RoC Slaps Rs 42 Lakh Fine On United Technologies For Failing To Appoint CS Within Timeframe

The United Technologies Corporation (India) Pvt. Ltd. and its key personnel have been fined approximately Rs. 42 lakh by the Registrar of Companies (RoC) for Delhi and Haryana for violating the Companies Act, 2013 by failing to appoint a Company Secretary (CS) within the allotted time.

The Ministry of Corporate Affairs (MCA) ordered the business and its nine Directors to pay the penalty within 90 days on January 27. The corporation is required to pay Rs. 5 lakh of the total, while individual Directors have to pay Rs. 36.89 lakh out of their own pockets.

With its paid-up capital exceeding Rs. 10 crore from July 28, 2022, the company was ineligible for an exemption but delayed the CS appointment until October 30, 2023, leading to 458 days of non-compliance under Section 203. Despite seeking leniency, the RoC upheld the fixed penalty.

Regulators have recently penalised other firms for similar lapses, including Wistron Infocomm Manufacturing India and Zerodha Asset Management.