ROC Gwalior imposes ₹15.64 lakh penalty on EKI Energy Services
EKI Energy Services received four adjudication orders from the Registrar of Companies, Gwalior, imposing penalties totalling ₹15.64 lakh on the company and ₹2.47 lakh on its officer in default, Mr. Manish Kumar Dabkara. The penalties address non-compliance with the Companies Act, 2013, including failures in the Board's Report, IEPF filings, and the appointment of a Whole-time Director. The company stated the financial impact is not material and is considering legal options.
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EKI Energy Services received four adjudication orders dated June 29, 2026 from the Registrar of Companies (ROC) Gwalior, imposing monetary penalties totalling ₹15.64 lakh on the company and its officer in default for alleged non-compliance with the Companies Act, 2013. The penalties address lapses in corporate disclosures, including the omission of auditor qualifications in the Board's Report and delays in filing Investor Education and Protection Fund (IEPF) forms. The company stated that these orders have no material impact on its financial, operational, or other activities and is evaluating the cost effectiveness of pursuing legal remedies.
The orders were issued under Section 454 of the Companies Act, 2013. The first order, No. PO/ADJ/06-2026/GL/02447, penalised the company ₹3,00,000 and officer in default Mr. Manish Kumar Dabkara ₹50,000. The ROC observed that the Board's Report for FY 2022-23 failed to include explanations or comments on the qualifications, reservations, and emphasis of matter made by the Statutory Auditors as required under Section 134(3)(f).
A second order, No. PO/ADJ/06-2026/GL/02448, imposed a penalty of ₹3,00,000 on the company and ₹50,000 on Mr. Dabkara. This order cited the absence of explanations or comments in the Board's Report regarding remarks contained in the Secretarial Audit Report, specifically relating to a delay in filing e-Form IEPF-2. The violation pertains to Section 134(3)(f)(ii) read with Section 134(8) of the Companies Act.
The third order, No. PO/ADJ/06-2026/GL/02449, levied the highest penalty of ₹4,64,500 on the company and ₹97,900 on Mr. Dabkara. The ROC found that prescribed details required under Rule 5(8) of the IEPF Authority Rules were not attached with e-Form IEPF-2 for the relevant financial years. This non-compliance was under Section 125(2)(c) read with Rule 5(8) of the IEPF Authority Rules, attracting a penalty under Section 124(7) of the Companies Act, 2013.
The fourth order, No. PO/ADJ/06-2026/GL/02450, imposed a penalty of ₹5,00,000 on the company and ₹50,000 on Mr. Dabkara. The ROC observed that the same individual was appointed as Whole-time Director while continuing as Chief Financial Officer without appointing a separate Chief Financial Officer, constituting a violation of Section 203(1) punishable under Section 203(5) of the Companies Act, 2013.
Breakdown of Penalties
| Order No. | Section Violated | Company Penalty (₹) | Officer Penalty (₹) |
|---|---|---|---|
| PO/ADJ/06-2026/GL/02447 | Section 134(3)(f) | 3,00,000 | 50,000 |
| PO/ADJ/06-2026/GL/02448 | Section 134(3)(f)(ii) | 3,00,000 | 50,000 |
| PO/ADJ/06-2026/GL/02449 | Section 125(2)(c) | 4,64,500 | 97,900 |
| PO/ADJ/06-2026/GL/02450 | Section 203(1) | 5,00,000 | 50,000 |
| Total | 15,64,500 | 2,47,900 |
Historical Stock Returns for EKI Energy Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.46% | +2.04% | -5.29% | -14.81% | -33.34% | -61.56% |
Will EKI Energy Services proceed with an appeal against the ROC orders, and how might this affect their legal costs?
Does the violation regarding the dual role of Whole-time Director and CFO necessitate an immediate restructuring of the company's leadership?
How might these repeated non-compliance issues influence investor confidence and the company's corporate governance ratings?
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