Non-Appointment of Whole-Time Company Secretary Costs BMW Ventures Limited and its Directors Rs 13.28 lakh Penalty

The Registrar of Patna (ROC) has passed an adjudication order under Section 454 of the Companies Act, 2013 against BMW Ventures Limited for violation of Section 203(5) relating to the appointment of a Company Secretary within the stipulated time given in the statute after the increase in the paid-up capital of the company.

On 4th of November 2016, had the paid-up share capital of Rs 10.55 crore, and it had not appointed Company Secretary which is a statutory requisite after crossing the prescribed paid-up capital threshold following a 6-month time period up to May 4, 2017 to effect the compliance but the company delayed the appointment to the month of August in 2017 and caused an unexplained delay of 88 days. On May 18 2026, a representation hearing was conducted and the representative of the company admitted that there was a delay of 88 days.

The Adjudicating Officer exercised the powers under Section 454 of the Companies Act, 2013 and confirmed the default in compliance without any exemption. The total finance penalty imposed was Rs 13,28 lakhs including the penalty of Rs 500000 on BMW Ventures Limited and Rs 138000 on its directors named Bijay kumar Kishorepuria, Nitin Kishorepuriya, Sabita Devi Kishorepuriya, Rachna Kishorepuriya, Navneet Ranjan and Rachita Kedia.

An appeal against this adjudication can be structured and filed with the Regional Director (RD), Kolkata, within sixty days.