ROC Patna has imposed penalties under Section 92(5) following a company's failure to file its annual return for FY 2019-20, highlighting the accountability of directors.
Penalties for Annual Return Non-Filing
ROC Patna has imposed penalties under Section 92(5) on a company and its managing director due to the non-filing of its annual return for the financial year 2019-20. The authority's decision reinforces the director's accountability in ensuring compliance with statutory requirements.
The absence of representation during adjudication proceedings further reinforced the penalties imposed, emphasizing that directors must actively participate in compliance matters.
Legal practitioners should remind their clients of the critical importance of their responsibilities in corporate governance to avoid penalties stemming from non-compliance.
Citations
- N/A
