Rama Limited fails to maintain Statutory Registers under the provisions of the Companies Act, 2013, due to Lockdown. What kind of penalties are levied against it for failure to maintain Statutory Registers?

The following are the important statutory registers which are required to be maintained under the Companies Act, 2013: Form Name of Register Relevant Section of Companies Act 2013 Penalty MGT-1 Register of Members Section 88 and Rule 3(1) of the Companies (Management and Administration) Rules, 2014. The company shall be liable to a penalty of three lakh rupees and every officer of the company who is in default shall be liable to a penalty of fifty thousand rupees. MBP-2 Register of Loans, Guarantee, Security and Acquisition made by Company Section 186 and Rule 12 of the Companies (Meeting of Board and its Powers) Rules, 2014 The company shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to two years and with fine which shall not be less than twenty-five thousand rupees but which may extend to one lakh rupees. SH-10 Register of Shares / Other Securities Bought Back Section 68 and Rule 17(12) of the Companies (Share Capital and Debentures) Rules, 2014 The company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to three lakh rupees and every officer of the company who is in default shall be punishable with fine which shall not be less than one lakh rupees but which may extend to three lakh rupees. So, Rama Limited fails to maintain Statutory Registers under the provisions of the Companies Act, 2013, will be liable for the above mentioned penalties.