Director Penalised for Incorrect AGM Date Disclosure in E-Form MGT-7 Filing

The Registrar of Companies (ROC), Mumbai, has issued an order of adjudication dated February 02, 2026, imposing a penalty amounting to Rs. 10,000 on the director of a company named Bombay Cloth Market Company Limited, under Section 454 of the Companies Act 2013.

The company in default had voluntarily filed an Adjudication Application dated January 23, 2026, under Section 454 of the Companies Act, 2013, acknowledging non-compliance committed by it by not furnishing E-form MGT-7 for FY 2024-25, which was a mandatory compliance requirement under the Companies Act.

As per Rule 8(1) and Rule 8(3) of the Companies (Registration Office and Fees) Rules, 2014, every electronic form must be digitally signed by an authorised person, and the person signing the form becomes liable for the correctness of the information disclosed and documents attached to it.

The disputed company asserted that due to a clerical error, it mentioned the Annual General Meeting due date as December 31, 2025, which was incorrect; the actual and correct date was September 30, 2025, in E-form MGT-7 filed on January 09, 2026, (SRN AC1076677). The form was digitally signed and declared by Mr Girish Bhagwanjibhai Dasani, who is the director of the disputed company.

Since the authorised signatory is responsible for the mistake in the form as per Rule 8(3), the office held the director liable for penal action under Section 450 of the Companies Act, 2013, and imposed a penalty amounting to Rs. 10,000 on him. Additionally, I asked him to pay the levied penalty amount and correct the aforementioned default within the time period of 90 days from the date of receiving the order.