The Registrar of Companies (ROC) in the matter of LA-FIN Financial Services Private Limited has imposed penalty of Rs. 35,000 on the Company and every director and key managerial personnel of the company who is in default.

The Company LA-FIN Financial Services Private Limited is a registered company under the provisions of the Companies Act, 1956 having its registered address: R-Square, Plot No. 29, Jai Hind CHS. Ltd. N. S. Road No. 12, JVPD Scheme, Vile Parle (W), Mumbai, Maharashtra-400 049. India, as per the MCA portal.

Facts about the case:

The company has filed a suo-moto application regarding the case against them. The applicant states that while uploading the Director report along with the financial statements for the year ended March 31, 2015, the said extract was erroneously missed due to oversight. Further, the entire set of financial statements, including MGT 9 along with the Directors report for the financial year ended March 31, 2015, was refiled online vide GNL 2 thereby requesting for replacing the incomplete/erroneous attachments filed in the e-form AOC 4 by the Company earlier.

The undersigned in the exercise of a power conferred under sub-Section 3 of Section 454 of the Companies Act, 2013 has issued a hearing notice dated 26.09.2023 to the Company and Officers in default for giving an opportunity to be heard and for submissions in the matter, if any. In response to the hearing notice, representatives of the Company, CS Abdul Karim Kazi and Shri R. Murlimohan appeared and gave consent to adjudicate and pass necessary orders for adjudicating the penalty as per the provisions of the Companies Act, 2013.

Thus, the presenting officer is of the opinion that the matter in issue for non-compliance with the provisions of section 136 of the Companies Act, 2013 shall be taken up for adjudication under section 454 of the Companies Act, 2013.

Whereas the company was required to file financial statements along with the required annexures in accordance with the relevant provisions of the Companies Act, 2013. However, the company failed to submit an extract of the annual return for the year ended March 31, 2015, to the registrar of companies. Also, the company has failed to provide additional details relating to CSR in their directors’ report. The matter in issue falls under the jurisdiction of the Registrar of Companies, Mumbai and the default is of a civil nature thereby attracting penalties under the provisions of Companies Act, 2013 and the rules made thereunder.

Order:

Having considered the facts and circumstances of the case and after considering the factors above, Hereby total penalty of Rs. 35,000 is imposed on the Company and every director and key managerial personnel of the company who is in default as per the table below for violation of provisions of section 136 of the Companies Act, 2013.

The Notice shall pay the said amount of penalty through the “Ministry of Corporate Affairs” portal and proof of payment be produced for verification within 90 days of receipt of this order.

Appeal against this order may be filed in writing with the regional Director (Western Region) within a period of 60 days from the date of receipt of this order in Form ADJ setting forth the grounds of appeal and shall be accompanied by a certified copy of this order.

Source : https://studycafe.in/roc-slaps-penalty-for-non-filing-of-mgt-09-along-with-directors-report-263011.html