The ROC imposed a penalty of ₹3.50 lakh on a company for failing to timely file CSR-2, emphasizing compliance with statutory deadlines under the Companies Act.
ROC Kolkata Penalizes ₹3.50 Lakh for Delay in CSR Filing
The Registrar of Companies (ROC) in Kolkata has imposed a penalty of ₹3.50 lakh on a company and its directors for the delayed filing of Form CSR-2 for the financial year 2021-22. This action underscores the importance of timely compliance with statutory obligations as mandated by the Companies Act.
The penalty was levied following an investigation that confirmed the failure to submit the required form by the stipulated deadline under Rule 12(1B) and Section 450 of the Companies Act. This development reiterates the ROC's commitment to enforcing compliance among corporations regarding their Corporate Social Responsibility (CSR) activities.
Upon imposing the penalty, the ROC highlighted the need for accountability and adherence to procedures designed to ensure that companies fulfill their CSR commitments. It is essential for companies to recognize that non-compliance can lead to significant financial penalties and potential reputational damage.
Practitioners are advised to proactively counsel their corporate clients on the need for strict adherence to filing deadlines. The emphasis should be placed on implementing robust compliance frameworks to avoid such costly penalties.
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