𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗢𝗿𝗱𝗲𝗿 𝗣𝗮𝘀𝘀𝗲𝗱 𝗯𝘆 𝗥𝗢𝗖 𝗙𝗮𝘂𝗹𝘁 𝗮𝗻𝗱 𝗟𝗲𝗴𝗮𝗹 𝗕𝗮𝘀𝗶𝘀 The order issued by the Registrar of Companies (ROC), Chhattisgarh, adjudicates a penalty under Section 454 of the Companies Act, 2013, for violating Section 137(3) of the Act. The fault pertains to non-filing of financial statements by Fynpe Private Limited as required under Section 137(1) of the Act. [img:RLpZANk6H]

•𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟯𝟳(𝟯): Imposes penalties if a company fails to file financial statements within the prescribed time: 𝗼 𝗖𝗼𝗺𝗽𝗮𝗻𝘆: Penalty of ₹10,000, and ₹100/day for continuing failure, up to a maximum of ₹2,00,000. 𝗼 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀/𝗢𝗳𝗳𝗶𝗰𝗲𝗿𝘀: ₹10,000, and ₹100/day for continuing failure, up to ₹50,000.

𝗗𝗲𝘁𝗮𝗶𝗹𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗠𝗶𝘀𝘁𝗮𝗸𝗲 𝟭. 𝗖𝗼𝗺𝗽𝗮𝗻𝘆: Fynpe Private Limited failed to file financial statements since incorporation (January 11, 2022), despite receiving complaints from the RBI and notices from ROC. 𝟮. 𝗢𝗳𝗳𝗶𝗰𝗲𝗿𝘀 𝗮𝘁 𝗙𝗮𝘂𝗹𝘁: o Siddharth Satpathy: Director. o Juned Noor Mohammed Shaikh: Former Director. oBoth individuals did not respond to show-cause notices or rectify the default, leading to penalties.

𝗣𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 𝗟𝗲𝘃𝗶𝗲𝗱 1. Fynpe Private Limited: ₹43,700 (max penalty capped at ₹2,00,000). 2. Siddharth Satpathy: ₹43,700 (max penalty capped at ₹50,000). 3. Juned Noor Mohammed Shaikh: ₹20,100 (max penalty capped at ₹50,000).

𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗱 𝗔𝗰𝘁𝗶𝗼𝗻𝘀 •The violators must: 1. Rectify the default by filing financial statements. 2. Pay penalties within 90 days through the MCA's e-Adjudication facility.

𝗔𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗥𝗲𝗺𝗲𝗱𝗶𝗲𝘀 𝟭. 𝗔𝗽𝗽𝗲𝗮𝗹 𝗔𝗴𝗮𝗶𝗻𝘀𝘁 𝘁𝗵𝗲 𝗢𝗿𝗱𝗲𝗿: o The penalized parties may file an appeal in writing with the Regional Director (RD), Ahmedabad, within 60 days from the receipt of the order, as per Section 454(5) and (6). o The appeal must be filed in Form ADJ and accompanied by a certified copy of the order.

𝟮. 𝗣𝗲𝗻𝗮𝗹 𝗖𝗼𝗻𝘀𝗲𝗾𝘂𝗲𝗻𝗰𝗲𝘀 𝗳𝗼𝗿 𝗡𝗼𝗻-𝗣𝗮𝘆𝗺𝗲𝗻𝘁: o If penalties are not paid within the prescribed period, further actions may be taken under Section 454(8) of the Act, which includes additional fines and enforcement actions.

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 • 𝗡𝗮𝘁𝘂𝗿𝗲 𝗼𝗳 𝗙𝗮𝘂𝗹𝘁: Non-compliance with statutory filing requirements under Section 137(1). • 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝗯𝗹𝗲 𝗣𝗲𝗿𝘀𝗼𝗻𝘀: Fynpe Private Limited and its directors. • 𝗥𝗲𝗺𝗲𝗱𝗶𝗲𝘀: Rectify defaults and/or appeal within stipulated timeframes.