According to the Company laws, a company after its incorporation and within 30 days and at all times should have a registered office where all communication and notice may be addressed. In case there is any default made in compliance with the registered office, then the company and its officer who are in default shall be liable to a penalty of Rs. 1000/- for each day till the default continues but not exceeding Rs. 1 Lakh.
In one of these matters, the MCA appointed an adjusting officer in the exercise of the powers conferred as per the Companies Act for adjusting penalties where Pisces Exim (India) Private Limited has not maintained a registered office from 18th May 2018 to till date.
The Total number of days of default is 1300 and the penalty imposed on Company is Rs. 1,00,000/- and on both the directors is also Rs. 1,00,000/- each.
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