Overview
PAS 6 is a half yearly compliance form required to be filed by unlisted public companies for reconciliation of share capital audit. It is applicable to those companies whose shares are required to be held in dematerialised form under Rule 9A of the Companies Prospectus and Allotment of Securities Rules. The requirement is governed by the Companies Act, 2013 and regulated by the Ministry of Corporate Affairs.
As per the provisions, every unlisted public company must facilitate dematerialisation of its securities and ensure that shareholders hold shares in Demat form through depositories. PAS 6 is a Reconciliation of Share Capital Audit Report which ensures that the total issued capital of the company matches with the capital held in Demat and physical form. It helps in maintaining transparency and preventing discrepancies in shareholding records.
The form is required to be filed on a half yearly basis. For the period April to September, it must be filed within 60 days from the end of the half year. Similarly, for October to March, it must be filed within 60 days from the end of that period. The form must be certified by a practicing Company Secretary or Chartered Accountant. Non filing may lead to penalties and restrictions in corporate actions.
PAS 6 filing involves reconciliation of issued capital, verification of demat details with depositories and preparation of audit certificate. Any mismatch between issued capital and dematerialised capital must be properly explained. BizGlobal provides complete assistance in preparing reconciliation statements, coordinating with depositories, obtaining professional certification and filing PAS 6 accurately within due dates to avoid non compliance issues.
