Registrar of Companies (ROC) has sent a Notice to a Company alleging default under Section 92(4) and Section 137(2) of the Companies Act, 2013. On receiving the notice, the Company immediately arranges to file the respec

Section 454(3) of the Companies Act, 2013 (the Act), provides that the adjudicating officer may, by an order- (a) impose the penalty on the company, the officer who is in default, or any other person, as the case may be, stating therein any non-compliance or default under the relevant provisions of the Act; and (b) direct such company, or officer who is in default, or any other person, as the case may be, to rectify the default, wherever he considers fit. However, a proviso has been to section 454(3) of the Act inserted vide the Companies (Amendment) Act, 2020 w.e.f. 22.01.2021, which provides as under: In case the default relates to non-compliance of section 92(4) or section 137(1) or 137(2) and such default has been rectified either prior to, or within thirty days of, the issue of the notice by the adjudicating officer, no penalty shall be imposed in this regard and all proceedings under this section in respect of such default shall be deemed to be concluded. Accordingly, in the given case, the Registrar of Companies, who is the designated Adjudicating Officer for levying penalties under the above mentioned provisions is not empowered to proceed to levy penalty if the requisite Forms prescribed under the said provisions have been filed within 30 days of issue of the Notice.