ROC Slaps Penalty on Company and Its Directors for Delay in Filing Form MGT-14:

ROC Slaps Penalty on Company and Its Directors for Delay in Filing Form MGT-14  The disputed company had passed a Special Resolution for Private Placement on January 24, 2022. The rules mandate filing this proposal in Form MGT-14 within the prescribed period under Section 117(2) of the Companies Act 2013. However, the company filed the said form on September 03 2025, vide SRN AB6080095 and the same was taken on record on September 09 2025. The company accepted the delay and submitted the adjudication application on August 22, 2025. Based on available records, penalty proceedings were conducted against the company and its “officers in default" under Section 454. A penalty of Rs 69,400 has been imposed on the company, while Rs 25,000 has been imposed on each officer in default, leading to a total penalty of Rs 1.44 lakh. The concerned authority further directed the company and its directors to rectify the default and deposit the prescribed penalty within 90 days of receiving the order.