Compounding Order under Section 441 of the Companies Act, 2013 in the matter of M/s. Sri Vaishnavi Benefit Fund Limited

CA No.237/Sec.441/RD (SR)/2025-26 BEFORE THE REGIONAL DIRECTOR (SOUTHERN REGION) MINISTRY OF CORPORATE AFFAIRS CHENNAI IN THE MATTER OF THE COMPANIES ACT 2013 AND SECTION 441 OF CA 2013 IN THE MATTER OF M/s. SRI VAISHANAVI BENEFIT FUND LIMITED 1. 2 3 4 5 6 7. 8. M/S. SRI VAISHANAVI BENEFIT FUND LIMITED Mr. Varadan Kanniappan - Director Mr. Srikar - Director Mr. Viswanathan Balaji - Director Mr. Tamilarasu Mayan(ii - Director Mr. Sukumaran Krishamurthy - Ex Director Mr. Visvanathan - Ex Director Sri. Kumudavalli - Ex Director . . . . Applicants Date of Hearing Present 31.10.2025 Mr. Varadan Kanniappan - Director & Mr. Sukumaran Krishamurthy - Ex-Director. ORDER This is an application filed under Section 441 of the Companies Act, 2013 by the above applicants for compounding of 6ffence committed under Rule 23 A of Nidhi Rules, 2014 Sl. No. 1. Violation Details/Nature of Violation Rule 23 A of Nidhi Rules, 2014 As per Sec. 406(1) of the Companies Act, 2013, in this section, “Nidhi" or "Mutual Benefit Society" means a company which the Central Government may, by notification in the Official Gazette, declare to be a Nidhi or Mutual Benefit Society, as the case may be. As per Rule 23 A of Nidhi Rules, 2014, "Every company referred to in clause (b) of Rule 2 and every Nidhi incorporated under the Act, before the commencement of Nidhi (Amendment) Rules, 2019 shall also get itself declared as such in accordance with Rule 3A within a period of one year from the date of its incorporation or within a period of nine months from the date

Amendment) Rules, 2019 shall also get itself declared as such in accordance with Rule 3A within a period of one year from the date of its incorporation or within a period of nine months from the date of commencement of Nidhi (Amendment) Rules, 2019, whichever is later" Provided that if a company does not comply with the requirements of this rule, it shall not be allowed to file Form No.SH-7 (Notice to Registrar of any alteration of share capital) and Form PAS-3 (Return of Allotment). The Ministry, while processing the NDF+4 filed by the company observed Brat the company has failed to file NDtl-4 within the timeline prescribed, thereby violated Rule 23 A of Nidhi Rules, 2014.

The Registrar of Companies, Chennai, vide letter dated 21.08.2025 had reported that the company had filed Form GNL-1 vide SRN: F97490197 Dated 17.08.2024. ROC further reported that ths is the first offence and that no prosecution is filed for the above said offence. Also, ROC has conveyed no objection for compounding the violation. 3. The applicants in the application submitted for compounding the said offence, by admitting the same, stated that the offence committed was not willful or deliberate and prayed to compound the offence. 4. At the hearing held on 31.10.2025, the Authorized Representatives of the Applicants had reiterated the submissions made in the application and pleaded to take a lenient view 5.

mpound the offence. 4. At the hearing held on 31.10.2025, the Authorized Representatives of the Applicants had reiterated the submissions made in the application and pleaded to take a lenient view 5. That taking into consideration the submissions made, facts of the case and the report of Registrar of Companies, Chennai dated 21.08.2025, the following compounding fee were directed to be paid as pre-condition for compounding the above-said offence committed by the applicants. SI. No. Applicant Compounding fee payable by applicants (in Rupees) M/ S. SRI VAISHANAVI BENEFIT FUND LIMITED 1 5,000 2,000 2,000 Mr. Varadan Kanniappan - Director 2 Mr. Srikar - Director 3 Mr. Viswanathan Balaji – Director 4 2,000 Mr. Talnilarasu Mayandi - Director 5 2,000 Mr. Sukumaran Krishamurthy - Exm 6 2,000 2,000 2,000 Mr. Visvanathan -. Exmr 7. Sri. Kumudavalli - Ex Director 8 Total 19,000

That pursuant to the directions of the undersigned, the applicants have remitted the compounding fees imposed and submitted Receipts evidencing payment of compounding fees as detailed below: SI. No. Applicant SRN No./Date Amount Paid(Rs.) 5,000 M/S. SRI VAISHANAVI BENEFIT I' I FUND LIMITED D UU1833151/10-01-2026 ;Tm:m t Mmi;Tam Mr. Sukumaran Krishamurt:hy – Ex V + 1 qX• + Director F97490197/10-01-2026 14,000 Mr. Visvanathan - Ex Director 7 Sri. Kumudava11i - Ex Director 8 Total 19,000 Therefore, the offence mentioned above as against the said eight applicants stands compounded and the compounding application is hereby allowed and disposed off . 7.

a11i - Ex Director 8 Total 19,000 Therefore, the offence mentioned above as against the said eight applicants stands compounded and the compounding application is hereby allowed and disposed off . 7. The Company is directed to give intimation to the Registrar of Companies concerned within 7 days from the date on which the offence is so compounded in compliance of Sub-Section (3)(b) of Section 441 of the Companies Act, 2013 and the company shdl also file this order as per the provisions of Section 441(4) read with Section 403 of the Companies Act, 2013 in e-form No. 1NC-28 within 30 days from the date of receipt of this order. Dated at Chennai this the 20th day of March 2026. JAY REGI£5NAL DIRECTOR

To

1. M/S. SRI VAISHANAVI BENEFIT FUND LIMITED
2. NORTH PARK STREET, I FLOOR, VENKATAPURAM, AMBATTUR, MS-53, Tamil Nadu - 600053.
3. Mr. Varadan Kanniappan - Director No.13/1, N3, FIat 1, Fl, Bhackyamanere, Ganapathy Street, Venkatapuram, Ambattur, Chennai - 600053.
4. Mr. Tamilarasu Mayandi - Director No.6, Sarangapani Street, Krishnapuram, Ambattur - 600053.
5. Mr. Sukumaran Krishamurthy - Ex Director 14, Kamalapuram Colony, Ambattur, Chennai - 600053.

Mr. Visvanathan - Ex Director 64/1, Venkatapuram, Oragadam Road, Ambattur, Chennai - 600053. 6. Mr. Srikar - Director 14, Kamalapuram Colony, Ambattur, Chennai - 600053. 7. Mr. Viswanathan Balaji - Director Hl-4 Ajab Apartments, Shanthi Colony, Jeevarathinam Naga& Adayar, Chennai - 600020. 8. Sri. Kumudava11i - Ex Director 64/1, Venkatapuram, Oragadam Road, Ambattur, Chennai - 600053. 9. The Registrar of Companies, Chennai.