On March 02, 2026, the Registrar of Companies (ROC), Gwalior, issued an adjudication order imposing a penalty of ₹1.76 lakh on Xtranet Technologies Limited and its two directors under Section 454 of the Companies Act, 2013, for non-compliance with Section 137 of the Companies Act, 2013.
The disputed company had voluntarily filed an Application for Adjudication on September 23, 2025, accepting the non-compliance committed by it u/s 137 of the Companies Act, 2013, read with Rule 12 of the Companies (Accounts) Rules, 2014.
With the support of e-Form GNL-1 (SRN: AB7190596), the application was filed. The company considered that it was lawfully needed to prepare Consolidated Financial Statements (CFS) for itself and its subsidiary in the same format as its own financial statements in Form AOC-4 CFS, along with the mentioned fees with the Registrar of Companies (ROC) for the fiscal year 2022-23.
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While filing the same form in response to the question, ‘Are consolidated financial statements required or not?’, the company erroneously selected ‘No’.
Due to the same mistake, the Consolidated Financial Statements were not attached, and Form AOC-4 CFS was not submitted. However, the company mentioned that the mistake was not performed intentionally and was a genuine mistake.
Acknowledging the mistake accepted by the company, the ROC levied a Rs 76,200 penalty on the company Xtranet Technologies Limited, and Rs 1 lakh on its two directors, Jogendrapal Singh Alagh and Sukhbir Singh Kukreja (Rs 50,000 on each director). A 90-day time duration has been given to the company to correct the default and pay the charged penalty amount.
ROC Gwalior
