ROC Kolkata order: Rs. 11,17,000 penalty on the company, Rs. 9,50,000 on officers in default
Regaal Resources received order(s) dated October 05, 2026 from the Registrar of Companies, Kolkata in its suo moto applications for adjudication of penalties under Section 454 of the Companies Act, 2013.
Order from the Registrar of Companies, Kolkata
The company has received order(s) dated October 05, 2026 passed by the Registrar of Companies, Kolkata, in the suo moto applications the company had shared for adjudication of penalties under Section 454 of the Companies Act, 2013. The company states the disclosure is being made as a matter of abundant caution and transparency.
What the order relates to
- The Audit Committee had to be constituted on or before 29.06.2022. It was constituted by the Board of Directors on 23.05.2023, so the non-compliance existed from 30.06.2022 to 22.05.2023.
- The Nomination and Remuneration Committee had to be constituted on or before 29.06.2022. It was constituted by the Board on 17.07.2023, so the non-compliance existed from 30.06.2022 to 16.07.2023.
- 4,35,000 equity shares were allotted on 07.06.2022 to one of the promoters in physical mode, and the return of allotment was shared on 07.06.2022. After the ISIN was obtained, the shares were credited to the promoter in demat form on 22.09.2022, a delay of 107 days.
Penalties imposed
- For the delay in constituting the Audit Committee: 5,00,000 on the Company.
- For the delay in constituting the Nomination and Remuneration Committee: 5,00,000 on the Company.
- For the physical-mode allotment and the delayed dematerialisation: 1,17,000 on the Company.
- In all, penalties aggregating to Rs. 11,17,000/- have been imposed on the Company and Rs. 9,50,000/- on the officers in default.
What the company says about impact
The company states that there is no material impact on financial operations or other activities of the Company on account of these orders.
How a reader can look at this
The penalties arise from defaults in the constitution of board committees and in the mode of a promoter allotment, which the company itself placed before the adjudicating authority through suo moto applications and which relate to periods in 2022 and 2023. The company has quantified the amounts on the Company and on the officers in default and given its view on the impact.
Also from Regaal Resources
Turbine repair completed and operations restored at 825 TPD plant; repair cost INR 90 lakhs
6 Oct 2026
Turbine repair timeline at Kishanganj plant extended by about 5 days
1 Oct 2026
More numbers
- Penalty on the Company – delay in constituting Audit Committee5,00,000
- Penalty on the Company – delay in constituting NRC5,00,000
- Penalty on the Company – physical-mode allotment and demat delay1,17,000
- Aggregate penalty on the CompanyRs. 11,17,000/-
- Aggregate penalty on officers in defaultRs. 9,50,000/-
- Equity shares allotted in physical mode to a promoter4,35,000 Equity Shares
- Delay in crediting those shares in demat form107 days
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