Penalty on Directors of Companies
Penalty on Directors of Companies
Information pertaining to
imprisonment/penalization of directors of companies having turnover of more
than Rs 50 crore annually, in the year 2014-15 is as under:
|
S. No.
|
Name of Company
|
Name of the Directors
|
Section of Companies Act, 1956 violated
|
Penalty levied
|
Status of the case
|
|
1.
|
M/s
XRBIA DEVELOPERS LIMITED
|
Dilip
Ramkrishna Khapre,
Manoj
Kumar Murlidhar Kamble
|
159,
220(3)
|
Total
Rs.3000/- fine (Rs.500/- fine imposed on each director apart from fine on the
company in two cases)
|
Action
Completed
|
|
2
|
M/s
BORACHEM INDUSTRIES LIMITED
|
Suresh
Kanayalal Raka, Ashok Namdevrao Rukari,
Omprakash
Pattnayak
|
159,
220(3)
|
Total
Rs.4000/- fine (Rs.500/- fine imposed on each director apart from fine on the
company in two cases)
|
Action
Completed
|
|
3
|
M/s LI
TAKA PHARMACEUTICALS LIMITED
|
Pravin
Kumar Kantilal Mutha,
Suresh
Kanayalal Raka, Cajetan Valerian Dsouza,
Omprakash
attanayak
|
159,
220(3)
|
Total
Rs.5000/- fine (Rs.500/- fine imposed on each director apart from fine on the
company in two cases)
|
Action
Completed
|
|
4
|
M/s
SIDHANATH SUGAR MILLS LIMITED
|
Dilip
Bramhadeo Mane
|
220(3)
|
Total
Rs.1000/- fine (Rs.500/- fine imposed on each director apart from fine on the
company in this case)
|
Action
Completed
|
|
5
|
M/s
PEGASUS HEALTHCARE LIMITED
|
Rajendra
Chhotubahi Kapadia, Suresh Kanayalal Raka,
Cajetan
Valerian Dsouza
|
159,
220(3)
|
Total
Rs.4000/- fine (Rs.500/- fine imposed on each director apart from fine on the
company in two cases)
|
Action
Completed
|
|
6
|
M/s
ATIBAR INDUSTRIES COMPANY LTD
|
Shri
Samir Kumar Sarawgi, Managing Director,
Shri
Bibhu Prasad Bhoi, company secretary
|
220
|
Total
Rs.4500/- fine (Rs1500/- fine imposed on each Managing Director and Company
Secretary apart from fine on the company)
|
Action
Completed
|
|
7
|
M/s SCL
STEEL CORPORATION LIMITED
|
Avijit
Chakraborty,
Manas
Kumar Dan,
Prasanta
Chatterjee,
Joy deb
Biswas
|
56(3),
60B/629A, 67 (1) & (2) /629A and 68
|
Total
Rs.1,95,000/- fine (Rs.39,000 fine imposed on each Director apart from fine
on the Company)
|
Action
Completed
|
|
8
|
M/s MAN
STRUCTURALS PRIVATE LIMITED
|
Kishore
P. Rungta, Managing Director
|
58A (1)
& 58A(2) read with 58A(6)
|
Fine of
Rs.1,89,31,294/-, Rs.76,74,525/-, Rs.12,59,131/- for the years 1996-97,
1997-98, 1998-99 respectively imposed on the company.
Further, the Managing Director of the company was convicted for a period of
two year simple imprisonment and a fine of Rs. 5000/- was imposed on him
|
The
Company and Managing Director have filed an appeal before the Appellate Court
which is pending.
|
|
9
|
LAKHANI
INDIA LIMITED
|
Amarjeet
Kalra Whole Time Director, Arun Virmani, Company Secretary
|
159/220
|
Total
Rs.20000/- fine
(Rs.10000
each on whole time Director and Secretary)
|
Case in
respect of one of the directors, Shri Parmeshwar Dyal Lakhani, has been
consigned to record by the Court as the Court has declared him a Proclaimed
Offender.
|
|
10
|
SATYAM
COMPUTER SERVICES LTD.
|
Ramalinga
Raju,
B.
Ramaraju,
V.
Srinivas
|
309(1)
& 628
|
Fine of
Rs. 5 lakh each and in default of paying fine, simple imprisonment of 6
months each
|
All the
four directors convicted have gone in appeal.
|
|
Ramalinga
Raju,
B.
Ramaraju,
Srinivas,
Mynampati
|
211(7) &
628
|
Simple
Imprisonment of 6 months for each accused and Fine of Rs. 10,000, and
in default of paying fine, simple imprisonment of 1 month each
|
|||
|
Ramalinga
Raju,
B.
Ramaraju,
Srinivas,
Mynampati
|
211
& 628
|
Simple
Imprisonment of 6 months for each accused and Fine of Rs. 10,000, and
in default of paying fine, simple imprisonment of 1 month each
|
|||
|
Ramalinga
Raju,
B.
Ramaraju,
Mynampati
|
217
(2a) & 628
|
Simple
Imprisonment of 6 months for each accused and Fine of Rs. 20,000/- and
in default of paying fine, simple imprisonment of 1 month each
|
|||
|
Ramalinga
Raju,
B.
Ramaraju,
Srinivas
|
211 (1)
& (2) & 628
|
Simple
Imprisonment of 6 months for each accused and Fine of Rs. 10,000/- and in
default of paying fine, simple imprisonment of 1 month each.
|
|||
|
Ramalinga
Raju,
B.
Ramaraju,
Mynampati
|
220 (1)
& 628
|
Fine of
Rs. 5 lakh and in default of paying fine, simple imprisonment of 6 month
each.
|
|||
|
11.
|
JVG
GROUP COMPANIES
|
|
|
|
The
matter is still pending against Mrs. Namrata Krishan, Director
who has been declared as Proclaimed offender by the court. Another
Director Sh. D K Aggarwal is no more. Proceedings against another Director
Sh. Vijay Kumar Sharma have been dropped.
|
|
JVG
HOLDINGS
|
Upender
Singh
|
159 r/w
220
|
Fine of
Rs.10, 000
|
||
|
|
S.L.
Maloo
|
217 (5)
|
Fine of
Rs.10, 000
|
||
|
JVG
HOTELS
|
S.L.
Maloo
|
217 (5)
|
Fine of
Rs.10, 000
|
||
|
JVG
STEEL
|
S.L.
Maloo
|
215
|
Fine of
Rs.10, 000
|
||
|
JVG
HOUSING FINANCE
|
S.L.
Maloo
|
159/220
(1)
|
Fine of
Rs.10, 000 for non-filing of balance sheet as at 31.3.2007
|
||
|
S.L.
Maloo
|
159/220
(1)
|
Fine of
Rs10, 000 for non-filing of balance sheet as at 31.3.2006.
|
This information was given by Shri Arun
Jaitley, Minister of Corporate Affairs in written reply to a question in the
Lok Sabha today.
*****
Companies Registered with Registrar of Companies
The number of companies, registered
with Registrar of Companies as on 30.06.2015, State/UT-wise, is given in
Annex-I.
The State/UT-wise and category-wise (struck-off and liquidated) number
of closed companies during the last three financial years and the current
financial year (up to 30.06.2015), is given in Annex-II.
The Government of India has formulated
No scheme for revival of closed companies.
ANNEX I
State/UT-wise number
of registered companies as on 30.06.2015.
|
Sl. No.
|
STATE/UT
|
NUMBER
|
|
1
|
Andaman and Nicobar Islands
|
265
|
|
2
|
Andhra Pradesh
|
21,688
|
|
3
|
Arunachal Pradesh
|
492
|
|
4
|
Assam
|
9,328
|
|
5
|
Bihar
|
20,208
|
|
6
|
Chandigarh
|
12,804
|
|
7
|
Chhattisgarh
|
7,606
|
|
8
|
Dadra and Nagar Haveli
|
440
|
|
9
|
Daman and Diu
|
316
|
|
10
|
Delhi
|
2,75,895
|
|
11
|
Goa
|
7,391
|
|
12
|
Gujarat
|
82,113
|
|
13
|
Haryana
|
26,974
|
|
14
|
Himachal Pradesh
|
4,804
|
|
15
|
Jammu and Kashmir
|
4,075
|
|
16
|
Jharkhand
|
9,124
|
|
17
|
Karnataka
|
80,183
|
|
18
|
Kerala
|
38,405
|
|
19
|
Lakshadweep
|
13
|
|
20
|
Madhya Pradesh
|
30,124
|
|
21
|
Maharashtra
|
2,98,611
|
|
22
|
Manipur
|
411
|
|
23
|
Meghalaya
|
941
|
|
24
|
Mizoram
|
98
|
|
25
|
Nagaland
|
480
|
|
26
|
Odisha
|
18,686
|
|
27
|
Puducherry
|
2,774
|
|
28
|
Punjab
|
26,380
|
|
29
|
Rajasthan
|
46,336
|
|
30
|
Tamil Nadu
|
1,15,981
|
|
31
|
Telangana
|
78,289
|
|
32
|
Tripura
|
336
|
|
33
|
Uttar Pradesh
|
67,050
|
|
34
|
Uttarakhand
|
4,799
|
|
35
|
West Bengal
|
1,85,954
|
|
Total
|
14,79,374
|
|
ANNEX-II
State/UT-wise and
category-wise number of companies closed during last three financial years and
current financial year (up to 30.06.2015).
|
Sl. No.
|
STATE/UT
|
STRUCK-OFF
|
LIQUIDATED
|
TOTAL
|
|
1
|
Andaman and Nicobar Islands
|
2
|
-
|
2
|
|
2
|
Andhra Pradesh
|
852
|
-
|
852
|
|
3
|
Arunachal Pradesh
|
20
|
-
|
20
|
|
4
|
Assam
|
340
|
3
|
343
|
|
5
|
Bihar
|
202
|
1
|
203
|
|
6
|
Chandigarh
|
973
|
-
|
973
|
|
7
|
Chhattisgarh
|
76
|
-
|
76
|
|
8
|
Dadra and Nagar Haveli
|
7
|
-
|
7
|
|
9
|
Daman and Diu
|
2
|
-
|
2
|
|
10
|
Delhi
|
5,995
|
74
|
6,069
|
|
11
|
Goa
|
167
|
-
|
167
|
|
12
|
Gujarat
|
1,529
|
8
|
1,537
|
|
13
|
Haryana
|
562
|
2
|
564
|
|
14
|
Himachal Pradesh
|
238
|
-
|
238
|
|
15
|
Jammu and Kashmir
|
68
|
-
|
68
|
|
16
|
Jharkhand
|
123
|
3
|
126
|
|
17
|
Karnataka
|
1,903
|
27
|
1,930
|
|
18
|
Kerala
|
1,030
|
9
|
1,039
|
|
19
|
Lakshadweep
|
-
|
-
|
-
|
|
20
|
Madhya Pradesh
|
711
|
-
|
711
|
|
21
|
Maharashtra
|
4,684
|
49
|
4,733
|
|
22
|
Manipur
|
8
|
-
|
8
|
|
23
|
Meghalaya
|
39
|
-
|
39
|
|
24
|
Mizoram
|
17
|
-
|
17
|
|
25
|
Nagaland
|
25
|
-
|
25
|
|
26
|
Odisha
|
1,825
|
7
|
1,832
|
|
27
|
Puducherry
|
61
|
2
|
63
|
|
28
|
Punjab
|
1,858
|
-
|
1,858
|
|
29
|
Rajasthan
|
1,315
|
12
|
1,327
|
|
30
|
Tamil Nadu
|
3,491
|
77
|
3,568
|
|
31
|
Telangana
|
6,756
|
19
|
6,775
|
|
32
|
Tripura
|
25
|
-
|
25
|
|
33
|
Uttar Pradesh
|
1,067
|
16
|
1,083
|
|
34
|
Uttarakhand
|
106
|
2
|
108
|
|
35
|
West Bengal
|
6,997
|
11
|
7,008
|
|
Total
|
43,074
|
322
|
43,396
|
|
This information was
given by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a
question in the Lok Sabha today.
*****
Strengthening of Corporate Governance in Companies in India
The Companies Act, 2013 which replaces the Companies Act, 1956
incorporates various provisions aimed at strengthening of corporate governance
in companies in India. These provisions include, inter-alia, enhanced
responsibilities for the Board and its committees like the Audit Committee and
Nomination and Remuneration Committee, enhanced disclosures to stakeholders,
appointment of Independent Directors, stricter norms for ensuring independence
and accountability of auditors and greater level of investor protection.
The Indian Accounting Standards (Ind AS) have also been notified in February 2015, and are expected to contribute to improved corporate governance. The number of activities under Corporate Social Responsibility has also been expanded. Further, Companies Act, 2013 has been amended to do away with mandatory requirement of minimum paid up capital for companies, common seal for companies and the requirement of filing declaration of commencement of business with a view to facilitate doing business using company as a vehicle. Incorporation process for a company has been simplified through the introduction of an integrated e-form INC-29, amongst other steps.
This information was given by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today.
The Indian Accounting Standards (Ind AS) have also been notified in February 2015, and are expected to contribute to improved corporate governance. The number of activities under Corporate Social Responsibility has also been expanded. Further, Companies Act, 2013 has been amended to do away with mandatory requirement of minimum paid up capital for companies, common seal for companies and the requirement of filing declaration of commencement of business with a view to facilitate doing business using company as a vehicle. Incorporation process for a company has been simplified through the introduction of an integrated e-form INC-29, amongst other steps.
This information was given by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today.
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