ROC Kolkata Penalty for Non-Filing of Financial Statements under Section 137(3): Key Takeaways for Companies and Directors
1. Background of the Adjudication Proceedings
The Registrar of Companies, Kolkata initiated adjudication proceedings under Section 454 of the Companies Act 2013 against MULTI PURPOSE BIOS INDIA LIMITED and its officers for violation of Section 137(3) arising from non-filing of financial statements for the financial year 2022–23.
The adjudication culminated in a penalty order dated 19/03/2026, whereby monetary penalties were imposed both on the company and on its directors, along with directions to regularise the default within a stipulated period.
This order serves as a reminder that timely filing of financial statements is a statutory obligation and that continued default invites financial and procedural consequences for both the company and its key managerial personnel.
2. Appointment and Authority of the Adjudicating Officer
The Ministry of Corporate Affairs, through Gazette Notification No. S.O. 831(E) dated 24/03/2015, appointed the Registrar of Companies, Kolkata, as the Adjudicating Officer under Section 454 of the Companies Act 2013.
This appointment empowers the ROC:
- To adjudicate penalties for contraventions of various provisions of the Companies Act 2013,
- To act in accordance with the Companies (Adjudication of Penalties) Rules, 2014, and
- To pass orders imposing penalties where defaults are established and not rectified or satisfactorily explained.
The adjudication in this matter was therefore carried out in exercise of these statutory powers.
3. Details of the Company and Officers Involved
3.1 Company details
- Name: MULTI PURPOSE BIOS INDIA LIMITED
- CIN: U24240WB2006PLC108460
- Registered Office Address:
GANGAPUR NORTH P O DUTTA PUKUR 24 PARGANAS NA
KOLKATA KOLKATA
WEST BENGAL INDIA 743248
The company is registered with the ROC, Kolkata, under the Companies Act 1956/2013 framework.
3.2 Individuals covered by the order
The adjudication order specifically refers to the following officers:
- LAXMI KANTA DAS (DIN: 01214783)
- MONALISA MITRA (DIN: 01324882)
These persons were treated as officers in default for the purposes of penalty under Section 137(3) read with Section 454.
4. Statutory Framework: Section 137(3) and Related Provisions
4.1 Requirement under Section 137
Section 137 of the Companies Act 2013 mandates that:
A copy of the financial statements, including consolidated financial statements (if applicable), together with all documents required to be attached under the Act, and duly adopted at the annual general meeting (AGM), must be filed with the Registrar of Companies within 30 days from the date of the AGM, along with the prescribed fees or additional fees as per
Section 403.
Non-compliance with this filing requirement for any financial year constitutes a default under Section 137(3).
4.2 Penalty under Section 137(3)
Section 137(3) prescribes the following penalty structure:
For the company
- Initial penalty: ₹10,000
- Continuing failure: Additional ₹100 per day of continuing default
- Overall ceiling: Maximum of ₹2,00,000
For managing director, Chief Financial Officer, or responsible director(s) (and, failing them, all directors):
- Initial penalty: ₹10,000
- Continuing failure: Additional ₹100 per day after the first day of default
- Overall ceiling: Maximum of ₹50,000 per individual
These penalties are civil in nature and are adjudicated under Section 454.