The Ministry of Corporate Affairs (MCA) vide its notification dated 10th Sep, 2018 issued the Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018 which came into force w.e.f. 2nd Oct, 2018.
As per rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014 every unlisted public company is required to:
Obligation of company
If there is default in making payment/ maintaining deposit as mentioned above, the company cannot make any issue or buyback of securities.
Audit report in Form PAS 6 (Reconciliation of Share Capital Audit Report):
Every unlisted public company is required to submit Form PAS 6 within 60 days from the conclusion of each half year duly certified by a company secretary in practice or chartered accountant in practice.
The form became available for filing on 15th Jul, 2020. Accordingly, the last date for filing the form for half year ended 30th Sep, 2019 and 31st Mar, 2020 would be 13th Sep, 2020. [Ref: MCA Circular dated 28.11.2019]
Obligation of holder of securities:
Every holder of security shall ensure that all his existing securities are held in dematerialised form otherwise he cannot transfer his securities or subscribe for any new securities in the company.
The aforesaid provisions are not applicable to a Nidhi Co/ Government Co/ Wholly owned subsidiary.