ROC Imposes ₹6.06 Lakh Penalty for Non-Filing of Annual Return (MGT-7) | Section 92(5)

ROC Chhattisgarh has imposed a penalty of ₹6.06 lakh on VSG Power and Ispat Private Limited and its directors under Section 92(5) of the Companies Act, 2013 for failure to file the Annual Return (Form MGT-7) for FY 2023–24 within the prescribed time.

In this video, we explain the complete adjudication order issued under Section 454, the grounds of default, the penalty computation, and the compliance lessons for all companies and directors. Learn how ROC exercises its powers under Section 92(5), what counts as a continuing default, and why citing MCA V3 portal issues is not accepted as a valid excuse.

This case is a wake-up call for all professionals, company secretaries, and directors to ensure timely filing of annual returns to avoid heavy penalties and prosecution risks.

📘 Topics Covered:

Overview of Section 92(4) & 92(5) of Companies Act, 2013

ROC Chhattisgarh Adjudication Order (VSG Power & Ispat Pvt. Ltd.)

Penalty structure and calculation explained

Procedure under Section 454 (Adjudication of Penalties)

Lessons and compliance takeaways for companies and directors
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