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.
The ROC held that uploading incorrect data and attachments in a statutory return constitutes a completed contravention. Later correction requests cannot wipe out penalty liability.
The ROC held that inability to produce the Register of Members amounts to a clear violation of Section 88, attracting a mandatory penalty despite historical circumstances.
The authority held that non-maintenance of statutory minutes attracts a fixed penalty even if records were destroyed due to unforeseen events. Flood damage was treated as mitigation, not a defence to statutory liability.
