ROC Action: Penalty Imposed on Company and Officers for Delayed PAS-6 Filing

The Registrar of Companies (ROC), Chhattisgarh, has imposed a penalty on Hosak Industries and Plastics Ltd., along with its officers in default, for failing to file the ‘Reconciliation of Share Capital Audit Report’ in e-form PAS-6.

The company filed an application to reduce its share capital under Section 66 of the Companies Act, 2013. While reviewing the company, ROC noticed that the company was required to file a Reconciliation of Share Capital Audit Report in e-form PAS-6, required under sub-rule 8 of Rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014, to report the details and changes in share capital on a half-yearly basis for the half-year ending September 30, 2019. But the company failed to file the form PAS-6 within the required time. This is a violation of the rules and attracts penalties under Section 450 of the Companies Act, 2013.

The Registrar had issued show cause notices to the company and its officers through Email and Speed Post. However, the company and its officers in default did not respond to the show-cause notices, and no request for an e-hearing was made. As a result, the Adjudicating Officer decided that an e-hearing was not necessary in this case.

The company and its officers failed to comply with Rule 9A (8) for the half-year ended September 30, 2019. Even after being given notice, no response was received. The records on the MCA portal also show that e-form PAS-6 has not been filed to date. Because of this non-compliance, the company and its officers are liable for penalties under the Companies Act, 2013. Therefore, ROC imposed a penalty on the company and its officers in default as prescribed under Section 450 of the Act.