ROC Imposes Penalty on Company and its Directors for Not Filing Financial Statement:

ROC Imposes Penalty on Company and its Directors for Not Filing Financial Statement The Registrar of Companies (ROC), Kolkata, has passed a penalty order against a company over the failure to file financial statements. Based on the data at the MCA Portal, it was found that the company, Multi Purpose Bios India Limited, did not file its financial statements for the financial year 2022-23 with the ROC, violating the provisions of section 137 of the Companies Act. The ROC issued several notices, but the company neither replied nor submitted any documents.

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ROC Waives Penalty in Annual Return Filing Default Case Citing Voluntary Compliance

As per section 137, the companies must file their adopted financial statements, including the consolidated statements, auditor's report, and board reports, with the ROC through Form AOC-4 within 30 days of their Annual General Meeting (AGM). Accordingly, the ROC imposed a fine of Rs 88,500 and Rs 50,000 each on its 2 directors. The directors must correct the default and pay the penalty within 90 days through the 'e-Adjudication' facility available on the MCA portal.