Sitaram Maharaj Sakhar Karkhana (Khardi) Limited is subject to penalties under an adjudication order issued by the Registrar of Companies, Maharashtra, Pune, for violating Section 137(1) of the Companies Act, 2013. The fine results from the business’s failure to submit its financial statements by the deadline.


  • Appointment of Adjudicating Officer:

The undersigned has been designated as the Adjudicating Officer by the Ministry of Corporate Affairs in accordance with Section 454(1) of the Companies Act, 2013 for the purpose of deciding fines. As of January 2, 2018, the officer has the authority to decide fines under Section 137 of the Act.

  • Company Details

The registered office of Sitaram Maharaj Sakhar Karkhana (Khardi) Limited is located in Solapur, Maharashtra. Examined are the company’s financial practices and compliance with the Companies Act’s filing obligations.

  • Facts about the case
  1. Companies must provide financial accounts in accordance with Section 137(1) within 30 days following the annual general meeting. Penalties apply for noncompliance. 

b.An inspection revealed that the company had neglected to submit profit and loss statements and balance sheets for the fiscal years ending March 31, 2020, and March 31, 2021. 

  1. In response, the business stated that it was in compliance for the fiscal year that concluded on March 31, 2019, and it suggested compounding for years after that.

  • Relevant Provisions of the Companies Act, 2013:

Financial statement filing requirements and penalties for noncompliance are outlined in Section 137. Penalty adjudication jurisdiction is granted by Section 454.

  • Penalty adjudication:
  1. The adjudicating officer finds that the company and its officials failed to submit its financial statements for the 2020–21 fiscal year by the deadline. 
  2. General Circular No. 01/2020 and Rule 3(13) of the Companies (Adjudication of Penalties) Rules, 2014 are the legal bases for the penalty. 
  3. The punishment is thought to be appropriate for the offense.
  4. The business and its officers must use the Ministry of Corporate Affairs web to pay the fine that has been assessed.
  • Procedure for Appeal
  1. The company has sixty days from the date of receipt to file an appeal of the order.
  2. A certified copy of the order and an appeal shall be submitted in writing in Form ADJ to the Ministry of Corporate Affairs, Mumbai’s Regional Director (Western Region).

  • Consequences of Non-Payment: 

The directive emphasizes what happens if money is not paid within the allotted ninety days. Section 454(8)(ii) delineates the consequences that arise from noncompliance with the penalty order.


Penalties will be imposed on Sitaram Maharaj Sakhar Karkhana (Khardi) Limited for failing to file financial accounts within the required deadline, in violation of Section 137(1) of the Companies Act, 2013. The comprehensive adjudication order offers information about the case, the company’s answer, and the fine that was assessed. Businesses are reminded of how crucial it is to promptly comply with all legal filing obligations in order to avoid fines and other legal repercussions.

Office of the Registrar of Companies
Maharashtra, Pune
Ministry of Corporate Affairs
Government of India
PCNTDA Green Building, Block A, 1st & 2nd
Floor Near Akurdi Railway Station Akurdi, Pune – 411044
Phone: 020-27651375/78
Order No. RoCP/ADJ/ order / 137/23-
24/SMSKKL/MV/ 2335 to 2337
Date: 21 DEC 2023

Sitaram Maharaj Sakhar Karkhana (Khardi) Limited (U15424PN1949PLC013656) having its registered office as per MCA21 Registry at address “C/O Kalyanraao V Kale A/P Wadikuroli Pandharpur NA, Solapur, Maharashtra, 00000 India” and its directors/KMPs.

  • Appointment of Adjudicating Officer

The Ministry of Corporate Affairs appointed an adjudicating officer on March 24, 2015, through a Gazette Notification No. A-42011/112/2014-Ad.II (see to SO 831(E), dated March 24, 2015). nominated the undersigned as an adjudicating officer in accordance with Rule 3(1) of the Companies (Adjudication of fines) Rules, 2014, to exercise the authority granted by Section 454(1) of the Companies Act, 2013 (henceforth referred to as the Act) for determining fines under the Act’s provisions. With effect from February 1, 2018, the undersigned is responsible with deciding fines under section 137 of the Companies ACT, 2013, pursuant to the Companies (Amendment) Act, 2019.

  • Company

According to section 7f of the Companies Act of 2013, Sitaram Maharaj Sakhar Karkhana (Khardi) Limited (U15424PN1999PLC013656), herein referred to as the “Company,” is a registered company with this office. Its registered office, according to MCA21 Registry, is located at C/0 Kalyanrao V Kalea/P Wadikuroli Pandharpur NA, Solapur, Maharashtra, 000000, India.

G Akshay Associates