ROC Ernakulam Levies Penalty on Jerry Nidhi Limited for Incomplete PAS-3 Allottee Disclosures

Background and Overview

The Registrar of Companies, Ernakulam (ROC Ernakulam), functioning under the Ministry of Corporate Affairs, has issued an adjudication order against Jerry Nidhi Limited and its directors under Section 454 of the Companies Act, 2013. The enforcement action stems from the company's failure to furnish complete allottee information in its PAS-3 returns, which came to light during the Ministry's processing of the company's NDH-4 application. Since no dedicated penal provision exists for this particular default, the general penalty clause under Section 450 of the Companies Act, 2013 was invoked, resulting in a penalty of ₹10,000 each being levied on the company and each of its defaulting officers.

This order, bearing Order ID: PO/ADJ/04-2026/EK/02029, was passed on 23rd April 2026 and serves as a significant reminder to companies — particularly Nidhi companies — about the critical importance of maintaining accurate and complete statutory filings.

Details of the Company and Officers Involved

Jerry Nidhi Limited (CIN: U67190KL2017PLC048459) is a company incorporated under the provisions of the Companies Act, 2013, and is registered with the office of ROC Ernakulam. Its registered office is located at KP 11 760 C (TC1/2499), Ganga Tower, Kazhakuttam P.O., Thiruvananthapuram, Kerala – 695582.

The adjudication proceedings were initiated against the following individuals in their capacity as officers in default:

  • Dulanemingirl Nepolean Fernandez (DIN: 02873380)
  • Jerry Fernandez (DIN: 02873384)
  • Dulcinejerry (DIN: 07674560)
  • Alan Jerry (DIN: 08984997)
  • Winnejerry (DIN: 09493591)

Appointment of Adjudicating Officer

The adjudicating authority for this matter was appointed pursuant to the Ministry of Corporate Affairs' Gazette Notification No. S.O. 698(E) dated 10th February 2026, issued under Section 454 of the Companies Act, 2013, read alongside the Companies (Adjudication of Penalties) Rules, 2014. The Registrar of Companies, ROC Ernakulam, was designated as the Adjudicating Officer for the purpose of determining and imposing penalties under applicable provisions of the Act.

Provision Violated — Rule 14(6)

The company was found to have violated Rule 14(6) of the Companies (Prospectus and Allotment of Securities) Rules, 2014, which mandates that complete and accurate details of allottees must be disclosed in the returns filed through Form PAS-3. The return of allotment filed under this rule is an essential compliance obligation for companies undertaking allotment of securities, and any omission or incompleteness in the allottee list constitutes a statutory violation.

General Penalty Under Section 450

Since the Companies Act, 2013 and the rules framed thereunder do not provide a specific penalty for the violation of Rule 14(6) of the Companies (Prospectus and Allotment of Securities) Rules, 2014, the residuary penal provision — Section 450 of the Companies Act, 2013 — was attracted. The relevant extract of Section 450 reads as under: