Penalty Imposed on Director for Incorrect Subsidiary Status Disclosure in E-Form AOC-4 — ROC Mumbai Order
Overview of the Adjudication Proceeding
The Registrar of Companies, Mumbai-I exercised its adjudicatory powers under Section 454 of the Companies Act, 2013 in a matter concerning an erroneous filing of E-Form AOC-4 for the financial year 2024–25. What makes this case particularly noteworthy is that the adjudication was triggered not by regulatory detection but through a suo-motu application submitted by the director himself, acknowledging the mistake and seeking resolution through the prescribed legal mechanism.
The proceeding culminated in the imposition of a monetary penalty of ₹10,000 on the director personally, with the company being absolved of direct liability. This order serves as a significant reminder to all authorised signatories of e-forms filed under the Companies Act, 2013 that digital certification carries full legal responsibility for the accuracy of the information disclosed therein.
Key Details of the Order
| Particulars | Details |
|---|---|
| Issuing Authority | Registrar of Companies, ROC Mumbai-I |
| Order Reference | Order ID: PO/ADJ/04-2026/MH/02058 |
| Date of Order | 24th April 2026 |
| Company Name | Shikshavikas Foundation |
| CIN | U85499MH2024NPL421136 |
| Director/Officer in Default | Mr. Ankur Ashok Gajjaria (DIN: 10544569) |
| Provision Violated | Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014 |
| Penalty Section Invoked | Section 450 of the Companies Act, 2013 |
| Penalty Imposed | ₹10,000 |
Background and Nature of the Default
The Company and Its Filing
Shikshavikas Foundation, a company registered under the Companies Act, 2013 bearing CIN U85499MH2024NPL421136, with its registered office at 9th Floor, Maker Chamber IV, 222 Nariman Point, Mumbai, Maharashtra — 400021, had filed E-Form AOC-4 for Financial Year 2024–25 on 19th December 2025 vide SRN AB9800309.
The Error in the E-Form
While completing the e-filing, the director, Mr. Ankur Ashok Gajjaria, inadvertently selected "No" in response to the question at Point 8(a) of the form, which enquired:
"Whether the company is a subsidiary company as defined under clause (87) of Section 2"
The correct response, as per the actual status of the company, should have been "Yes." This selection error, although seemingly minor, constituted a factual misstatement in a legally certified statutory filing.
Auto-Approval Through STP Mode
Compounding the issue, the incorrectly filled E-Form AOC-4 was automatically approved under the Straight-Through Process (STP) mode, without any manual review by the Registrar's office. This highlights a systemic vulnerability where errors in such fields can pass through regulatory filters undetected, placing the entire burden of accuracy squarely on the authorised signatory.
The form had been digitally signed by Mr. Ankur Ashok Gajjaria in his capacity as Director, and a formal declaration was made by him at the time of submission, making him personally accountable for the correctness of the contents.
Legal Framework — Provisions Applicable
Rule 8(1) and Rule 8(3) of the Companies (Registration Offices and Fees) Rules, 2014
The foundation of this penalty order rests on Rule 8 of the Companies (Registration Offices and Fees) Rules, 2014, which governs the authentication and responsibility associated with electronic forms filed with the Registrar:
**Rule 8(1)😗* An electronic form shall be authenticated by authorised signatories using digital signature.