United Technologies Corp India fined Rs 42 lakh for violation of Company Act

The ministry of corporate affairs has slapped a total penalty of almost Rs 42 lakh on Delhi-based United Technologies Corporation (India) and its key personnel for delay in appointing a company secretary in contravention of Companies Act provisions.

The Registrar of Companies (RoC) for the national capital region of Delhi and Haryana, under the ministry, has asked the company and its then nine directors to pay the penalty in 90 days, according to its order reviewed by ET.

Since the company's paid-up capital had exceeded ₹10 crore, it didn't qualify to be a small company and get a waiver from appointing a full-time company secretary, the RoC contended.