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SML Isuzu Faces Penalty of Rs. 2.0 Lacs from Registrar of Companies, Punjab and Chandigarh

SML Isuzu Limited has received an order from the Office of the Registrar of Companies, Punjab and Chandigarh, imposing a penalty of Rs. 2.0 lacs on the company and Rs. 0.5 lacs each on three officers-in-default. This is in relation to the violation of Section 196 read with Schedule V of the Companies Act, 2013 read with Companies (Adjudication of Penalties) Rules, 2014 in respect of the appointment of a Wholetime Director. The company will file an appeal against this order with the concerned authorities.

• SML Isuzu Limited has been imposed a penalty of Rs. 2.0 lacs by the Office of the Registrar of Companies, Punjab and Chandigarh.
• Three officers-in-default of the company have been penalized with Rs. 0.5 lacs each.
• The penalty is imposed for the violation of Section 196 read with Schedule V of the Companies Act, 2013 read with Companies (Adjudication of Penalties) Rules, 2014.
• The violation is in respect of the appointment of a Wholetime Director.
• The company will file an appeal against this order with the concerned authorities.