Applicability of MCA Form PAS-6 : Reconciliation of Share Capital Audit Report on half yearly basis

Legal Text : Every unlisted public company governed by this rule shall submit Form PAS-6 to the Registrar with such fee as provided in Companies (Registration Offices and Fees) Rules 2014 within sixty days from the conclusion of each half year duly certified by a company secretary in practice or chartered accountant in practice.

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Applicability of MCA Form PAS-6 : Reconciliation of Share Capital Audit Report on half yearly basis

What is requirement of Form PAS-6

MCA Form PAS-6 is required to be filed by every unlisted public companies for Reconciliation of Share Capital Audit Report on half yearly basis.

Relevant Rules for MCA Form PAS-6 : Companies (Prospectus and Allotment of securities) Rules, 2014

Every unlisted public company shall –

(a) Issue the securities only in dematerialised form; and

(b) Facilitate dematerialisation of all its existing securities in accordance with provisions of the Depositories Act, 1996 and regulations

Every unlisted public company making any :

a) offer for issue of any securities or

b) buyback of securities or

c) issue of bonus shares or rights offer shall ensure that before making such offer, entire holding of securities of its promoters, directors, key managerial personnel has been demateriarised in accordance with provisions of the Depositories Act 1996 and regulations made there under.

Every holder of securities of an unlisted public company,

(a) who intends to transfer such securities on or after 2^nd  October, 2018, shall get such securities dematerialised before the transfer; or

(b) who subscribes to any securities of an unlisted public company (whether by way of private placement or bonus shares or rights offer) on or after 2nd October, 2018 shall ensure that all his existing securities are herd in dematerialized form before such subscription.

Every unlisted public company shall facilitate dematerialisation of all its existing securities by making necessary application to a depository as defined in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996 and shall secure International security Identification Number (ISIN) for each type of security and shall in-form all its existing security holders about such facility.

Every unlisted public company shall ensure that:

(a) it makes timely payment of fees (admission as well as annual) to the depository and registrar to an issue and share transfer agent in accordance with the agreement executed between the parties;

(b) it maintains security deposit at all times, of not less than two years, fees with the depository and registrar to an issue and share transfer agent  in such form as may be agreed between the parties; and

(c) it complies with the regulations or directions or guidelines or circulars, if any, issued by the securities and Exchange Board or Depository from time to time with respect to dematerialisation of shares of unlisted public companies and matters incidental or related thereto.

No unlisted public company which has defaulted in sub-rule (5) shall make offer of any securities or buyback its securities or issue any bonus or right shares till the payments to depositories or registrar to an issue and share transfer agent are made.

Addition to the Rule :

Every unlisted public company governed by this rule shall submit Form PAS-6 tothe Registrar with such fee as provided in Companies (Registration Offices and Fees)Rules,2014 within sixty days from the conclusion.of each half year duly certified by acompany secretary in practice or chartered accountant in practice.

The company shall immediately bring to the notice of the depositories anydifference observed in its issued capital and the capital held in dematerialised form.

What are key details required for Form PAS-6

1. Corporate identity number (CI.N) of company:

2. (a) Name of the Company :

(b) Address ^.of the registered office:

(c) E-mail id, if any:

(d) Phone Number:

3. ISIN:

4. Period of filing: From:

5. Details of the capital of the company:

6. Reasons for difference in 5(a) and 5(e)7

7. Details of changes in share capital during the half-year under consideration as per Table below:

8. Details of shares held by:-

9. (a) Whether the Register of Members is updated (Yes / No ):

(b) If not, the date upto which it has been updated:

10. Whether there were dematerialised shares in excess in the previous half-yearly period (Yes/No ):

11. Has the company resolved the matter mentioned in point no. 10 above in the Current half-year If not, reason why

12. Mention the total no. of demat requests, if any, confirmed after 21 days and the total no. of demat requests pending beyond 21 days with the reasons for delay:

13. Name, Address, E-mail and Telephone No. of the Company Secretary of the Company, if any :

14. Name, Address, E-mail, Telephone No. and Registration. no. of the CA/CS certifying this form:

15. Whether there is appointment of common agency for share registry work :

If yes (Name & Address):

16. Any other detail that the professional signing this form may like to provide