Chennai ROC Imposes Penalty on Company for Delay in Filing Form MGT-6

The Registrar of Companies (ROC), Chennai, has imposed a penalty on a company and its Managing Director, Vinod Mangharam Mahtani, for not filing Form MGT-6 within the required time.

The company, Medident India Pvt Ltd, failed to submit Form MGT-6, meant for the declarations of beneficial ownership of the shares, within the specified 30-day deadline. Even though the shareholder had submitted the declaration of registered and beneficial ownership details to the company, the company filed MGT-6 with a delay of 3874 days.

This action has violated Section 89(6) read with Rule 9 of the Companies (Management and Administration) Rules, 2014, which requires companies to file Form MGT-6 with the ROC within 30 days of receiving the declarations from the shareholders regarding the beneficial interest in shares.

Therefore, the ROC passed a penalty order against the company and its directors under section 454 of the Companies Act for the violation of section 89(7) of the Companies Act.

Accordingly, the registrar levied a penalty of Rs 5 lakh on the company and Rs 2 lakh on the director. The directors are required to pay their penalty from their own funds through the ‘e-Adjudication’ facility on the MCA portal.