Initially, reconciliation of Share Capital Audit Report was applicable only for Listed Companies and was required to be filed with Stock Exchanges on a quarterly basis as per SEBI (Depositories and Participants) Regulations.
Now, Central Government (Ministry of Corporate Affairs) has introduced a similar concept under the Companies Act, 2013 for unlisted public companies. Form PAS-6 was introduced vide Companies (Prospectus and Allotment of Securities)Third Amendment Rules, 2019 published on 22nd May, 2019 which was effective from 30th September, 2019. However, e-form PAS-6 was deployed on the MCA portal only on 15th July, 2020.
♦ Legal Provisions
S.29 (1A) of the Companies Act 2013 and Rule 9A (8) of the Companies (Prospectus and Allotment of Securities) Rules, 2014.
Form PAS-6 is a half yearly audit report on reconciliation of share capital which is to be certified by a Company Secretary in practice or a Chartered Accountant in practice.
♦ Due Date:
♦ Applicability of Form PAS-6:
Applicable to every Unlisted Public Company (except Nidhi Company; Government company or wholly owned subsidiary)
♦ Key Details to be inserted within the Form PAS-6: