Company and Directors Fined for Non-Disclosure of Registered Office Change: ROC

The Registrar of Companies (ROC), Bangalore, has imposed a 2.14 lakh penalty on the company, Minance Investment Advisors Private Limited, and its two directors for committing non-compliance under Section 12(8) of the Companies Act, 2013.

A company under the provisions of Section 12(3)(c) of the Companies Act, 2013, is obligated to mention the address of its registered office and the CIN number on its official documents, like Business letters, billboards, and letterhead. However, letters sent to the company at its registered address, i.e., No. 35/37 (Old No. 598), 11th Main Road, Jayanagar, 5th Block, Bangalore – 560041, were returned undelivered with the remark that no such person or firm exists at the mentioned address.

It was, furthermore, noted that the company had not furnished Form INC-22, informing about the revision in the registered office address. Moreover, physical verification at the registered office of the disputed company was conducted on February 26, 2024, where it was discovered that the company had already vacated the premises on May 08, 2019, after its lease expired. The proprietor had given a copy of the officially registered document showing that the lease was surrendered on May 08, 2019. Meaning the disputed company had not been operating at its registered office since May 8, 2019; however, it still did not inform the Registrar of Companies (ROC) about the same within the legally allowed time limit of 30 days.

Consequently, the company and its directors were liable for penal action for committing a violation under Section 12 of the Companies Act, 2013. Considering the same, the concerned authorities imposed a penalty of Rs 1 lakh on the company, Minance Investment Advisors Private Limited and Rs 1.14 lakh on its two directors, Anurag Bhatia and Sarbashish Basu.

They have been instructed to pay the imposed penalty amount and rectify the default within 90 days of receiving the order.