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October 2023

Corporate Law Corner – Part A | Company Law

By Pramod Prabhudesai, Chartered Accountant
Kaushik M. Jhaveri, Company Secretary
Reading Time 4 mins

13. Case Law No. 01/October/ 2023

M/s. VINAYAK BUILDERS AND DEVELOPERS PRIVATE LIMITED

No. ROC/ PAT/ Inquiry/13665/834

Office of the Registrar of Companies,

Bihar-Cum-Official Liquidator,

High Court, Patna Adjudication Order

Date of Order: 18th August, 2023

Order for penalty for violation of section 143 of the Companies Act, 2013 read with Rule 11(d) of the Companies (Audit and Auditors) Rules, 2014 for non-disclosure in the Auditor’s Report by the Statutory Auditor.

FACTS

As per the documents available on MCA Portal, Mr SK was the auditor of the company for the financial year ending 31st March, 2017.

Registrar of Companies, Bihar (“RoC”) on inspection of the financial statements of M/s VBDPL for the financial year ending 31st March, 2017 observed that, in the column of details of Specified Bank Notes (SBNs) held and transacted during the period from 8th November, 2016 to 30th December, 2016 was mentioned as zero. However

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