ROC Kolkata Imposes ₹3.50 Lakh Penalty for Delay in Filing CSR-2

ROC Kolkata's Penalty on Non-Compliance of CSR Filing

The Registrar of Companies (ROC) in Kolkata has sanctioned a financial penalty of ₹3.50 lakh against a company and its directors for the delayed filing of Form CSR-2 for the financial year 2021-22.

This penalty arises under Rule 12(1B) of the Companies Act, read alongside Section 450, which allows for penalties on defaults in complying with statutory filing obligations. The ROC clarified that timely filings are essential for maintaining transparency and accountability in corporate governance.

"Failure to adhere to mandatory filing timelines undermines the compliance framework set forth by the Companies Act," noted the ROC in its decision.

Such enforcement actions highlight the necessity for companies to maintain diligent compliance practices.

Practitioners should take this ruling as a cautionary tale, stressing the importance of timely reporting to avoid penalties. This decision reflects the increasing scrutiny on corporate conduct and adherence to regulatory requirements.