ROC Imposes Penalty on company for failing to alter objects as per change in business line

The Registrar of Companies (ROC) Kanpur has issued an order of adjudication dated February 04, 2026, imposing a penalty amounting to Rs. 1.75 lakh on a company named Meta Tech Ventures Private Limited and its three directors under Section 454 of the Companies Act 2013.

The disputed company was established in 2018. Since its establishment, the company has been engaged in business according to its objectives. In September 2024, the company got involved in some additional activities, including Information Technology (IT) for its overall development. An Extraordinary General Meeting was conducted on November 03, 2025; there, the company issued a special resolution to amend its Memorandum of Association.

The aim of this action is to grow and match their objectives with the company’s existing and suggested business activities. However, to register the said special resolution, the company did not furnish Form MGT-14 dated November 06, 2025. This reflected an explicit violation of the provisions of Section 4 (1) (c) of the Companies Act, 2013.

Considering the same, the concerned authority held the company and its directors liable for penal action under section 450 of the Companies Act, 2013, and hence imposed a penalty amounting to Rs. 1 lakh on the company, Meta Tech Ventures Private Limited and Rs. 75,000 on its three directors named Raj Kumar Agrawal, Megha Agrawal, and Tripti Verma (Rs. 25,000 on each). Additionally, directed to pay the imposed penalty amount and rectify the default within 90 days of receiving the order.