eForm PAS-6
: New eForm at MCA New compliance by companies
References/
Applicable Provisions:
1) The Companies (Prospectus and
Allotment of Securities) Third amendment Rules, 2018 dated 10th
September 2018
2) The Companies (Prospectus and
Allotment of Securities) Amendment Rules, 2019 dated 22nd January
2019
3) The Companies (Prospectus and Allotment of Securities) Third Amendment Rules,
2019 dated 22.05.2019 dated 30th September 2019
4) MCA Circular No. 16/2019 dated 28th
November, 2019
5) Sub Rule (8) of Rule 9A of Companies (Prospectus and Allotment of
Securities) Rules, 2014
What is PAS-6?
6) eForm PAS-6 is an e-form under the
Companies Act, 2013 which is filed to the Registrar of Companies (ROC) under
whose jurisdiction the registered office of the company is situated.
7) This form is filed on half-yearly
basis i.e. twice a year.
8) This form is needed to be signed by
either a CA or CS in practice in addition to the Director of the company
9) The purpose of this form is to file an
audit report with respect to the reconciliation of the share capital of a
company.
WHAT WAS THE NEED TO
INTRODUCE eForm PAS-6?
10)
There
were some unlisted public companies engaged in the malpractice of filing back
dates forms to the concerned ROC. And it was necessary to bring a full stop to
such practices and a need to introduce a form which re concile the information
relating to share capital every half yearly. The stakeholders are now able to
get the correct and true information on securities allotted by a company especially
securities which are in demat form during a Financial Year
11)
Moreover,
certification of this e-form by professionals like CA or CS makes the
information contained in it more reliable for all the stakeholders.
What details are to
be filled in PAS-6 ?
12)
Basic
details of the company
13)
Issued
capital of the company
14)
Number
of shares held in dematerialized form
15)
Reasons
for difference, if any, between the issued capital and the shares held in
dematerialized form
16)
Details
of changes in share capital during the half-year under consideration
17)
Details
of shares held by Directors , Promoters and KMP
18)
Whether
the register of members is updated or not
19)
Total
number of demat requests, request pending and confirmed
20)
Details
of the Company Secretary of the company
21)
Details
of CA/CS certifying the form
Which companies are applicable
to file eForm PAS-6 ?
22)
EVERY
UNLISTED PUBLIC COMPANY” is required to file this form along with the
prescribed fees
23)
Following
companies are not required to file eForm PAS 3 even if they are unlisted public
companies:
a.
Nidhi
Company
b.
Government
Company
c.
Wholly
owned subsidiary company
1)
Firstly
it is to be noted that this e-form is filed on half-yearly basis and therefore it is Not an annual compliance.
2) This e-form is required to be filed within 60 days from the end of each half year (30th September/31st March)
What is the Synopsis/ Summary for Rule 9A read with sub-rule 8 and 8A of the Companies (Prospectus and Allotment of Securities) Rules, 2014 ?
This rule states that:
1)
Every
Unlisted Public Company shall-
·
Issue
the securities only in dematerialized form,
·
facilitate
dematerialization of all its existing securities
What is the recent update regarding PAS-6 ?
1)
MCA
vide circular No. 16/2019 dated 28th November, 2019 had stated that
the time limit for filing Form PAS-6 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.
2)
Recently,
on 15th July 2020 the form has been deployed on MCA-21 portal.
3)
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
