ROC Coimbatore Imposes Penalty Under Section 450 for Delayed MR-1 Filing — Veejay Lakshmi Engineering Works Limited
Background and Overview
The Registrar of Companies, Coimbatore, exercising adjudicatory powers conferred under Section 454 of the Companies Act, 2013, issued a penalty order against Veejay Lakshmi Engineering Works Limited and its officers in default for contravening Section 196 of the Companies Act, 2013. The contravention arose from the company's failure to file e-Form MR-1 within the prescribed timeline following the reappointment of its Whole-Time Director. Since Section 196 does not independently prescribe any penal consequence, the penalty was levied under the residual penalty provision contained in Section 450 of the Companies Act, 2013.
The adjudication order bears Order ID PO/ADJ/07-2026/CB/02541, issued on 16/07/2026, by the Registrar of Companies, Coimbatore, located at No. 7, AGT Business Park, I Floor, Phase II, Avinashi Road, Civil Aerodrome Post, Coimbatore, Tamil Nadu – 641014.
Appointment of the Adjudicating Officer
The Ministry of Corporate Affairs, through Gazette Notification No. S.O. 698(E) dated 10/02/2026, formally designated the undersigned officer as the Adjudicating Officer under Section 454 of the Companies Act, 2013, read with the Companies (Adjudication of Penalties) Rules, 2014. This appointment authorises the officer to adjudge and impose penalties for contraventions of the provisions of the Companies Act, 2013.
Company and Individual Details
Company: Veejay Lakshmi Engineering Works Limited
CIN: L29191TZ1974PLC000705
Registered Office: Sengalipalayam NGGo Colony Post, Sengalipalayam, Coimbatore North, Coimbatore, Tamil Nadu – 641022
The following individuals were identified as parties to the adjudication:
- Devaraj Ranganathan (Whole-Time Director)
- Vaiyampalayam Krishnama Naidu Swaminathan
- Vaiyampalayam Janarthanam Jayaraman (deceased on 17/10/2025)
- Jayaraman Anand
Relevant Statutory Provisions
Section 196 — Appointment of Managing Director, Whole-Time Director or Manager
Section 196 of the Companies Act, 2013 governs the appointment and reappointment of key managerial personnel including managing directors, whole-time directors, and managers. Sub-sections (1) and (2) of this provision lay down the following restrictions:
- A company cannot simultaneously appoint or employ both a managing director and a manager.
- No company is permitted to appoint or reappoint any individual as a managing director, whole-time director, or manager for a tenure exceeding five years at a time.
Crucially, Section 196 does not contain any independent penal provision for non-compliance with its requirements.