Appointment of Adjudication Officer:-
The Ministry of Corporate Affairs vide its Gazette Notification No. A-42011/112/2014- Ad. II dated 24.03.2015 has appointed the undersigned as Adjudicating Officer in exercise of the powers conferred under section 454 of the Companies Act, 2013 (herein after known as Act) read with Companies (Adjudication of Penalties) Rules, 2014 for adjudging penalties under the provisions of this Act.
Company
Whereas, Company Mis. Vyaysayi Bachat Evam Sakh Swarnlambi Nidhi Limited, CIN: U65990BR2015nCO23450 (herein after known as Company) is a company incorporated on 07.01.2015 under the provisions of Companies Act, 1956/2013 in the state of Bihar and having its registered office situated at Tola Utari, Singhwara Darbhanga Patna Bihar 847123, India as per MCA website.
Facts about the case
- Whereas, during the course of inspection it has been noticed that the total number of members has been shown as 7291 in NDH-3 as on 31.03.2016 filed by the company whereas as per record maintained with this office no such return of allotment of shares to 7291 members in Form PAS -3 has been filed by the company which is required to be filed with the Registrar under provision of section 39(4) of the Companies Act, 2013. This office has issued notice under section 39 of the companies Act, 2013 to the company and its directors vide letter dated 07.03.2023, for which no reply has been received.
- Whereas, this office has not received any reply from the company and its directors. Hence, it appears that the provisions of Section 39(4) of the Companies Act, 2013 has been contravened by the company and its directors/officers and therefore they are liable for penalty u/s 39(5) of the Companies Act, 2013.
Section 39(5) states that:- “In case of any default under sub-section (3) or sub-section (4), the company and its officer who is in default shall be liable to a penalty, for each default, of one thousand rupees for each day during which such default continues or one lakh rupees, whichever is less.”.
- Further Section 446B states that “if penalty is payable for non-compliance of any of the provisions of this Act by a One Person Company, small company, start-up company or Producer Company, or by any of its officer in default, or any other person in respect of such company, then such company, its officer in default or any other person, as the case may be, shall be liable to a penalty which shall not he more than one-half of the penalty specified in such provisions subject to a maximum of two lakh rupees in case of a company and one lakh rupees in case of an officer who is in default or any other person, as the case may be”.
- As per clause 85 of section 2 of the Companies Act, 2013, small company means a company whose paid up capital and turnover shall not exceed rupees four crore and rupees forty crore respectively. As per MCA portal, paid up capital of the company- Vyaysayi Bachat Evam Sakh Swarrilambi Nidhi Limited is Rs. 5,00,000 and as regard to turnover, the company has shown turnover of Rs 5,03,12,600 in the ADC-4 filed with the office for year ending 31.03.2022. Therefore, the benefits of small company is extended to this company while adjudicating penalty.
Order
Having considered the facts and circumstances of the case, and after taking into account the factors above, I hereby impose a penalty on Company, and its Directors as per Table Below under section 39 (5) of the Act for failure in compliance of section 39 (4) of the Companies Act, 2013
Nature of | Violation of | Company/ | No. of | I Penalty for defaults (Rs.) as | Maximum | Penalty Imposed (Rs.) As per Sec. |
Non-filing | Section 39(4) | Vyaysayi Bachat | 2559 | 2559*1000 | 1,00,000 | 50,000 |
of PAS-3 |
| Evam Sakh |
| =25,59,000 |
|
|
|
| Swamiambi |
|
|
|
|
|
| Nidhi Limited |
|
|
|
|
Non-filing | Section 39(4) | Shri Anjay | 2559 | 2559*1000 | 1,00,000 | 50,000 |
of PAS-3 |
| Kumar |
| =25,59,000 |
|
|
Non-filing | Section 39(4) | Shri Asheshwar | 2559 | 2559*1000 | 1,00,000 | 50,000 |
of PAS-3 |
| Sahani |
| ,–—25,59,000 |
|
|
Non-filing | Section 39(4) | Shri Ashok | 2559 | 2559*1000 | 1,00,000 | 50,000 |
of PAS-3 |
| Kumar Pandey |
| =25,59,000 |
|
|
Non-filing | Section 39(4) | Ms. Anita | 2559 | 2559*1000 | 1,00,000 | 50,000 |
of PAS-3 |
| Kurnari |
| =25,59,000 |
|
|
Non-filing | Section 39(4) | Shri Surya | 2559 | 2559*1000 | 1,00,000 | 50,000 |
of PAS-3 |
| Narayan Prasad |
| —25,59,000 |
|
|
(* No of days have been calculated from 31.03.2016 to till date of order, i.e., 03.04.2023)
- The noticee shall pay the amount of penalty individually for the company and its directors (out of own pocket) by way of e-payment (available on Ministry website mca.gov.in) under “Pay miscellaneous fees” category in MCA fee and payment Services within 90 (ninety) days of this order. The Challan/ SRN generated after payment of penalty through online mode shall be forwarded to this office.
- Appeal against this order may be filled in writing with the Regional Director (ER), Ministry of Corporate Affairs, Kolkata, within a period of 60 (sixty) days from the date of receipt of this order, in Form AD] (available on Ministry website mca.gl_ay.in) setting forth the grounds of appeal and shall be accompanied by a certified copy of this order {Section 454(5) and 454(6) of the Act read with Companies (Adjudication of Penalties) Rules, 2014}.
- Your attention is also invited to section 454(8) of the Act in the event of non-compliance of this order.
(Aparajit Barua)
Adjudicating Officer &
Registrar of Companies-Cum-
Official Liquidator, Patna.