𝗣𝗲𝗻𝗮𝗹𝘁𝘆 𝗜𝗺𝗽𝗼𝘀𝗲𝗱 𝗼𝗻 𝗧𝗿𝘂𝘁𝗵𝗶𝗴𝗵 𝗙𝗶𝗻𝘁𝗲𝗰𝗵 𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗟𝗶𝗺𝗶𝘁𝗲𝗱 𝗳𝗼𝗿 𝗩𝗶𝗼𝗹𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿𝗲𝗱 𝗢𝗳𝗳𝗶𝗰𝗲 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗢𝗿𝗱𝗲𝗿 𝗣𝗮𝘀𝘀𝗲𝗱 𝗯𝘆 𝗥𝗢𝗖 𝗙𝗮𝘂𝗹𝘁 𝗮𝗻𝗱 𝗟𝗲𝗴𝗮𝗹 𝗕𝗮𝘀𝗶𝘀 The Registrar of Companies (ROC), Mumbai, issued a penalty order against Truthigh Fintech Private Limited for violating Section 12 of the Companies Act, 2013. [img:VIZ2oQ6FA]

𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟮(𝟭): Requires companies to maintain a registered office capable of receiving and acknowledging communications and notices. 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟮(𝟴): Imposes a penalty of ₹1,000 per day for non-compliance, subject to a maximum of ₹1,00,000.

𝗗𝗲𝘁𝗮𝗶𝗹𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗠𝗶𝘀𝘁𝗮𝗸𝗲 𝟭 )𝗖𝗼𝗺𝗽𝗮𝗻𝘆'𝘀 𝗙𝗮𝗶𝗹𝘂𝗿𝗲: The company failed to maintain its registered office at the address mentioned in the MCA database. The default was identified during a physical verification conducted on December 29, 2021, where the registered office was found non-operational.

𝟮) 𝗦𝘂𝗯𝘀𝗲𝗾𝘂𝗲𝗻𝘁 𝗔𝗰𝘁𝗶𝗼𝗻𝘀: Show Cause Notices were issued to the company and its directors on August 19, 2024, but no replies were received. Notices sent to one director, Ashish Kumar, were marked as delivered, while notices to Pawandeep were returned with a remark, "door locked." 𝟯)𝗗𝗲𝗳𝗮𝘂𝗹𝘁 𝗣𝗲𝗿𝗶𝗼𝗱: The violation period spans 964 days, from December 29, 2021, to August 19, 2024.

𝗣𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 𝗟𝗲𝘃𝗶𝗲𝗱 𝟭) 𝗧𝗿𝘂𝘁𝗵𝗶𝗴𝗵 𝗙𝗶𝗻𝘁𝗲𝗰𝗵 𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗟𝗶𝗺𝗶𝘁𝗲𝗱 (𝗖𝗼𝗺𝗽𝗮𝗻𝘆): ₹1,00,000 (capped penalty under Section 12(8)). 𝟮) 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀 𝗶𝗻 𝗗𝗲𝗳𝗮𝘂𝗹𝘁: 𝗣𝗮𝘄𝗮𝗻𝗱𝗲𝗲𝗽: ₹1,00,000 (capped penalty). 𝗔𝘀𝗵𝗶𝘀𝗵 𝗞𝘂𝗺𝗮𝗿: ₹1,00,000 (capped penalty). 𝟯)𝗧𝗼𝘁𝗮𝗹 𝗣𝗲𝗻𝗮𝗹𝘁𝘆 𝗣𝗮𝘆𝗮𝗯𝗹𝗲: ₹3,00,000.

𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗱 𝗔𝗰𝘁𝗶𝗼𝗻𝘀 𝟭) 𝗣𝗲𝗻𝗮𝗹𝘁𝘆 𝗣𝗮𝘆𝗺𝗲𝗻𝘁: The company and its officers must pay the penalties via the Ministry of Corporate Affairs (MCA) portal within 90 days of receiving the order. Proof of payment must be submitted for verification. 𝟮) 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Rectify the default by maintaining a registered office as per Section 12(1).