict compliance with filing requirements.
The IBBI held that forming a Committee of Creditors without verifying claims violates core insolvency principles. The ruling emphasizes that claim verification is mandatory before granting voting rights or conducting CoC meetings.
The Disciplinary Committee held that reconstituting the CoC without prior approval of the Adjudicating Authority violates established legal principles. Subsequent approval does not cure the initial procedural breach. The decision underscores limits on the powers of resolution professionals.
A key land asset was excluded from the CIRP, leading to rejection of the resolution plan. The regulator held that failure to include and regularize ownership violated duties and warranted suspension.
