Fusion Finance Receives Order for ₹3 Lakh Penalty from ROC Delhi
Fusion Finance Limited received an order from ROC Delhi imposing a penalty of ₹3 Lakhs for non-compliance with Section 152(6) of the Companies Act, 2013, during July 20, 2021, to July 08, 2023. An additional ₹1 Lakh penalty was imposed on the erstwhile MD. The company has been compliant since July 08, 2023.
The penalty amount of ₹3 Lakhs is insignificant relative to the company's overall financial standing, and the issue is historical and has been resolved.
The company has received a penalty order from the ROC, which is a negative development, although the amount is relatively small and the issue is historical.
Fusion Finance Limited (FFL) has received an order dated March 16, 2026, from the Registrar of Companies (ROC), Delhi, pertaining to the adjudication of penalties for non-compliance with Section 152(6) of the Companies Act, 2013. The non-compliance occurred during the period from July 20, 2021, to July 08, 2023, wherein the company was required to have three Non-Independent Directors liable to retire by rotation, but only one was designated as such.
The company has been assessed a penalty of ₹3,00,000 (Rupees Three Lacs Only). Additionally, a penalty of ₹1,00,000 (Rupees One Lac Only) has been imposed on Mr. Devesh Sachdev, the erstwhile Managing Director, as the officer in default during the specified period. The company states that it has been fully compliant with the provisions of Section 152(6) of the Companies Act, 2013, with effect from July 08, 2023.
FFL has emphasized its strong commitment to statutory compliance and good governance, assuring that all necessary steps are being taken to ensure continued and enhanced compliance with all applicable laws and regulations. The company had suo-moto filed an application for adjudication of these penalties, and with the receipt of this order, the matter has now been concluded through the adjudication process.
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Fusion Finance Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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