Singleton OP & Co., a One Person Company, passed certain resolutions on September 15, 2021 which were supposed to be filed with ROC in Form MGT-14, within the stipulated time. However, Singleton OP & Co., filed i

Requirement of filling resolutions and agreements According to section 117(1) of the Companies Act, 2013 (the Act), a copy of every resolution or any agreement, in respect of matters specified in section 117(3) together with the explanatory statement under section 102, if any, annexed to the notice calling the meeting in which the resolution is proposed, shall be filed with the Registrar within thirty days of the passing or making thereof. Penal provisions Section 117(2) of the Act provides the penal provisions in case of failure to file such resolution or agreements. The penal provisions is as under: If any company fails to file the resolution or the agreement under section 117(1) of the Act before the expiry of the period specified therein, such company shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day after the first during which such failure continues, subject to a maximum of two lakh rupees and every officer of the company who is in default including liquidator of the company, if any, shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day after the first during which such failure continues, subject to a maximum of fifty thousand rupees. Lesser penalties in case of One Person Companies and Small Companies However, according to section 446B of the Companies Act, 2013, if penalty is payable for non-compliance by a One Person Company, small company, start-up company or Producer Company, or by any of its officer in default, or any other person in respect of such company, then such company, its officer in default or any other person, shall be liable to a penalty which shall not be more than one-half of the penalty subject to a maximum of two lakh rupees in case of a company and one lakh rupees in case of an officer who is in default or any other person. According to given circumstances, Singleton OP & Co. (One Person Company) has made a delay of 15 Days in filling form MGT-14. Hence, the penalty for Singleton OP & Co. is ₹5750/- and the penalty for every officer in default is ₹5750/-.