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E-Form PAS-6

Form PAS-6 is a ‘Reconciliation of Share Capital Audit Report’ which is to be submitted by the unlisted public company on a half-yearly basis. The provisions relating to filing of Form PAS-6 is covered in rule 9A (8) of the Companies (Prospectus and Allotment of Securities) Rules, 2014.

Noticeably, Form PAS-6 shall now be available for filing as e-Form from 15^th July 2020. The present article decodes the various provisions and aspects of Form PAS-6.

Filing requirement of Form PAS-6

Every unlisted public company covered within the ambit of rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014 are required to file a ‘Reconciliation of Share Capital Audit Report’ in Form PAS-6.

Due date for filing of Form PAS-6 and extended

Every unlisted public company shall submit a ‘Reconciliation of Share Capital Audit Report’ in Form PAS-6 within a period of 60 days from the conclusion of each half-year. Accordingly, the due dates for filing of the Form shall be-

Particulars	Due date
For half-year ending on 30th September	On or before 29th November
For half-year ending on 31st March	On or before 30th May

Vide the General Circular No. 16/2019 dated 28^th November 2019, the Ministry of Corporate Affairs had earlier extended the time limit for filing Form PAS-6 for half-year ending 30^th September 2019 to 60 days from the date of deployment of the relevant Form PAS-6 on the website.

However, the Form PAS-6 is first time deployed on the website on 15^th July 2020. Accordingly, as per the General Circular No. 16/2019, the due date for filing Form PAS-6 is 12^th September 2020.

Additionally, as a measure of COVID-19 relief, the Ministry of Corporate Affairs, vide General Circular No. 11/2020 dated 24^th March 2020, has announced that no additional fees shall be charged/ chargeable for any late filing during the moratorium period from 1^st April 2020 to 30^th September 2020.

Concluding thereby, the due date for filing Form PAS-6 for both the half-year ending 30^th September 2019 and 31^st March 2020 shall be 30^th September 2020.

Other important points

1. Provisions of rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014 doesn’t apply to a Nidhi Company, a Government Company, and a Wholly Owned Subsidiary.
2. The Reconciliation of Share Capital Audit Report in Form PAS-6 is to be filed twice in a year, on a half-yearly basis, for each ISIN (i.e., International Security Identification Number).
3. E-form PAS-6 is to be signed by either the Director or Manager or CEO or CFO of the company. It should be noted that the disqualified director is not allowed to sign the e-form.
4. The form is to be signed and certified by the practicing professional i.e., Chartered Accountant in practice or Company Secretary in practice.
5. Vital details to be provided in Form PAS-6 are-
   1. Details of the capital of the company.
   2. Details of changes/ amendment in share capital during the half-year.
   3. Details of shares held by Directors, Promoters, and KMP.
   4. Details of the company secretary of the company.
   5. Details of the practicing professional certifying the Form.