Section 450 Violation: ROC Fines Company and Director Over Conversion Filing Delay:

Section 450 Violation: ROC Fines Company and Director Over Conversion Filing Delay The Registrar of Companies (ROC), Uttarakhand, has levied a penalty amounting to Rs 20,000 on the company, Sanjeevani Agrofoods Limited and its director for non-compliance with the provisions of Section 450 of the Companies Act 2013. The company, Sanjeevani Agrofoods Limited, is registered under the Companies Act 2013, possessing a registered office at Khasra No. 148, Cha Mauza Chandrabani Khalsa Mohbewala, Dehradun, Uttarakhand, India 248002.

Also Read

ITAT Holds Technical Delays Should Not Override Principles of Justice; Condones Form 10B Delay

The company was converting from a public limited to a private limited, for which it was required to furnish an application under Section 14 of the Companies Act 2013. However, the same was filed late by one day. Consequently, the company and its director, Mr Tara Singh, became liable for penal action under Section 454 of the Companies Act, 2013. The disputed company and director also submitted a suo motu e-adjudication application, admitting the non-compliance committed by them.

Also Read

Delay Not Deliberate: ITAT Condones 121-Day Delay, Restores Appeal for Fresh Hearing

Considering the aforementioned violation, a penalty amounting to Rs 10,000 has been imposed on the company, Sanjeevani Agrofoods Limited and Rs 10,000 on its director, Mr Tara Singh. They have been directed to pay the penalty amount and rectify the default within 90 days of receiving the order. Additionally, if the company is dissatisfied with the present ROC order, it is allowed to challenge it in writing with the Regional Director, RD Noida, within sixty days of receiving the order.