Adjudication order for violation of section 203 of Companies Act, 2013 in the matter of M/s. Sanmati Infradevelopers private limited.

F. No:9/41/ADJ/SEC.203 of 2013/ROC(B)/RD(SER)/2025 BEFORE THE REGIONAL DIRECTOR, SOUTH EAST REGION MINISTRY OF CORPORATE AFFAIRS, HYDERABAD IN THE MATTER OF COMPANIES ACT, 2013 IN THE MATTER OF PONNDICHERRY SPECIAL ECONOMIC ZONE COMPANY LIMITED (Dissolved) SANMATI INFRADEVELOPERS PRIVATE LIMITED (Transferee)

• [SANMATI][INFRADEVELOPERS][PRIVATE][LIMITED]

• A[M/s.] Golden Enclave, Corporate Block, Tower C, 3° Floor, Hal Old Airport Road, Bangalore, 560017, Karnataka.

2. Mr. Chandra Prakash Kothari (Managing Director)

   • B-79, W3/3, Sainik Farms, Khanpur, Delhi-110062.

3. Mr. Deepak Sethi, (Managing Director) Villa No. B-9, Yemalur Homes Owners Association, Epsilon Ventures, Yemalur Main Road, Bangalore-560037.

4. Mr. Srikantha Sathyanarayana Rao Jaglur, (Chief Financial Officer) No. 146/07, 1% Floor, Deepashree, Sri Muneshwara Temple Road, Vinagar, R.M.V. Extensioner, II Stage, Bangalore, 560094, Karnataka.

teens Appellants

Date of hearings: 05.01.2025, 18.03.2025 Present: Mr. Thirupal Gorige, PCS

ORDER

1. M/s. SANMATI INFRADEVELOPERS PRIVATE LIMITED has filed an appeal under section 454(5) of the Companies Act, 2013 along with the above appellants in e-form ADJ vide SRN AB2081528 dated 05.12.2024 against the adjudication order issued vide F.No. ROCB/Adj.454-203/Pondicherry SEZ/Co.No.160225/2024/3995 to 3998 dated 29.10.2024 under section 454(5) of the Companies Act, 2013 read with section 203 of the Companies Act, 2013 passed by the Registrar of Companies, Bangalore.

EROST

2. Registrar of Companies in his Adjudication “order dt. 29.10.2024 has stated that adjudication application has been filed regarding non-appointment of Key managerial persons i.e., violation of section 383A of the Companies Act, 1956 and section 203 of the Companies Act, 2013. The company has submitted that after its paid-up capital crossed the applicable threshold to appoint key managerial personal, the company was required to appoint whole time company Secretary or key managerial persons, as

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• applicable under the provisions of section 383A of the companies Act, 1956 and section 203 of the Companies Act, 2013, the ROC has fixed a penalty as under: La haePenalty imposed under 500,000

• fo [eempany Fe? sd flnco4 Srikantha SathyanarayanaS|Rao Rs.RN1,50,000/-

and section 203 of the Companies Act, 2013, the ROC has fixed a penalty as under: La haePenalty imposed under 500,000

• fo [eempany Fe? sd flnco4 Srikantha SathyanarayanaS|Rao Rs.RN1,50,000/-

3. The matter was heard on 18.03.2025. Mr. Thirupal Gorige, Company Secretary in practice/Authorised representative has attended the personal hearing on behalf of the applicants on 18.03.2025 before the Regional Director.

4. After hearing the Authorised representative, and documents submitted therewith, it is observed that there is no defect in the penalty imposed on Appellant No. 1,3,4 Le., Sanmati Infradevelopers Private Limited, Deepak Sethi, Srikantha Sathyanarayana Rao Jagalur, CFO by ROC. Hence the same is confirmed.

5. Further, the Appellant No. 2 was a director only for a period from 13.06.2010 to 07.10.2012 therefore the penalty given u/s 203 is not applicable to him. Therefore, the order of AO against Appellant No. 2 is set aside.

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0 to 07.10.2012 therefore the penalty given u/s 203 is not applicable to him. Therefore, the order of AO against Appellant No. 2 is set aside.

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