ROC Kolkata imposes Rs 20.67 lakh penalty on Regaal Resources for compliance lapses
REGAAL · price
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Regaal Resources received penalties from Registrar of Companies, Kolkata under Section 454 of Companies Act, 2013, for three violations: delay in constituting Audit Committee due to late Independent Director appointment (Rs 5 lakh on company, Rs 4 lakh on officers), delay in constituting NRC Committee for the same reason (Rs 5 lakh on company, Rs 4 lakh on officers), and issue of 4,35,000 shares in physical mode to a promoter with 107-day delay in dematerialisation (Rs 1.17 lakh on company, Rs 1.5 lakh on officers). Total: Rs 11.17 lakh on company, Rs 9.5 lakh on officers. Company had self-filed suo moto applications.
Small financial penalty. Company says no material impact on operations. May raise minor governance concerns among investors.