ROC Issues Penalty Order for Non-Filing of DIR-12 for Director’s Resignation

The Registrar of Companies, Bangalore, issued an order to Minance Investment Advisors Private Limited and its officer, Anurag Bhatia, on March 31, 2026.

This order has been issued under Section 454 of the Companies Act, 2013, in which a penalty has been imposed on the company and its officers for violation of Section 172. The order details the legal violations committed by the company and the penalties imposed as a result.

During the investigation in this case, it was found that Pankaj Mahanty (director of the company) had resigned from his post on September 19, 2019. But the required form DIR-12 related to his resignation has not been filed on time by the company. This is a serious legal lapse because, as per Section 170(2) of the Companies Act, 2013, it is mandatory for the company to update the records of its directors.

Furthermore, this violation comes under Rule 18 of the Companies (Appointment and Qualification of Directors) Rules, 2014. Also, the company and its officials did not submit any reply in this matter through the e-module.

Although they were given an opportunity to be heard by the ROC, no satisfactory response has been given.

Therefore, this order has been passed considering the available records and the non-compliance status of the company.

This violation resulted in the following penalties:

• Minance Investment Advisors Private Limited has been fined Rs 300,000.
• Anurag Bhatia has been fined Rs 100,000
• No additional penalty has been imposed in either of the cases.

Also, the order directed that the company and the concerned authorities rectify the default and deposit the penalty within 90 days.