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TMI BlogPenalty on Directors of CompaniesX X X X Extracts X X X X X X X X Extracts X X X X ..... Penalty on Directors of Companies - News and Press Release Dated:- 24-7-2015 - News - Information pertaining to imprisonment/penalization of directors of companies having turnover of more than ₹ 50 crore annually, in the year 2014-15 is as under: S. No. Name of Company Name of the Directors Section of Companies Act, 1956 violated Penalty levied Status of the case 1. M/s XRBIA DEVELOPERS LIMITED Dilip Ramkrishna Khapre, Manoj Kumar Murlidhar Kamble 159, 220(3) Total ₹ 3000/- fine (Rs.500/- fine imposed on each director apart from fine on the comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any in two cases) Action Completed 2 M/s BORACHEM INDUSTRIES LIMITED Suresh Kanayalal Raka, Ashok Namdevrao Rukari, Omprakash Pattnayak 159, 220(3) Total ₹ 4000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) Action Completed 3 M/s LI TAKA PHARMACEUTICALS LIMITED Pravin Kumar Kantilal Mutha, Suresh Kanayalal Raka, Cajetan Valerian Dsouza, Omprakash attanayak 159, 220(3) Total ₹ 5000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Action Completed 4 M/s SIDHANATH SUGAR MILLS LIMITED Dilip Bramhadeo Mane 220(3) Total ₹ 1000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in this case) Action Completed 5 M/s PEGASUS HEALTHCARE LIMITED Rajendra Chhotubahi Kapadia, Suresh Kanayalal Raka, Cajetan Valerian Dsouza 159, 220(3) Total ₹ 4000/- fine (Rs.500/- fine imposed on each director apart from fine on the company in two cases) Action Completed 6 M/s ATIBAR INDUSTRIES COMPANY LTD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri Samir Kumar Sarawgi, Managing Director, Shri Bibhu Prasad Bhoi, company secretary 220 Total ₹ 4500/- fine (Rs1500/- fine imposed on each Managing Director and Company Secretary apart from fine on the company) Action Completed 7 M/s SCL STEEL CORPORATION LIMITED Avijit Chakraborty, Manas Kumar Dan, Prasanta Chatterjee, Joy deb Biswas 56(3), 60B/629A, 67 (1) (2) /629A and 68 Total ₹ 1,95,000/- fine (Rs.39,000 fine imposed on each Director apart from fine on the Company) Action Completed 8 M/s MAN STRUCTURALS P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RIVATE LIMITED Kishore P. Rungta, Managing Director 58A (1) 58A(2) read with 58A(6) Fine of ₹ 1,89,31,294/-, ₹ 76,74,525/-, ₹ 12,59,131/- for the years 1996-97, 1997-98, 1998-99 respectively imposed on the company. Further, the Managing Director of the company was convicted for a period of two year simple imprisonment and a fine of ₹ 5000/- was imposed on him The Company and Managing Director have filed an appeal before the Appellate Court which is pending. 9 LAKHANI INDIA LIMITED Amarjeet Kalra Whole Time Director, Arun Virmani, Company Secretary 159/220 Total ₹ 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0000/- fine (Rs.10000 each on whole time Director and Secretary) Case in respect of one of the directors, Shri Parmeshwar Dyal Lakhani, has been consigned to record by the Court as the Court has declared him a Proclaimed Offender. 10 SATYAM COMPUTER SERVICES LTD. Ramalinga Raju, B. Ramaraju, V. Srinivas 309(1) 628 Fine of ₹ 5 lakh each and in default of paying fine, simple imprisonment of 6 months each All the four directors convicted have gone in appeal. Ramalinga Raju, B. Ramaraju, Srinivas, Mynampati 211(7) 628 Simple I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mprisonment of 6 months for each accused and Fine of ₹ 10,000, and in default of paying fine, simple imprisonment of 1 month each Ramalinga Raju, B. Ramaraju, Srinivas, Mynampati 211 628 Simple Imprisonment of 6 months for each accused and Fine of ₹ 10,000, and in default of paying fine, simple imprisonment of 1 month each Ramalinga Raju, B. Ramaraju, Mynampati 217 (2a) 628 Simple Imprisonment of 6 months for each accused and Fine of ₹ 20,000/- and in default of paying fine, simple imprisonment of 1 month each Rama ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... linga Raju, B. Ramaraju, Srinivas 211 (1) (2) 628 Simple Imprisonment of 6 months for each accused and Fine of ₹ 10,000/- and in default of paying fine, simple imprisonment of 1 month each. Ramalinga Raju, B. Ramaraju, Mynampati 220 (1) 628 Fine of ₹ 5 lakh and in default of paying fine, simple imprisonment of 6 month each. 11. JVG GROUP COMPANIES The matter is still pending against Mrs. Namrata Krishan, Director who has been declared as Proclaimed offender by the court. Another Director Sh. D K Agg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arwal is no more. Proceedings against another Director Sh. Vijay Kumar Sharma have been dropped. JVG HOLDINGS Upender Singh 159 r/w 220 Fine of ₹ 10, 000 S.L. Maloo 217 (5) Fine of ₹ 10, 000 JVG HOTELS S.L. Maloo 217 (5) Fine of ₹ 10, 000 JVG STEEL S.L. Maloo 215 Fine of ₹ 10, 000 JVG HOUSING FINANCE S.L. Maloo 159/220 (1) Fine of ₹ 10, 000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for non-filing of balance sheet as at 31.3.2007 S.L. Maloo 159/220 (1) Fine of ₹ 10, 000 for non-filing of balance sheet as at 31.3.2006. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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