The Registrar of Companies (ROC), Chennai, has levied penalties on former officers of Mascon Global Limited for failing to appoint a mandatory woman director on the board of the company as mandated under the Companies Act, 2013.
As per the adjudication order dated May 15, 2026, the listed company was not able to adhere to Section 149(1) and (2) of the Companies Act read with Rule 3 of the Companies (Appointment and Qualification of Directors) Rules, 2014. The law obligates that every listed company and specific public companies that have specified paid-up capital or turnover should appoint at least one woman director on their board.
A woman director must be appointed in the company by April 1, 2015; however, this failed, the ROC stated. Therefore u/s 172 of the Companies Act, adjudication proceedings were initiated.
At the time of proceedings, Ramamurthy Ravikumar said that he had served only as an Additional Director and was never regularised in the Annual General Meeting. He mentioned that he had left office before the default period and hence could not be considered as an officer in default.
The submissions have been considered by the adjudicating authority post acknowledging the earlier observations of the Madras High Court, which cited that Ramamurthy Ravikumar ceased to be an additional director w.e.f October 1, 2012. Therefore, no penalty was levied on him.
Although Rs. 1 lakh each was imposed as a penalty onChandra Krishnamurthy and Hendrikus Adrianus Alfonsus De Waart.
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It was asked by the ROC that noticees pay the penalties within 90 days through the MCA e-Adjudication portal and specified that appeals may be submitted to the Regional Director, Chennai, within 60 days of receipt of the order.
ROC Chennai Order
