ROC Imposes Penalty for 2-Day MGT-15 Filing Delay; Company Blames MCA Portal Glitches:

ROC Imposes Penalty for 2-Day MGT-15 Filing Delay; Company Blames MCA Portal Glitches The Registrar of Companies (ROC), Coimbatore imposed a penalty of Rs 1,02,000 on Ambika Cotton Mills Limited and an aggregate penalty of Rs 78,000 on three of its Key Managerial Personnel (KMPs), amounting to Rs 26,000 per individual under section 454 if the Companies Act, 2013 for delay of two days in filings of Form MGT-15. The company had submitted a representation to the ROC explaining that the delay was caused by technical issues on the MCA portal. As per the company, the portal frequently experienced some glitches during that period. The form was filed immediately when the portal allowed for submission, along with the additional fees. The company also noted that one of the delayed days was a Sunday. Despite these submissions, the ROC’s order did not consider the company’s legal arguments. However, the company plans to file an appeal against the ROC’s order before the Regional Director, RD Chennai, within the statutory timeframe. Click on the link given below to read complete Announcement