A company was penalised for filing an incomplete and incorrect INC-22 for change of registered office. Startup status helped secure a reduced penalty under Section 446B.
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 order allows lenient scrutiny of appeal documents and simplifies certification requirements. Digitally generated GSTN documents need no certification, easing compliance.
The adjudicating authority penalised a company for not spending mandatory CSR funds and failing to transfer unspent amounts on time. Subsequent rectification did not erase liability for the original default.
The tribunal has instructed registries not to flag defects of form that do not affect merits. This eases compliance during early portal usage.
The ROC held that inability to produce statutory minutes amounts to a clear violation of Section 118. Historical loss of records due to flood does not absolve ongoing compliance obligations.
