The Registrar of Companies (ROC) Kolkata has imposed a penalty of ₹20,000 on a company for filing incorrect MGT-7 forms. Marking the forms as defective does not absolve the parties from violations under Rule 8(3).
Penalty for Incorrect Filing of MGT-7
The ROC Kolkata has announced a penalty of ₹20,000 for a company due to the filing of incorrect MGT-7 forms. The ruling emphasizes that simply marking the documentation as defective does not mitigate the breach of compliance under Rule 8(3) of the Companies Act.
The penalty serves as a stern reminder for companies to ensure accurate and compliance-oriented submissions of statutory forms. Incorrect filings can lead to punitive measures, which can have financial implications for businesses.
Legal practitioners must counsel their clients on the importance of compliance and the necessity to review filings meticulously to avoid such penalties in the future.
