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August 2023

Corporate Law Corner : Part A | Company Law

By Pramod Prabhudesai, Chartered Accountant
Kaushik M. Jhaveri, Company Secretary
Reading Time 7 mins
9 M/s. Bock Compressors India Pvt Ltd ROC-Guj/Adj. Order/Bock Compressors/ Sec 134/ 3323-3326 Office of Registrar of Companies, Gujarat Dadra & Nagar Haveli Adjudication Order Date of Order: 08th July, 2022 Order for penalty under section 454 of the Companies Act, 2013 read with Rule 5 of Companies (Adjudication of Penalties) Rule, 2014 for Violation of Section 134 of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014. FACTS M/s BCIPL is registered under the provisions of the Companies Act, 1956 in the state of Gujarat. M/s BCIPL had filed a suo-moto application through e-form GNL-1 for adjudicating the penalty for violation of Section 134 of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 towards non-disclosure related to the conservation of energy, technology absorption, foreign exchange earnings and outgo in the manner as prescribed under Rule 8 of the Companies (Accounts) Rules, 2014. As per suo-moto application, the Board of Directors had at its meeting approved Board’s Report for the Financial Year ended on 31st March, 2015 under the provisions of section 134 of the Companies Act, 2013. Further, as per the requirements of the above provisions, M/s BCIPL was required to make disclosure in the said Board’s Report
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