ROC Kanpur Penalizes Nidhi Company and Directors for Filing Unsigned Financial Statements in Form AOC-4
The Registrar of Companies (ROC), Kanpur, acting under the Ministry of Corporate Affairs (MCA), has issued an adjudication order penalizing a registered company and its officers for procedural non-compliance. The order, dated January 23, 2026, addresses the violation of Section 134(1) of the Companies Act, 2013, specifically regarding the filing of unsigned financial statements.
Legal Framework and Provisions
The adjudication was carried out under Section 454 of the Companies Act, 2013, read with the Companies (Adjudication of Penalties) Rules, 2014. The core violation pertains to Section 134, which mandates the approval and signing of financial statements.
Requirement under Section 134(1)
The Act stipulates that financial statements, including the consolidated financial statement (if any), must be approved by the Board of Directors and signed on behalf of the Board. Filing these documents without the requisite signatures constitutes a breach of statutory compliance.
Penalty under Section 134(8)
"If a company is in default in complying with the provisions of this section, the company shall be liable to a penalty of three lakh rupees and every officer of the company who is in default shall be liable to a penalty of fifty thousand rupees."