IBBI held that continuous membership of a Registered Valuers Organisation is mandatory. Once expelled by the RVO, a valuer becomes ineligible to continue registration.
The regulator held that expulsion from a Registered Valuers Organisation results in loss of eligibility, justifying immediate cancellation of registration.
The Registrar penalised a company for missing mandatory disclosures in share allotment filings. The order clarifies that even inadvertent procedural lapses attract penalties, though relief may apply to eligible start-ups.
The order holds that missing mandatory disclosures in share issue filings violate Section 62 read with Rule 13. Even inadvertent procedural lapses can trigger penalties under the residual provision of the Companies Act.
The adjudicating authority held that filing an AOC-4 with incorrect particulars attracts penalty even if the error is later admitted and rectified. Administrative correction does not nullify the completed contravention under the Companies Act.
Incomplete disclosures in MGT-14 during share allotment led to adjudication under the Companies Act. Reduced penalties were imposed after applying start-up and small company relief.
Failure to include mandatory disclosures in MGT-14 during share allotment led to adjudication. Start-up and small company relief under Section 446B resulted in reduced penalties.
ROC Mumbai held that omission of mandatory details in AOC-4 makes the authorised signatory liable. A ₹10,000 penalty was imposed for violation of filing rules.
The adjudicating authority held that omission of mandatory documents and incorrect disclosure in PAS-3 violated Section 42. Monetary penalties were imposed with directions to rectify the filing.
Penalties were levied after directors’ DINs were found deactivated for non-compliance with Rule 12A. The key takeaway is that even procedural defaults invite statutory penalties.
