Article explains  Purpose of Form PAS-6 (Reconciliation of Share Capital Audit Report), Statutory Provision related to Form PAS-6, Applicability (Rules) related to Form PAS-6, Non Applicability of Rule 9A, Date of Deployment of Form PAS-6, Last Date of filling of Form PAS-6, Key details required for Form PAS-6 and Fees for the Form PAS-6.

1. Purpose of Form PAS – 6 (Reconciliation of Share Capital Audit Report)

Reconciliation of Share Capital Audit Report on half yearly basis2.

2. Statutory Provision related to Form PAS-6

Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014 as amended vide Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2019 dated 22/May/2019 effective from 30th September 2019.

As Per sub rule 8 of Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014, every unlisted public company shall submit Form PAS-6 (Reconciliation of Share Capital Audit Report) to the Registrar within sixty days from the conclusion of each half year* duly certified by a company secretary in practice or chartered accountant in practice.

* Refer Circular No. 16/2019 dated 28th November regarding the Due Date (See Note No. 5 below)

3. Applicability (Rules) related to Form PAS-6

Every Unlisted Public Company shall-

–  Issue the securities only in demat form, and

–  Convert it’s all existing physical securities into demat according to the provision of Depositories Act,1996 and Regulations made thereunder

– demat of all its existing securities by making the necessary application to a depository and

– shall secure ISIN for each type of securities and

–  shall inform all its existing security holders about such facility

Every Unlisted Public Company before making:

–  Issue of Securities

–   Buy-back of Securities

– Bonus Issue

– Rights Issue

Has to convert entire securities of its promotors, Directors, KMP into Dematerialised form.

Every holder of Securities of Unlisted Company:

– who wants to transfer such securities on or after 2nd October, 2018

– who wants to subscribe to any securities of an unlisted public company on or after 2nd October 2018

shall ensure that all his existing securities are held in the dematerialized form before such a subscription.

3. Non Applicability of Rule 9A

The above Rule, Rule 9A of Companies (Prospectus and allotment of Securities) Rules, 2014 not applicable to the following unlisted public companies:

(a)  Nidhi Company

(b)  Government Company

(c)  Wholly owned subsidiary

4. Date of Deployment of Form PAS–6

Form PAS – 6 has been deployed on MCA portal on 15th July, 2020.

5. Last Date of filling of Form PAS–6

MCA vide Circular No. 16/2019 dated 28th November, 2019 had stated that the time limit for filing Form PAS-6 (Half-yearly Reconciliation of Share Capital Audit Report) without additional fees for the half-year ended on 30th September, 2019 will be 60 days from the date of deployment of this form on MCA-21 portal.

Accordingly, the last date for filing the Form PAS-6 for the half-year ended on 30th September, 2019 and 31st March, 2020 will be 13th September, 2020.

6. Key details required for Form PAS-6

(a)  Corporate Identity Number (CIN) of Company

(b)  Name of Company, Address of Registered office, Email ID, Phone

(c)  ISIN for each Securities.

(d)  Period for which return is filing.

(e)  Details of the Share capital of the Company:

S.No
Particulars Number of Shares Percentage of Total Issued Capital
a Issued Capital
b Held in dematerialised form in CDSL
c Held in dematerialised form in NSDL
d Held in physical form
e Total No. of Shares (b)+ (c)+(d)

(f)   Details of Changes in Share Capital during the half year under consideration due to any: –

PARTICULARS NO. OF SHARES WHETHER INTIMATED TO NSDL WHETHER INTIMATED TO CDSL
Rights
Bonus
Private Placement
ESOPs
Amalgamation Conversion
Buy back
Capital Reduction
Forfeiture
Any other (Please  Specify)

(g)  Details or shares held by Promoters, Directors and KMP.

(h)  Particulars about register of members, whether updated or not.

(i) Particulars of total no. of DEMAT request, if any, confirmed after 21 days and the total no. of DEMAT requests pending beyond 21 days with the reasons for delay:.

(j) Particulars of Company Secretary of the Company, if any.

(k) Particulars of the Practicing Professional who is certifying the form.

(l) Whether there is appointment of common agency for share registry work.

Note- All information shall require to be furnished for the half year ended 30th September and 31st March in every financial year for each ISIN separately

7. Fees for the Form PAS-6

Refer The Companies (The Registration of offices and Fees) Rules, 2014

Author Bio

Qualification: CA in Practice
Company: Khemka A and Company
Location: New Delhi, New Delhi, IN
Member Since: 25 Apr 2020 | Total Posts: 3

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