NCLT disposes compounding application by Wadhwagroup Holdings for non-appointment of company secretary from 2005-2018.
Tribunal imposes reduced penalty of ₹5 lakh each on company and five directors, totaling ₹30 lakh.
Company had paid-up capital exceeding ₹512 crore but failed to maintain continuous CS appointment as required.
NCLT notes default was non-intentional and company has since appointed full-time company secretary.