The ministry of company affairs has slapped a complete penalty of just about Rs 42 lakh on Delhi-based United Technologies Corporation (India) and its key personnel for delay in appointing an organization secretary in contravention of Firms Act provisions.
The Registrar of Companies (RoC) for the nationwide capital area of Delhi and Haryana, beneath the ministry, has requested the corporate and its then 9 administrators to pay the penalty in 90 days, in accordance with its order reviewed by ET.
Because the firm’s paid-up capital had exceeded ₹10 crore, it did not qualify to be a small firm and get a waiver from appointing a full-time firm secretary, the RoC contended.