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TMI Blog2021 (2) TMI 1311X X X X Extracts X X X X X X X X Extracts X X X X ..... es (Adjudication of Penalties) Rules, 2014 for adjudging penalties under the provisions of this Act. The undersigned vide Companies (Amendment) Ordinance, 2019 is entrusted to adjudicate penalties under section 203 of the Companies Act, 2013 with effect from 02.11.2018. 2. Company: Beam Global Spirits & Wine (India) Private Limited (herein after known as 'company') is a registered company with this office under the provisions of section 7 of the Companies Act, 2013 having its registered office as per MCA 21 Registry at address Second Floor, 70/A-18, Rama Road Industrial Area, Moti Nagar, New Delhi-110015. 3. Facts about the Case: a) In terms of the provisions of section 203(4) of the Act, if the office of any Whole-Time Key Manageri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tual hearing on behalf of the applicant(s) on 04.02.2021 & 05.02.2021 and submitted that the company has appointed Whole-Time Company Secretary on 27.11.2019 thereby complied with the relevant provisions of the Act. He further contented that the penalties may be condoned. She also submitted, in writing, that the company and its directors in default shall also filed compounding application under section 441 of the Companies Act, 2013 for past violation of section 203 of the Companies Act, 2013. 4. Provisions of the Companies Act, 2013 provides: Section 203(1) of the Act provides that every company belonging to such class or classes of companies as may be prescribed shall have the following whole-time key managerial personnel,- (i) managi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s for each day after the first during which such default continues but not exceeding five lakh rupees. 5. ORDER: a. The company and its officers, who have defaulted the provisions of section 203(1) r/w 203(4) of the Act for non- appointment of Whole-Time Company Secretary are liable for penalties under section 203(5) of the Act w.e.f. 28th August, 2019 to 26th November, 2019. b. In exercise of the powers conferred on me vide Notification dated 24th March, 2015 and having considered the facts and circumstances of the case besides oral submissions made by the representative of Noticee(s) at the time of virtual hearing and after taking into account the factors mentioned herein above, I do hereby impose the penalty on the company and its o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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