IN FORCE MCA Regional Director 2025-12-12

Compounding order under Section 441 of the Companies Act, 2013 for violation of Section 129 of the Companies Act, 2013 in the matter of M/s.Jindal India Power Limited

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BEFORE THE REGIONAL DIRECTOR (NORTHERN REGION) Company Application No. RDNR/COMP/JIPL/AS-109/ N26204180 In the matter of the Companies Act, 2013-Section 441 And In the Matter of JINDAL INDIA POWER LIMITED (FORMERLY KNOWN AS JINDAL INDIA THERMAL POWER LIMITED) having registered office at Habitat India, C-3, Qutab Institutional Area, Katwaria Sarai, South-West Delhi, New Delhi-1100016, India

In the matter of:

  1. Mr. Punit Gupta,

  2. Ms. Divya Saini,

  3. Mr. Anand Mohan Misra,

  4. Mr. Neelesh Nema,

  5. Mr. Ajay Khandelwal,

  6. Mr. Nageswararao Sajja

  7. Mr. Manoj Dhaka

  8. Ms. Kaminee Girdhar

  9. Mr. Kishore Arcot

  10. Mr. Vijayabhaskar Duggempudi

  11. Mr. Sunil Kumar Agarwal 12. Mr. Prabhat Kumar Budhwar

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----- Start of picture text -----<br> ... Applicants<br>----- End of picture text -----<br>

Present:

Ld. Deepak Kukreja, PCS Ms. Aruna M, Assistant Director

.... For the Applicants .....-Presenting Officer

Date of Hearing: 03.09.2025

ORDER

  1. An application under Section 441 of the Companies Act, 2013 for compounding of defaults committed u/s 129 of the Companies Act, 2013 r/w IND AS 109 has been filed by the aforesaid applicants vide Form GNL-1 through SRN N26204180.

  2. As per the application, the Applicants have defaulted under the provisions of Section 129 of the Companies Act, 2013 r/w IND AS-109 in the financial statements of the JINDAL INDIA POWER LIMITED (FORMERLY KNOWN AS JINDAL INDIA THERMAL POWER LIMITED) for financial year ended 31.03.2018, 31.03.2019 and 31.03.2020, and the Board of directors of the Company have failed to provide the complete disclosure as per AS-109 in respect of Current and Non-current Investments, in the Books of Accounts related to non-compliance of accounting standard Ind AS 109 in the financial statements for the aforesaid said financial years.

  3. The Registrar of Companies, Delhi & Haryana has submitted its report vide letter dated 02.05.2025 wherein it has been reported that:

    • i. The period of default is from FY 2017-18 to 2019-20.

    • ii. | No prosecution has been filed in the matter before any court.

    • lili. | No such offence has been compounded during the last three years. Page 1 of4

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  • iv. The Petitioner Company has made its default good in respect of contravention of section 129 r/w IND AS 109 of the Companies Act, 2013 by disclosing all relevant information regarding investment and their carrying amount, mode of valuation, market value etc. in the balance sheet of the Company in the FY 2022-23

  1. Ld. PCS Deepak Kukreja for the applicants confirmed the admission of default and submitted that the Company examined the aforesaid compliance(s) related to disclosures required under section 129 of the Act r/w IND AS-109 including for further years, thus, the officers in default are liable for penal actions for financial year ended 31.03.2018, 31.03.2019, 31.03.2020, 31.03.2021 and 31.03.2022.

  2. Further, Ld. PCS submitted that the above said default has been made good by the Applicant Company by disclosing all relevant information regarding investment and their carrying amount, mode of valuation market value etc. in the balance sheet of the Company in the FY 2022-23 and also obtained an Auditor’s Certificate dated 27.12.2024, confirming that all instances of default of Section 129 of the Companies Act, 2013 r/w IND AS-109 have been made good.

in the FY 2022-23 and also obtained an Auditor’s Certificate dated 27.12.2024, confirming that all instances of default of Section 129 of the Companies Act, 2013 r/w IND AS-109 have been made good.

  1. Further, Ld. PCS prays for leniency and submits that Mr. Punit Gupta and Ms. Divya Saini resigned as Director(s) on 08.05.2018, Mr. Prabhat Kumar Budhwar resigned as Director on 02.09.2017 and Mr. Ajay Khandelwal resigned as CFO on 25.08.2018, therefore, not officers in default during the period of default, which may be considered while imposing compounding fee.

  2. The Presenting Officer Ms. Aruna M, Assistant Director, based on ROC report and the information available on MCA portal, has informed that procedural compliances under section 441 of the Companies Act, 2013 and Rules for compounding have been duly complied.

  3. Keeping in view of the facts and circumstances of the case and considering the submission made, by virtue of the powers vested with the Regional Director, the default committed under section 129 of the Companies Act, 2013 r/w IND AS 109 for FY 2017-18 to FY 2021-22 is compounded subject to the payment of compounding fee as below:

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n 129 of the Companies Act, 2013 r/w IND AS 109 for FY 2017-18 to FY 2021-22 is compounded subject to the payment of compounding fee as below:

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----- Start of picture text -----<br> No. Years fees imposed _<br>2 Mr. Manoj Dhaka (ii)(i) 2017-18 2018-19 (i)(i) Rs.Rs.80,000&9 80,000 —|e" Aesoe a)<br>(iii) 2019-20 (iii) Rs. 80,000/- ear oe<br>(iv) 2020-21 (iv) Rs. 80 006 Fi th $<br>v) 2021-22 vy) _ Rs. 80,Q004 |*anzo + %<br>(ii) 2018-19 (ii) — Rs. 80,000/-: ‘reth S<br>Page 2 of 4 VY<br>----- End of picture text -----<br>

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----- Start of picture text -----<br> Ms. Kaminee Girdhar 2019-20 Rs. 1,00,000/-<br>2018-19 Rs.1,00,000/-<br>Mr. Kishore Arcot (i) 2020-21 (i) Rs. 80,000/-<br>ii) 2021-22 il Rs. 80,000/-<br>7 Mr. Vijayabhaskar Duggempudi (i) 2020-21 (i) Rs. 80,000/-<br>(ii) 2021-22 (ii) Rs. 80,000/-<br>S| Mr. Sunil Kumar Agarwal 2021-22 Rs. 1,00,000/-<br>----- End of picture text -----<br>

  1. Pursuant to this Forum's directions dated 16.09.2025, compounding fees have been paid by the applicants as per details given below:

22 Rs. 1,00,000/-<br>----- End of picture text -----<br>

  1. Pursuant to this Forum's directions dated 16.09.2025, compounding fees have been paid by the applicants as per details given below:
|S.<br>No.|||Name<br>of<br> applicant(s)|the||ChallanNo./<br>Total<br>Dated<br>BhartKoshOrderId |Amount<br>paid<br>(Rs.||ChallanNo./<br>Total<br>Dated<br>BhartKoshOrderId |Amount<br>paid<br>(Rs.|
|---|---|---|---|---|---|
|1||Mr.AnandMohan||UU1295745/|1,00,000/- |24/09/2025|
|||Mishra||1-21212014692||
|z||Mr. Manoj Dhaka||UU1309742/|4,00,000/- |28/09/2025|
|||||1-21319403525||
|3||Mr. NeeleshNema||UU1312829/|2,40,000/- |29/09/2025|
|||||1-21351788686||
|||Ms.KamineeGirdhar<br>Mr. Nageswararao Sajja_|||UU1318919/<br>1-21377581693<br>|UU1312718/<br>1-21349401764|1,00,000/- |30/09/2025<br>1,00,000/- | 29/09/2025|
|||Mr. Kishore Arcot||UU1317018/|1,60,000/- |30/09/2025|
|||||1-21369785715||
|7||Mr. Vijayabhaskar||UU1312537/|1,60,000/- |29/09/2025|
|||Duggempudi<br>Mr. Sunil Kumar||1-21346194239<br>UU1317261/|1,00,000/- |30/09/2025|
|||Agarwal||1-21370839805||
  1. In view of the aforesaid and compounding fees having been paid by the applicants, the aforementioned offence is hereby compounded in respect of the applicants.

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oresaid and compounding fees having been paid by the applicants, the aforementioned offence is hereby compounded in respect of the applicants.

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----- Start of picture text -----<br> Signed on the _ day of November 2025 at New Delhi<br>12 DEC 2005 al<br>(VINOD SHARMA)<br>REGIONAL DIRECTOR (NR)<br>tee: ; USt- 467<br>_ Entd. RDNR/COMP/JIPL/AS 109/ N26204180 } Dated 12 DEC 2005 be<br>1. Mr. Punit Gupta, SEoe RES SLTDN,<br>D-99, First Floor, Anand Niketan, South Moti Bagh, New Delhi-110021, India” 2% ae 2, [a]<br>‘s Page 3 of 4 7 5 ag Qe<br>\eehaseeeeee aS at 9 erFe<br>----- End of picture text -----<br>

  1. Ms. Divya Saini, Mohalla Taken, Near Saini Villa, College Road Gangoh, Saharnpur, Uttar Pradesh247341, India

  2. Mr. Anand Mohan Misra, O-52, Nivedita Kunj, R.K. Puram,Sector 10, South-West Delhi, New Delhi-110022, India

  3. Mr. Neelesh Nema, Flat 2702, Tower 8, M3M Merlin, Sector-67, Badshahpur Gurgaon-122101, India

  4. Mr. Ajay Khandelwal, A-6/10, Vasant Vihar, New Delhi-110057, India

  5. Mr. Nageswararao Sajja, Plot No. 15, Vasanth Nagar, Poranki (Rural), Poranki, Andhra Pradesh 521 137, India

  6. Mr. Manoj Dhaka, C-10, Mahendra Enclave, Near Shastri Nagar, Kavi Nagar, Ghaziabad-201002, India

  7. Ms. Kaminee Girdhar, 4/5 D, Apna Enclave, Railway Road, Gurgaon , Haryana-122001

  8. Mr. Kishore Arcot, R/O 508, DY Apartments, near Samaleswari Hospital, Ekateli, Jharsuguda 768202, Odissa, India

10. Mr. Vijayabhaskar Duggempudi,

  • MIG 686, HUDA Mayuri Nagar, Miyapur, Hyderabad- 500049, India

11. Mr. Sunil Kumar Agarwal,

  • House No. 36, Road No.62, West Punjabi, Bagh, New Delhi- 1 10026, India
  1. Mr. Prabhat Kumar Budhwar,
  • 459, Mount Kailash Tower-2, East of Kailash, New Delhi 1 10065, India
  1. Registrar ofCompanies, NCT of Delhi & Haryana.

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