Compounding order under Section 441 of the Companies Act, 2013 for violation of Section 148 of the Companies Act, 2013 in the matter of M/s.OMAX MINERALS PRIVATE LIMITED

1 O/c // '28 FEB/ony mn Application No. RD (NWR)/441/Sec. 148/69/2023-24/ 4%06 fo L4$|0 BEFORE THE REGIONAL DIRECTOR NORTH-WESTERN REGION MINISTRY OF CORPORATE AFFAIRS, AHMEDABAD IN THE MATTER OF THE COMPANIES ACT, 2013

AND- IN THE MATTER OF Omex Minerals Private Ltd HIG-7, Behind Madan Complex, Shankar Nagar Sector- 2, Raipur, Chattisgarh-492007.

• AND - IN THE MATTER OF APPLICATION UNDER SECTION 441 OF THE COMPANIES ACT, 2013 FOR COMPOUNDING OF OFFENCE COMMITED UNDER SECTION 148(2) and 148(6) OF THE COMPANIES ACT, 2013.
• AND - IN THE MATTER OF

Omex Minerals Private Ltd, Company 2. Shri Sushil Kumar Singhal Director 3. Shri Sachin Aggarwal, Director 4 Shri Rajat Singhal, Director wveeeenenne Applicants Date of hearing: - 08.12.2023. Present: - 1. Shri Prerak Piyushkumar Thakkar, Practicing Company Secretary, authorized representative of the applicants vide Board of Director Meeting dated 07.12.2023. 2. Shri R. S. Meena, Joint Director. ORDER An application under Section 441 of the Companies Act, 2013 (here-in- after called as “Act”) for compounding of offences committed under Section 148(2) and 148(6) of the Companies Act, 2013 has been filed by the above named applicants vide SRN F62423009 dated 12.07.2023 with the O/o the Registrar of Companies, Bilaspur, Chattisgarh and thereafter, the same was forwarded along with his report thereon dated 17.10.2023 to this Directorate i.e. 0/o the Regional Director (NWR), Ahmedabad, for consideration.

(a) It is observed from the compounding application that the company has appointed Cost Auditor for the F.Y. 2016-17 in its Board Meeting held on 05.04.2016. As per section 148(2) of the companies Act, 2013 r.w. Rule 2 of Companies (Cost Records and Audit Rule 2014), the company shall file a notice of such appointment with the Central Govt. within a period of thirty days of the Board meeting in which such appointment is made or within a period of one hundred and eight days of the commencement of the financial year, whichever is earlier, through electronic mode, in Form CRA-2. However, in this case, the company has filed Form CRA-2 vide SRN F26484907 on 27.09.2022 for the F.Y. 2016-17. Thereby, the company and its officers in default have violated the provisions of section 148(2) r.w. Companies (Cost Records and Audit Rule 2014). (b) Further, it is also observed from the compounding application that the Cost Audit report for the F.Y. 2016-17 was approved by the Board of Directors in its meeting held on 06.08.2017. As per section 148(6) of the Companies Act, 2013 r.w. Rule 6(6) of the company Companies (Cost Records and Audit Rule) 2014, the said Cost Audit report ought to have been filed within a period of thirty days from the date of receipt of said Audit Report in e-form CRA-4 i.e. on or before 05.09.2017. However, the company has filed Cost Audit report on MCA portal vide SRN F50297696 on 29.11.2022. Thereby, the company and its officers in default have violated the provisions of section 148(6) r.w. Rule (6) of the Companies (Cost Records and Audit Rule 2014). 4. ROC has further reported that the period of default pertains to Financial Year 2016-17. 5; ROC has reported that the default has been made good as the applicant company has appointed the Cost Auditor & filed the relevant e-Form CRA-2 vide SRN F26484907 dated 27.09.2022 required under the provisions of section 148(2) of the Companies Act, 2013. Further it is observed the company has also filed Cost Audit Report in CRA-4 vide SRN F50297696 dated 29.11.2022 for compliance of section 148(6) of the Companies Act, 2013.

ROC has reported that for the violation of section 148(2) and 148(6) of the Companies Act, 2013 fine provided in section 148 (8) of the Companies Act, 2013 and as per provision of section 148 (8) of the Companies Act, 2013, “if a company fails to comply with the provision of the section 148, the company and every officer of the company who is in default shall be punishable in the manner as provided in subsection (1) of the section 147 (the company shall be punishable with fine which shall not be less than twenty —five thousand rupees but which may extend to five lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than ten thousand rupees but which may extend to one lakh rupees or with both).” s During the hearing, Mr. Prerak Thakkar, Practicing Company Secretary and authorized representative of the applicants reiterated submissions made in the application by the applicants. He has further stated that the defaults have already been made good. 8. Shri R. S. Meena, Joint Director stated that the instant application has been forwarded by the O/o ROC, Bilaspur vide letter dated 17.10.2023. After consideration of the submissions made by the applicants in their application and oral submissions made by Mr. Prerak Thakkar, Practicing Company Secretary and authorized representative of the applicants, report submitted by the O/o ROC, Bilaspur and also submission made by Shri R. S. Meena, Joint Director and keeping in mind all the relevant facts and circumstances, it is observed that the applicants have committed default under Section 148(2) and 148(6) of the Companies Act, 2013. After taking into consideration all the relevant facts of the case, the aforesaid defaults are compounded on payment of compounding fees of Rs. 75,000/- on the applicant company and Rs. 25,000/~ on each three Directors for violation of section 148(2) of the Companies Act, 2013.

Further the same fine has also been imposed for violation of section 148(6) of the Companies Act, 2013 i.e. total Rs. 75,000/- on the Company and Rs. 25,000/- on each three Directors to be paid within 10 days hereof. The compounding fee has been paid by the applicants as per the details given below: - Sl. Name of the Fine u/s. Fine u/s. Amount | SRN & Date No. Applicant 148(2) r.w. | 148(6) r.w. (Rs.)

Rule 6(2) Rule (6) | 01. | Omax Minerals 75,000 75,000 1,50,000/- | X62124524 ‘ Private Ltd, Company 02. | Shri Sushil Kumar 25,000 25,000 50,000/- | X62124888 Singhal Director 03. | Shri Sachin Aggarwal, 25,000 25,000 50,000/ | X62120142 | Director 04. | Shri Rajat Singhal, 25,000 25,000 50,000/ |X62122213 | Director The application stands disposed of with these orders. REGIONAL DIRECTOR NWR, AHMEDABAD To, l]!)«RD@W@/LMI/SEOIHB/GQ)&oaa-aqlqgogtD 98 FEB 2024

1. Omex Minerals Private Ltd, Company hslo ey Y HIG-7, Behind Madan Complex, Shankar Nagar Sector 2, Raipur, Chattisgarh-492007. \Z/Shri Sushil Kumar Singhal Director S/0 Satya Narayan Agrawal, 65-A, Transport Nagar, Korba,495677,Chattisgarh. 3,/Shri Sachin Aggarwal, Director S/0 Satya Narayan Agrawal, 65-A, Transport Nagar, Korba,495677,Chattisgarh. 4,/Shri Rajat Singhal, Director M-87, 2nd FLOOR,GK2, GREATER KAILASH,NEW DELHI,110048,Delhi. \S/Registrar of Companies, Bilaspur.... with reference to the letter No. ROC- cum-0I-C.G. Compounding/148/0Omax/000050 dated 17.10.2023. Naresh Chandra STA. For: RD (NWR)