ROC Ahmedabad Slaps Penalty of Rs. 30,000 on Company and Its Two Directors for AOC-4 Filing Lapse:

ROC Ahmedabad Slaps Penalty of Rs. 30,000 on Company and Its Two Directors for AOC-4 Filing Lapse ROC Ahmedabad under the Ministry of Corporate Affairs (MCA), Government of India, has issued an Adjudication Order dated November 07, 2025, imposing a penalty on a company, Slice Small Finance Bank, bearing CIN U65100AS2016PLC017505, under Section 454 of the Companies Act, 2013 (‘The Act’) for contravention of Section 450 of the Companies Act, 2013. The case is related to the aforesaid company and its three directors, named Deep Chandra Joshi (DIN 00332709), Rupali Kalita (DIN 02114098), and Ranjit Goswami (DIN 07368429). For the violation of the aforesaid section under the Companies Act, the Ministry had issued a Show Cause Notice (SCN) dated November 04, 2019, through the CMS portal in the name of the former company, known as North East Small Finance Bank Limited. The filed reply to the notice, wherein it mentioned that although the Secretarial Audit Report (MR-3) was correctly attached with the Board Report and Form AOC-4, a mistake was made in Form AOC-4 by marking “No” instead of “Yes” against the question on the applicability of the Secretarial Audit.

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The ministry deeply examined the reply of the company and did not find it satisfactory. In conclusion, the Ministry approved prosecution against the company and its officers for violation of Section 204 of the Companies Act, 2013. Accordingly, a case was filed before the Chief Judicial Magistrate, Guwahati, against the company and its three directors for violation of section 204(1), liable for imposition of penalty under section 204(4) of the Companies Act, 2013, for the Financial Year 2016-17. The company requested an E-hearing; the authority accepted the request of the company and scheduled a hearing for November 07, 2025, which was attended by the company’s authorized representative. In conclusion of the hearing, the authority held the company and its three directors liable for penal action and imposed a penalty amounting to Rs. 10,000 on Slice Small Finance Bank Limited, Rs. 10,000 on Managing Director Ms. Rupali Kalita, and Rs. 10,000 on the certifying professional, Mr. Biman Debnath, FCS. No penalty was imposed on the other directors named, as no specific default was found against them.

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The company has been directed to correct the mistake by filing a fresh Form AOC-4 with correct details after marking the earlier approved form as defective. Additionally, directed the company to pay all the penalty amount within 90 days through the MCA e-Adjudication portal, and the individuals must pay from their personal funds. The order also asserted that if the company is not satisfied with the aforesaid action, it is allowed to appeal, challenging the same before the Regional Director, Guwahati, within 60 days. If the penalty is not paid within the prescribed time, the company can be liable for further penal consequences under Section 454(8) of the Companies Act.