Tax & Penalty23 May 2026, 01:31 pm
BMW Ventures Faces ₹10 Lakh Penalty for Compliance Lapses
AI Summary
BMW Ventures Ltd has been penalized ₹10,00,000 by the Registrar of Companies for non-compliance with Section 203 of the Companies Act, 2013, regarding the timely appointment of a Company Secretary and Chief Financial Officer. The company is taking corrective steps to ensure compliance and prevent future occurrences. The penalty was imposed under Section 454 of the Companies Act, 2013, following an adjudication order received on May 22, 2026.
Key Highlights
- BMW Ventures penalized ₹10,00,000 by the Registrar of Companies.
- Penalty imposed for violating Section 203 of Companies Act, 2013.
- Violation relates to the timely appointment of key managerial personnel.
- Company is taking corrective actions to comply with regulations.
- The penalty does not have a material impact on operational activities.
Price Impact
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