Legal5 Oct 2026, 01:00 pm
Luxury Time Ltd: Final Compounding Order Received
AI Summary
Luxury Time Ltd has received a Final Compounding Order from the Ministry of Corporate Affairs regarding a default under Section 129 of the Companies Act, 2013. The default pertained to the non-preparation and filing of consolidated financial statements for its Joint Venture for the financial years 2019-20 to 2023-24. The applicant directors, Mr. Ashok Goel and Mr. Pawan Chohan, have paid a compounding fee of ₹1,00,000/- per year of default. No compounding fee is payable by the company. The company will comply with the order's directions, including filing Form INC-28.
Key Highlights
- Final Compounding Order received from Ministry of Corporate Affairs.
- Default related to non-filing of JV consolidated financial statements.
- Directors paid compounding fees; no fee for the company.
- Company to comply with order directions, including form filing.
Price Impact
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