BMW Ventures Limited Penalized by ROC for Non-Compliance with Companies Act
BMW Ventures Limited has been penalized by the Registrar of Companies (ROC) for non-compliance with provisions related to the timely appointment of key managerial personnel, specifically the Company Secretary and Chief Financial Officer, under the Companies Act, 2013.The adjudication order was issued following a finding that the company had violated Section 203(5) of the Companies Act, 2013, concerning mandatory operational compliance. While the ROC noted that the penalty itself would have no material impact on the financial or operational activities of the listed entity, a monetary penalty was imposed on the company and several associated officers.
The violation was cited as non-compliance with the provisions relating to the timely appointments of the Company Secretary and Chief Financial Officer.
The penalty levied by the Registrar of Companies, acting under Section 454 of the Companies Act, 2013, was detailed as follows:
| Party Name | Nature of Penalty | Penalty Amount (INR) |
|---|---|---|
| BMW Ventures Limited (The Company) | Non-compliance with Section 203 of Companies Act, 2013 | 10,00,000 |
| BIJAY KUMAR KISHOREPURIA | Non-compliance with Section 203 of Companies Act, 2013 | 138,000 |
| NITIN KISHOREPURIA | Non-compliance with Section 203 of Companies Act, 2013 | 138,000 |
| SABITA DEVI KISHOREPURIA | Non-compliance with Section 203 of Companies Act, 2013 | 138,000 |
| RACHNA KISHOREPURIA | Non-compliance with Section 203 of Companies Act, 2013 | 138,000 |
| NAVNEET RANJAN | Non-compliance with Section 203 of Companies Act, 2013 | 138,000 |
| ANJU SINGHANIA | Non-compliance with Section 203 of Companies Act, 2013 | Applicable |
| RACHITA KEDIA | Non-compliance with Section 203 of Companies Act, 2013 | 138,000 |
The ROC directed the notified officers to rectify the default and pay the applicable penalty amount within 90 days of receiving the order. The company is required to take necessary steps to ensure future compliance with applicable provisions and prevent recurrence of the violation.
BMWVENTLTD Stock Price Movement
On Friday, BMW Ventures Limited shares slipped by 1.47% to settle at ₹60.80. The stock finished the session with a total traded volume of 36,085 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.