𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗢𝗿𝗱𝗲𝗿 𝗣𝗮𝘀𝘀𝗲𝗱 𝗯𝘆 𝗥𝗢𝗖 Fault and Legal Basis The order issued by the Registrar of Companies (ROC) adjudicates a penalty under Section 149(4) of the Companies Act, 2013. The fault pertains to non-appointment of Independent Directors by BCL Homes Limited as required under Section 149(4) of the Act. [img:oGrGhiL3t]

𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟰𝟵(𝟰): Requires every listed public company to have at least one-third of total directors as Independent Directors: Company: Penalty of ₹10,000, and ₹1,000/day for continuing failure. Directors/Officers: ₹10,000, and ₹1,000/day for continuing failure.

𝗗𝗲𝘁𝗮𝗶𝗹𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗠𝗶𝘀𝘁𝗮𝗸𝗲 𝗖𝗼𝗺𝗽𝗮𝗻𝘆: BCL Homes Limited failed to appoint Independent Directors as required under Section 149(4). 𝗢𝗳𝗳𝗶𝗰𝗲𝗿𝘀 𝗮𝘁 𝗙𝗮𝘂𝗹𝘁: 𝗕𝗼𝗮𝗿𝗱 𝗼𝗳 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀: Failed to ensure compliance with Independent Director requirements. The company did not respond adequately to show-cause notices or rectify the default.

𝗣𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 𝗟𝗲𝘃𝗶𝗲𝗱 𝗕𝗖𝗟 𝗛𝗼𝗺𝗲𝘀 𝗟𝗶𝗺𝗶𝘁𝗲𝗱: ₹25,000 (includes initial penalty and daily penalties). 𝗕𝗼𝗮𝗿𝗱 𝗼𝗳 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀: ₹25,000 (jointly and severally liable).

𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗱 𝗔𝗰𝘁𝗶𝗼𝗻𝘀 𝗧𝗵𝗲 𝘃𝗶𝗼𝗹𝗮𝘁𝗼𝗿𝘀 𝗺𝘂𝘀𝘁: Appoint required number of Independent Directors immediately. Pay penalties within 90 days through the MCA's e-Adjudication facility. File necessary forms and documents related to Independent Director appointments.