Penalty Order Passed by ROC Chennai for Non-Disclosure in Form PAS-3

The order issued by the Registrar of Companies (ROC), Chennai, concerns non-compliance by Sri Muthu Malai Benefit Fund Limited and its officer, Gomathi Santhi, under the Companies Act, 2013.

The company had filed Form PAS-3 in 2018 for the allotment of shares. Still, it failed to disclose the occupations of certain allottees, which is mandatory under Rule 12(2) of the Companies (Prospectus and Allotment of Securities) Rules, 2014.

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Although notices and opportunities to be heard were provided by the ROC, the company and the officer failed to appear, resulting in the matter being decided ex parte.

Consequently, the ROC imposed a penalty of Rs. 10,000 on the company and Rs. 10,000 on the officer in default

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The order also directs them to rectify the filing defect and pay the penalty within 90 days.

The officer must pay the penalty personally and cannot recover it from the company.

Further, the parties have the right to appeal before the Regional Director, Chennai, within 60 days from the date of the order.