RoC fines V-Guard MD over appointment, retirement related rules violation

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The story "RoC fines V-Guard MD over appointment, retirement related rules violation" was covered 6 days ago by Business Standard, a news publisher based in India.

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RoC fines V-Guard MD over appointment, retirement related rules violation - Business Standard

Quick Summary:

The Managing Director of V-Guard Industries, a manufacturer of electrical and home appliances, has been fined by the Registrar of Companies (RoC) over violation of rules and regulations related to retirement and appointment of directors on the board.

The RoC Ernakulam has imposed a penalty of Rs 2.03 lakh on V-Guard Industries Managing Director M K Chittilappilly for violation of Section 152(6) of the Companies Act over an application filed by the company suo moto.

"The Managing Director has received an Adjudication order from RoC, Kerala imposing penalty under Section 159 of the Act for default under Section 152(6) of the Act," the company said in a regulatory filing.