SRN BPO SERVICES PRIVATE LIMITED has been fined by the Ministry of Corporate Affairs (MCA) in a recent adjudication case under Section 454 and Sub-section (1)(a) of Section 10A of the Companies Act, 2013 for neglecting to file the INC-20A declaration within the allotted period. The ruling outlines the company’s non-compliance and the ensuing fines imposed. It was issued by the Adjudicating Officer at the Registrar of Companies cum Official Liquidator, Chhattisgarh.
By virtue of Gazette Notification No. A-42011/112/2014-Ad.II dated March 24, 2015, the Ministry of Corporate Affairs appointed the Adjudicating Officer, who then used the authority granted by Section 454 of the Companies Act, 2013 to decide fines under the Act’s provisions.
Penalties were imposed on December 8, 2020, company SRN BPO SERVICES PRIVATE LIMITED, whose registered address is W.No.35 Near Gauthan, Sanjay Nagar, Lakholi-Rajnandgaon CT 491441, India. The company was not in compliance with completing the INC-20A statement.
The firm was required to file the INC-20A declaration 180 days after incorporation, or by June 7, 2021, as it was incorporated on December 8, 2020. But according to the records on the MCA portal, the business did not submit the declaration as required by Rule 23A of the Companies (Incorporation) Rules, 2014, Section 10A.
The Adjudicating Officer sent a Show Cause Notice to the corporation and its officers in default after noticing the non-compliance. There was a chance for a response, but none was given. Following that, a Notice of Inquiry was published, establishing a hearing date of October 11, 2023, at the Chhattisgarh Registrar of Companies.
None of the company’s and its defaulting officials’ representatives showed up for the planned hearing. Since there was no reply, the adjudicating officer carried out the case. For the period of June 8, 2021, to October 11, 2023, there was a penalty for failing to comply with Section 10A(1)(a) of the Companies Act, 2013.
In accordance with Section 10A(2) of the Companies Act of 2013, the adjudicating officer determined that the firm and its officers in default are subject to fines. These are the fines that have been imposed: A penalty of Rs. 50,000 is imposed on SRN BPO SERVICES PRIVATE LIMITED for the period of default. Neha Sahu, the director: Rs. one million rupees for the duration of the default. Director Ravi Prakash Jaiswar: A penalty of Rs. 1,000,000 for the delinquent time. Within ninety days of obtaining the order, the corporation and executives in default are required to pay the penalty via the MCA website. The directive also highlights the negative effects of failing to pay, such as penalties and even jail time.
The Hon’ble Regional Director (NWR), Ministry of Corporate Affairs, Ahmedabad, may receive an appeal from the company and its directors within sixty days of receiving the order. In addition, they must file form INC 20A to immediately correct the default in compliance with Section 454(3)(b) of the Companies Act of 2013.
