Sl.No.

Company Against which the order is passed & date

Violation /Default by the Company

Relevant provisions of the Act which are applicable

Penalty Imposed

01

Mantle Solutions Private Limited

02-08-2024

1153 days default /failure to file Form BEN -2 within the time as mandated the Section 90 of the Companies Act 2013

Section 90 (4) of the Companies Act 2013 stipulates that every company shall file a return of Significant Beneficial Owners of the company and changes therein in Form BEN -2 within 30 days from the date of receipt of declaration from Significant Beneficial Owner  as prescribed in Rule 4 of the Companies                   ( Significant Beneficial Owners) Rules 2018.

Penalty Imposed as per Section 90(11) :If a company, required to maintain register under sub-section (2) and file the information under sub-section (4) or required to take necessary steps under sub-section (4A), fails to do so or denies inspection as provided therein, the company shall be liable to a penalty of one lakh rupees and in case of continuing failure, with a further penalty of five hundred rupees for each day, after the first during which such failure continues, subject to a maximum of five lakh rupees and every officer of the company who is in default shall be liable to a penalty of twenty-five thousand rupees and in case of continuing failure, with a further penalty of two hundred rupees for each day, after the first during which such failure continues, subject to a maximum of one lakh rupees.

02

Chemmanur Gold Palace International Limited

02-08-2024

71 days default /failure to file Form BEN -2 within the time as mandated the Section 90 of the Companies Act 2013

-do-

03

Rybbon Digital Rewards India Pvt Ltd

12-08-2024

More time gap in between two consecutive board meetings in violation of Section 173 (1) of the Companies Act 2013 (The company  had had filed an application GNL -1 before RoC for suo-moto adjudication of non-compliance of section 173 (1) of the Companies Act 2013)

73. (1) Every company shall hold the first meeting of the Board of Directors within thirty days of the date of its incorporation and thereafter hold a minimum number of four meetings of its Board of Directors every year in such a manner that not more than one hundred and twenty days shall intervene between two consecutive meetings of the Board:

Provided that the Central Government may, by notification, direct that the provisions of this sub-section shall not apply in relation to any class or description of companies or shall apply subject to such exceptions, modifications or conditions as may be specified in the notification.

Rs.25000 * 3 = Rs.75000

73. (4) Every officer of the company whose duty is to give notice under this section and who fails to do so shall be liable to a penalty of twenty-five thousand rupees.

04

V Guard Industries Limited

Violation of Section 152 (6)

2013 (The company  had had filed an application GNL -1 before RoC for suo-moto adjudication of non-compliance of section 152 (6) of the Companies Act 2013)

Section 152 (6) (a) Unless the articles provide for the retirement of all directors at every annual general meeting, not less than two-thirds of the total number of directors of a public company shall—

(i) be persons whose period of office is liable to determination by retirement of directors by rotation; and

(ii) save as otherwise expressly provided in this Act, be appointed by the company in general meeting.

(b) The remaining directors in the case of any such company shall, in default of, and subject to any regulations in the articles of the company, also be appointed by the company in general meeting.

(c) At the first annual general meeting of a public company held next after the date of the general meeting at which the first directors are appointed in accordance with clauses (a) and (b) and at every subsequent annual general meeting, one-third of such of the directors for the time being as are liable to retire by rotation, or if their number is neither three nor a multiple of three, then, the number nearest to one-third, shall retire from office.

(d) The directors to retire by rotation at every annual general meeting shall be those who have been longest in office since their last appointment, but as between persons who became directors on the same day, those who are to retire shall, in default of and subject to any agreement among themselves, be determined by lot.

(e) At the annual general meeting at which a director retires as aforesaid, the company may fill up the vacancy by appointing the retiring director or some other person thereto.

Explanation.—For the purposes of this sub-section, “total number of directors” shall not include independent directors, whether appointed under this Act or any other law for the time being in force, on the Board of a company.

Rs.50000/- + ( Rs.500 * 306=Rs.153000 for continuing default ) =Rs.203000

 159. If any individual or director of a company makes any default in complying with any of the provisions of section 152, section 155 and section 156, such individual or director of the company shall be liable to a penalty which may extend to fifty thousand rupees and where the default is a continuing one, with a further penalty which may extend to five hundred rupees for each day after the first during which such default continues.