Failure to issue share certificates within 2 months from the date of incorporation – ROC imposed Penalty of Rs. 1.50 Lakh on the company and Directors
ROC,NCT OF DELHI & HARYANA, IMPOSED A PENALTY OF ₹1.50 LAKH ON COMPANY& ITS DIRECTORS FOR FAILING TO ISSUE SHARE CERTIFICATES WITHIN 2 MONTHS FROM THE DATE OF INCORPORATION (IN THE CASE OF SUBSCRIBERS TO THE MEMORANDUM), AS REQUIRED UNDER SECTION 56(4) OF THE COMPANIES ACT, 2013.
Reason for Non-Compliance: In the matter of M/s KCP Infra Limited, there was a delay in the receipt of subscription money in the company’s bank acc, resulting in a delay of 21 days and J 105 days in the issuance of share certificates to subscribers.
ROC imposed a penalty of ₹50,000 on the company and ₹1 lakh on its directors for violating Section 56(4) of the Companies Act, 2013.
The Copy of the ROC order is attached herewith for reference.
