𝗣𝗲𝗻𝗮𝗹𝘁𝘆 𝗜𝗺𝗽𝗼𝘀𝗲𝗱 𝗼𝗻 𝗔𝗻𝗵𝗲𝘂𝘀𝗲𝗿 𝗕𝘂𝘀𝗰𝗵 𝗜𝗻𝗕𝗲𝘃 𝗜𝗻𝗱𝗶𝗮 𝗟𝗶𝗺𝗶𝘁𝗲𝗱 𝗳𝗼𝗿 𝗕𝗿𝗲𝗮𝗰𝗵 𝗼𝗳 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗚𝗼𝘃𝗲𝗿𝗻𝗮𝗻𝗰𝗲 𝗡𝗼𝗿𝗺𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗢𝗿𝗱𝗲𝗿 𝗣𝗮𝘀𝘀𝗲𝗱 𝗯𝘆 𝗥𝗢𝗖 𝗙𝗮𝘂𝗹𝘁 𝗮𝗻𝗱 𝗟𝗲𝗴𝗮𝗹 𝗕𝗮𝘀𝗶𝘀 The Registrar of Companies (ROC), Mumbai, issued a penalty order against Anheuser Busch InBev India Limited under Section 454 of the Companies Act, 2013, for violating Section 149 read with Schedule IV of the Act. [img:we8HKk0-7]

𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟰𝟵(𝟰): Mandates that listed public companies must have at least one-third of their directors as independent directors. 𝗦𝗰𝗵𝗲𝗱𝘂𝗹𝗲 𝗜𝗩, 𝗖𝗹𝗮𝘂𝘀𝗲 𝗩𝗜𝗜: Requires independent directors to hold at least one separate meeting annually to evaluate performance and ensure effective corporate governance.

𝗗𝗲𝘁𝗮𝗶𝗹𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗠𝗶𝘀𝘁𝗮𝗸𝗲 𝟭)𝗖𝗼𝗺𝗽𝗮𝗻𝘆'𝘀 𝗙𝗮𝗶𝗹𝘂𝗿𝗲: The company failed to conduct the mandatory separate meeting of its independent directors for the financial year 2021-22. The non-compliance spanned 748 days, from March 24, 2022, to April 10, 2024 (date of adjudication application).

2)𝗥𝗲𝗮𝘀𝗼𝗻 𝗳𝗼𝗿 𝗗𝗲𝗳𝗮𝘂𝗹𝘁: The company cited non-availability of independent directors following disruptions caused by the COVID-19 pandemic. 𝗣𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 𝗟𝗲𝘃𝗶𝗲𝗱 1) Anheuser Busch InBev India Limited (Company): ₹4,24,000 (₹50,000 base penalty + ₹500/day for 748 days).

𝟮)𝗢𝗳𝗳𝗶𝗰𝗲𝗿𝘀 𝗶𝗻 𝗗𝗲𝗳𝗮𝘂𝗹𝘁: Kartikeya Sharma (Whole-Time Director): ₹4,24,000. Mahesh Kumar Mittal (Whole-Time Director): ₹4,24,000. Aishwarya Sathish Kumar (Company Secretary): ₹2,39,000 (based on a shorter default period). Aastha Sharma (CFO): ₹4,24,000. Mansi Bajaj (Company Secretary): ₹1,45,000 (based on a shorter default period). Gagandeep Singh Sethi (Whole-Time Director): ₹4,24,000

𝟯)𝗧𝗼𝘁𝗮𝗹 𝗣𝗲𝗻𝗮𝗹𝘁𝘆 𝗣𝗮𝘆𝗮𝗯𝗹𝗲: ₹9,00,000 (by the company and all officers in default collectively). 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗱 𝗔𝗰𝘁𝗶𝗼𝗻𝘀 𝗣𝗲𝗻𝗮𝗹𝘁𝘆 𝗣𝗮𝘆𝗺𝗲𝗻𝘁: All penalized entities and officers must pay their respective penalties through the MCA portal within 90 days of receiving the order. 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Ensure adherence to corporate governance mandates, including holding mandatory meetings for independent directors.