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May 2023

Corporate Law Corner Part A : Company Law

By Pramod Prabhudesai, Chartered Accountants
Kaushik M. Jhaveri, Company Secretary
Reading Time 5 mins
3 Case law no. 01/May 2023 Shri Narayani Nidhi Ltd ADJ/07/RD (SR)/2022-23 Office of the Regional Director Appeal against Adjudication order Date of Order: 19th January, 2023 Appeal against Adjudication order: Not furnishing the Director Identification Number and violating Section 158 of the Companies Act, 2013. FACTS SNNL had filed an application for seeking the status of Nidhi before the Ministry of Corporate Affairs (‘MCA’). However, while scrutinising the said form, the MCA had observed that the Directors signing the financial statements had not mentioned their Director Identification Number (‘DIN’) in the documents attached with the Form AOC-4 for the F.Ys.2014-15, 2016-17 and 2017-18 respectively. Thus, the provisions of Section 158(1) of the Companies Act, 2013 were violated. Sec. 158(1) of the Companies Act, 2013 provides that: Every person or company, while furnishing any return, information or particulars as are required to be furnished under this Act shall mention the Director Identification Number in such return, information or particulars in case such return, information or particulars relate to the director or contain any reference of any director. The Registrar of Companies, Chennai, Tamil Nadu examined the said default and passed the Adjudication Order (impugned order) under
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