Adjudication order for violation of section 29 of Companies Act, 2013 in the matter of M/S. Shivom Minerals Limited

L Application No. RD/ 45,4l52l2O24l Aooeal s I 776 BEFORE THE REGIONAL DIRECTOR, EASTERN REGION MINISTRY OF CO TE AFFAIRS. KOLKATA IN THE MATTER OF' THE COMPANIES ACT, 2013 .AND. IN THE MATTER OF

1. Shivom Minerals Limited P-25, Civil Township, Rourkela, Orissa-769004. (CIN: U26941 OR 1999PLC005785) .AND IN THE MATTER OF Application under section 454(5) of The Companies Act, 20L3 for preferring an appeal against the penalty order dated 05.07.2024 of the Registrar of Companies, Cuttack, passed for violating the Provisions of Section 29 of the Companies Act, 2OL3. .AND.
2. Shivom Minerals Limited P-25, Civil Township, Rourkela, Orissa-769004. (CIN: U26941OR1999PLC005785) E 8 f. \

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2 2. Vikash Gupta (DIN- OL3267OS) AT- 1/ 15, Civil Township, Rourkela, 769004, Orissa. 3. Pankhuri Agarwal (DIN/PAN- BJZPAO62ODI (CFO) AT-G9, First Floor, Civil Township, Infront of Sanjivini Park, Rourkela,769004, Orissa. 4. Kanika Bung (DIN/PAN- BBCPB4567M
AT-S/ 11, Civil Township, 2nd Floor Rourkela, 769004, Orissa. 5. Biswajit Adhya (DIN- AVEPA9997P) AT-Killa Pokhari Road, Town- 10, Balasore,756003, Orissa. 6. Ayushi Gupta (DIN/PAN- BRMPG2928R) AT-43, Sri HarinRam Goenka Street, Burrabazar, Kolkata-700007, West Bengal. 7. Ravikant Sharma (DIN/Pan- CWP1908F) At-SSS/3, Civil Township, Dist. Sundergarh, Rourkela,T 69004, Orissa APPELLANTS Date of Hearing L7,O7,2025 Present : Mr. Nitin Daga, Learned Practicing Chartered Accountant and Authorized Representative on behalf of the Appellants. lt ;L>, ORDER 1.

ela,T 69004, Orissa APPELLANTS Date of Hearing L7,O7,2025 Present : Mr. Nitin Daga, Learned Practicing Chartered Accountant and Authorized Representative on behalf of the Appellants. lt ;L>, ORDER

1. The present appeal has been preferred under section 4 Companies Act,2013 read with the provisions of the il l.: r\i s4(s) Companies 2lPage

3 (Adjudication of Penalties) Rules, 2Ol4 vide Form ADJ bearing SRN no. F98O65659 dated 03.09.2024 against the penalty order dated O5.O7.2024 for violation of Section 29 of the Companies Act, 2013 passed by the Adjudicating Authority i.e. Registrar of Companies, Cuttack, Odisha communicated to the appellants vide letter no. ROC/CTC I Ao lSec.29l578sl2o24l374(81 dated 05.07.2024. The appeal was filed within 60(sixty) days as per Section 454(6) of the Companies Act, 2013. 2. As per the aforesaid adjudication order of the Registrar of Companies, Cuttack has issued a show cause notice for violation of section 29 of the Act vide letter no ROC/Sec.454 I Sec.29 I OO5785l 2024 121 1(8) dated 21.05.2024 to the said Company and its Officers in default. In this regard, no satisfactory reply was received by the ROC, Cuttack, from the Company and its oflicers for the aforesaid show cause notice. 3. considering the above facts and circumstances of the case, the Adjudicating Authority has imposed Penalty for violation of Section 29 of the Act as under: - 3lPage

he aforesaid show cause notice. 3. considering the above facts and circumstances of the case, the Adjudicating Authority has imposed Penalty for violation of Section 29 of the Act as under: - 3lPage

4 Documents required to be filed No. ofdays in default Maximum penalty on the Company in INR (as per law) Maximum Penalty in INR (as per lawf on Officers in default i.e. l.Vikash Gupta 2.Pankhuri Agamral 3.Kanika Bung 4.Biswajit Adhya S.Ayushi Gupta 6.Ravikant Sharma Company to maintain its securities in dematerialized form as required u/s 29 of the Companies Act,2013 1361 days from 01.10.2018 to 27.06.2022 Rs. 2,00,000 Rs. 50,000 on each officer in default (50,0006) =3,00,000 Total 2,00,000 3,00,000 i.e. 50,0006 (officers in default) each 4. Having considered the facts and circumstances of the case and after taking into account the factors above, ROC, Cuttack imposed a penalty of Rs. 2,OO,OOO/- (Rupee lbo Lakh Onlylon the concerned Company and Rs. 3,OO,OOO/- (Rupees Three Lakh Onlyl i.e. Rs. 5O,OOO/- (Rupees Fifty Thousand Onlyf on each officer, under Section 45O of the Act, for failure to make compliance provision of Section 29 of the companies Act, 20L9. cl 5 a, * + 4lPage l,J.l

. Rs. 5O,OOO/- (Rupees Fifty Thousand Onlyf on each officer, under Section 45O of the Act, for failure to make compliance provision of Section 29 of the companies Act, 20L9. cl 5 a, * + 4lPage l,J.l

5 5. The appeal was heard on 17.07.2025. The Authorised Representative Shri Nitin Daga, Ld. Practicing Chartered Accountant was asked to make submission regarding infirmity in the order of Registrar of Companies, the Authorised Representative could not made out any ground u/s 454(7) of the Companies Act, 2Ol3 under which the order can be modified. Accordingly, the undersigned by virtue of the power vested under section 454(7) of the Companies Act, 2Ol3 read with the Companies (Adjudication of Penalties) rules,2Ot4 confirms the order of the Registrar of Companies, Cuttack dated 05.07 .2024. 6. The Company and directors/officers of the company shall pay the amount of penalty from out of their own pockets. The amount of penalty shall be paid within a period of 90 days from the date of receipt of the copy of the order. Further, if the company and its directors fail to deposit the penalty amount within the prescribed time limit action under section 454 (8) (i) and (ii) of the Companies Act, 2013 shall be initiated against the Company and its Directors. 7. Hence, the instant Appeal stands disposed of accordingly. u,_ (Rakesh Kumar Tiwari) REGIONAL DIRECTOR (ER) Signed this on the 27th day of October, 2OZS. .'1 :l k *r rui, 5lPage

and its Directors. 7. Hence, the instant Appeal stands disposed of accordingly. u,_ (Rakesh Kumar Tiwari) REGIONAL DIRECTOR (ER) Signed this on the 27th day of October, 2OZS. .'1 :l k *r rui, 5lPage

6 Copy to: - Shivom Minerals Limited P-25, Civil Township, Rourkela, Orissa-769004. (CIN: U26941 OR 1 999PLC005785) 2. Vikash Gupta (DIN- 01326705l AT-1/ 15, Civil Township, Rourkela, 769004, Orissa. 3. Pankhuri Agarwal (DIN/PAN- BJZPA0620D) (CFO) AT-G9, First Ploor, Civil Township, Infront of Sanjivini Park, Rourkela,769004, Orissa. 4. Kanika Bung (DIN/PAN- BBCPB4567M) AT-S/ 11, Civil Township, 2nd Floor Rourkela,769004, Orissa. 5. Biswajit Adhya (DIN- AVEPA9997P) AT-Killa Pokhari Road, Town- 10, Balasore,756003, Orissa. 6. Ayushi Gupta (DIN/PAN- BRMPG2928R
AT-43, Sri HarinRam Goenka Street, Burrabazar, Kolkata-700007, West Bengal. 7. Ravikant Sharma (DIN/Pan- CLZP1908F) At-SSS/3, Civil Township, Dist. Sundergarh, Rourkela,769OO4, Orissa. 46 'ls' f* 6lPage (+