2022 (11) TMI 58

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..... es) Rules, 2014 for adjudging penalties under the provisions of this Act. 2. Company Whereas, the Company ELANCO INDIA PRIVATE LIMITED [herein after known as Company] is a registered company with this office under the provisions of Companies Act, 1956 having its registered address at Western Edge I, Unit 201, 2nd Floor, Near Western Express Highway, Borivali (East), Mumbai, Mumbai City, Maharashtra 400066, India as per the MCA portal. 3. Facts out the Case: The Company has filed application for adjudication for violation of provisions of Section 203 of the Companies Act 2013 read with Rule 8A of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Whereas, it has been observed from the application and records of .....

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..... ny who is in default shall be liable to a penalty of fifty thousand rupees and where the default is a continuing one, with a further penalty of one thousand rupees for each day after the first during which such default continues but not exceeding five lakh rupees. 5. Hearing and reply of the Company: PCS Prachi Mota, Authorized Representative of the Company attended the hearing physically on 29.08.2022 and submitted that the Company has complied with the provisions of Section 203 of the Companies Act, 2013 by appointing Ms. Pooja Jain as Whole Time Company Secretary. She further made the submission that the Managing Director should be considered the Officer in default and lesser penalty should be imposed on the other two Directors being .....

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..... / Director(s) First default Penalty in (Rs.) Default continues  Penalty in (Rs.) Total Penalty in (Rs.) Maximum Penalty in (Rs.) 122 1. ELANCO INDIA PRIVATE LIMITED 5,00,000 122 X 1,000 6,22,000 6,22,000 2. BALLABH KUMAR 50,000 122 X 1,000 1,72,000 1,72,000 3. VISHAL AJIT SHAH 50,000 122 X 1,000 1,72,000 1,72,000 4. AJIT KUMAR SINGH BHADOURIA (Managing Director) 50,000 122 X 1,000 1,72,000 1,72,000         TOTAL PENALTY 11,38,000 (-) Thu period of violation of provisions under Section 203 of the Companies Act, 2013 is from 20-Sept -2021 till 20-Jan-2022 and delay is 122 days. As per signatory details available on MCA-21 portal, the above-mentioned individuals were Officers in defaul .....

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