Company's Managing Director Penalised for Certifying Incorrect E-Form:

Company's Managing Director Penalised for Certifying Incorrect E-Form The Registrar of Companies (ROC), Mumbai, has imposed a penalty on a company's director (authorized signatory) for certifying incorrect details in the E-form. The case is about the company, Chheda Jewellers Limited, which filed its annual return (Form MGT-7) for FY 2022-23. However, due to a clerical mistake, the company mentioned the wrong date of the Annual General Meeting.

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Filing incorrect details in E-form MGT-7 is a violation. As per Rule 8(1) and (3) of the Companies (The Registration Office and Fees) Rules, 2014, e-forms must be authenticated by authorized signatories, and the authorized signatory and the certifying professional are responsible for the correctness of the form's contents. In the present case, Mr Parag Kuvarji Chheda, Managing Director, had signed the said form and gave a declaration. Therefore, the ROC held the managing director liable for the penalty for the violation of Rule 8(1) and (3) of the Companies (The Registration Office and Fees) Rules, 2014.

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Accordingly, he was fined Rs 10,000, which was required to be paid within 90 days through the e-Adjudication facility on the MCA website.