ROC Chennai Penalises Nidhi Company for Delay in Filing MGT-14 for approval of accounts:

ROC Chennai Penalises Nidhi Company for Delay in Filing MGT-14 for approval of accounts On May 12, 2026, the Registrar of Companies in Chennai hit THIRUMALAI THIRUMAL NIDHI LIMITED with an adjudication order for breaking Section 117(1) read with Section 179(3)(g) of the Companies Act, 2013. The company had to file Form MGT-14 within 30 days of approving its financial statements and Board’s Report for the financial year ending March 31, 2023. But they missed the deadline. The Ministry of Corporate Affairs spotted this when they were reviewing the company’s NDH-4 application and actually rejected the application over this non-compliance. The company ended up filing the form much later on August 9, 2024 which was a 313-day delay. [related id="420549."] When the adjudication started, "the company argued that staff shortages and a legal fight with a former director were the reasons for the delay. Their representative asked for a lighter penalty". After looking over all the documents, the ROC decided both the company and its responsible director, THANGAVEL JOTHIRAJAN, were on the hook under Section 117(2) of the Act. So, they each got it with a penalty of Rs 41,300 . The ROC told them to pay up and fix the non-compliance within 90 days of getting the order.