The issue was whether SBO exists without majority shareholding. The authority held that control and influence also determine SBO, making non-disclosure a violation.
The authority penalized directors for executing related party transactions without fresh or valid approvals. It held that reliance on outdated resolutions violates Section 188. The ruling stresses strict approval requirements.
The issue involved non-appointment of an internal auditor despite meeting turnover criteria. The authority held that failure to comply attracts penalty under Section 450.
The issue involved failure to appoint independent directors within the prescribed timeline. The authority held that delay constituted a violation, leading to penalties on the company and its officers.
ROC imposed significant penalties for failing to constitute mandatory committees on time. The ruling makes it clear that delayed compliance does not excuse violations. Companies must adhere strictly to corporate governance timelines under the Companies Act
ROC imposed penalties for delay in filing MGT-14 beyond 30 days. The ruling stresses strict compliance with statutory filing timelines.
The ROC penalized the company for a substantial delay in filing board resolutions. It held that compliance deadlines under the Companies Act are strict and cannot be ignored.
ROC imposed penalties for delayed filing of Form MR-1 beyond the 60-day limit. The ruling highlights strict compliance requirements for director appointments.
The ROC penalized the company for filing board resolutions after the 30-day limit. It held that statutory timelines under the Companies Act are mandatory and cannot be ignored.
The company relied on old resolutions for ongoing related party transactions. The authority held that fresh approvals are mandatory, imposing penalties for non-compliance.
