Shri Narayani Nidhi LTD F55265870 20230203

ADI/06IRD (sR)/ 2022-23
BEFORE THE REGIONAL DIRECTOR

(souTHERN REGION)
MINISTRY OF CORPORATE AFFAIRS, CHENNAI
. IN THE MATTER oF THE coMpaNlEs Acr' 2013
SECTION 454(71oF CoMPANIES ACT' 2013
.
IN THE MATTER OF IVI/S. SHRI NARAYANI NIDHI LIMITED
1. M/s. Shri Narayani Nidhi Limited

2. shri. subramaniyan Karthikeyan, Managing Director of M/s' shri Narayani Nidhi
Limited
Applicants / APPellants
Date of hearing : L1.0L.2023

Present : Shri. P. Sriram,
Practicing ComPanY Secretary
ORDER
Act, 2013by the above

This is ari appeal filed under section 454 (5) of the Companies
the Adiudication
Applicants in Form ADJ vide sRN: F55265g70, dated 30.12.2022 against
ora", No. ROC/CHN/Shri Narayani /ADJ Order/sec. tu(3)(g) /2022, dated 20'12'2022
Nadu for default
under section 454 p.)passed by the Registrar of Companies, Chennai, Tamil
committed under Sec. LL7 (3) read with Sec. 179(3)(9) of the Companies Act,2013'
Z. As per Sec. 117(3)(g) of the Companies Act, 2013, the provisions of this section shall
apply to - (g) resolutions passed in pursuance of sub-section (3) of section 179. As per
Sec. 179(3)(g) of the Companies Act, 2013, the Board of Directors of a company shall exercise
the following powers on behaU of the company by means of resolutions passed at meetings
of the Board, namely- (g) to approve financial statement and the Board's rePort.
3. The company had filed an application for seeking status of Nidhi before the Ministry
of Corporate Affairs in e-Form NDH-4 vide SRN: R34197020, dated 27.02.2020. However,
consequent upon filing the said form the Minishy of Corporate Affairs has observed that the
company has not filed Form MGT-14 for Board Resolution passed for approval of accounts
with ROC.for the,financial years from 20'1.4-15 to 2018--1.9. Thus, the provisions of
sec. 117(3)(9) read with sec. 1zo(3)(g) of the Companies Act, 2013 is violated.
4. The Registrar of Companies, Chennai, Tamil Nadu examined the said clefault
and passed the Adjudication Order No. ROC/CHN/Shri Narayani/ADJ Order/Sec.
1'17(3)(9)/2022, dated 20.72.2022 (impugned order) under Section 454 (3) and (a) of the
Companies Act, 2013 for default in compliance with the requirements of Sec. 117(3)(9) read
with Sec. t79(3)(g) of the Companies Act, 2013 and imposed a penalty of Rs. 8,65,400/-
1201,4-15 - - Rs. 2,00,000 ;201.6_17 _"Ri. 1,92,g00 ;2077_18 _ Rs. 1,53,300
Rs. 2,00,000 ; 2015-16
and 2018-19 - Rs. 1,19,3001 upon the Company; Rs. 2,so,o}o/- [201,4-L5 - Rs. 50,000 ;
2075-16- Rs.50,b00 ;2076-1,7 - Rs.50,000 ;2017-7g- Rs.50,000 and 201g-19 - Rs.50,0001 upon
Shri. Subramaniyan Karthikeyan, Managing Director of the company for the above default.
5 The. Appellants have contended the impugned order and pleaded that the
non-comPliance had occurred due to unavoidable circumstances and default was
unintentional.
Contd.
-2-
6. An opportunity of being heard was given to the Appellants on 11.01.2023. The

Authorized Representative Shri. P. Sriram, Practicing Company Secretary has appeared for
the Appellants while reiterating the grounds taken in the appeal had stated that the Company
has inadvertently omitted to file relevant Form MGT-14 as pointed out by the Ministry of
Corporate Affairs and it has been noticed only when it was pointed out by the MCA. The
non-filing is purely due to inadvertence and lack of professional advice and hence prayed for
lenient view.
7. Though there is a defaultcommitted, there is a ground in interfering with the irirpugned

adjudication order of the Registrar of Companies to the extent of reducing the quantum of
penalty. Accordingly, the penalties imposed are reduced from Rs. 8,65,400/ - to Rs. 2,00,000/-
for the Company i.e., Rs. 40,000/- per year and Rs. 2,50,000/- to Rs. 1,00,000f - f.or
Shri. Subramaniyan Karthikeyan, Managing Director i.e., Rs. 20,000 / - per year. The
Appellants shall pay the penalty in 15 days
Dated at Chennai this the 19th day of January ,2023
t
te.
2 l"
I (Dr. RAJ EILIGII)
REGIONAI, DIRECTOR (SR)
To
J M/s. Shri Narayani Nidhi Limited,

No. 28A, Kamalalayam Vadakarai,
Tiruvarur - 610 002.
2. The Registrar of Companies, Chennai, Tamil Nadu'
The officer in Charge, e-Gov. Cell, Ministry of Cbrporate Affairs, A-wing,

shastri
3. a request to upload this
Bhavan, Dr. Rajendra'Prasad Road, New Delhi -110 001- with
B' Srikumar, Joint Director,
Order on the *Lbrit" of the Ministry. Send via mail to Shri.
(srikumar.uog"" i") and shri. vivet Meena, Asst. Director (vivek'meena@gov'in)

Shri Narayani Nidhi LTD F55265870 20230203

Uploaded by

Copyright:

Available Formats

Shri Narayani Nidhi LTD F55265870 20230203

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Shri Narayani Nidhi LTD F55265870 20230203

Uploaded by

Copyright:

Available Formats

ADI/06IRD (sR)/ 2022-23

BEFORE THE REGIONAL DIRECTOR

1. M/s. Shri Narayani Nidhi Limited

Date of hearing : L1.0L.2023

Act, 2013by the above

6. An opportunity of being heard was given to the Appellants on 11.01.2023. The

7. Though there is a defaultcommitted, there is a ground in interfering with the irirpugned

Dated at Chennai this the 19th day of January ,2023

J M/s. Shri Narayani Nidhi Limited,

2. The Registrar of Companies, Chennai, Tamil Nadu'

The officer in Charge, e-Gov. Cell, Ministry of Cbrporate Affairs, A-wing,

You might also like