MCA Notification of PAS-6_Mandatory for Unlisted Public Companies

Published At: 23-Jul-2020



Every Unlisted Public Company shall issue its securities in dematerialized form and facilitate dematerialization of all its existing securities as well.




The Ministry of Corporate Affairs has introduced a new form i.e. Form PAS-6 (Reconciliation of Share Capital Audit Report on a half-yearly basis) which is basically used for the reconciliation of the share capital audit report on the half-year basis.


The notification was introduced pursuant to Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014 as amended vide Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2019 dated 22nd May, 2019 and it became effective from 30th September 2019.



A paperless form of trading in shares whereby share transactions and transfers are processed electronically without involving any share certificate or transfer deed after the share certificate has been converted from physical to electronic form.


An investor who wants to dematerialize his share needs to open DEMAT account with depositary participant (a market intermediary through which investors can avail depository services). Investor surrenders his physical shares and get electronic shares in turn to his demat account.



This rule shall be applicable to:

Ø  Every Unlisted Public Company ;

Ø  Every Private Company which is a Subsidiary of Public Company (deemed to be a Public Company) ;

is mandatorily required to dematerialize its existing securities as well as new issue of securities.


As per sub Rule 8 of Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014, every unlisted public company shall submit Form PAS-6 (Reconciliation of Share Capital Audit Report) to the Registrar within sixty days from the conclusion of each half year duly certified by a Company Secretary in Practice or Chartered Accountant in Practice.


Every unlisted public company is required to facilitate dematerialization of its shares and submit a half-yearly reconciliation statement of shares in Form PAS-3. So, it is mandatory for every Unlisted Public Company to convert their physical shares to dematerialized shares


In case of non-compliance of this rule, the company and every Officer/Director of the company who is in default or such other person shall be punishable with fine which may extend to ten thousand rupees, and where the contravention is continuing one, with a further fine which may extend to one thousand rupees for every day after the first during which the contravention continues.


Form PAS-6 was not made available at the time of notification of these rules for half-year ended 30th September, 2019 and hence, extension for filing of the Form was granted till Sixty days from the deployment of this Form.


The said Form PAS-6 has been deployed w.e.f 15th July, 2020 and is available for filing. The same is required to be filed for half-year ended 30th September, 2019 and 31st March, 2020 within 60 days of deployment of the form, i.e. by 12th September, 2020.


Non Applicability


The above rule, Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014 not applicable on the following unlisted public Companies: -


·         Nidhi Company

·         Government Company

·         Wholly owned subsidiary


Date of Deployment of Form PAS-6


15th July, 2020.


Last Date of filling of Form


Form PAS-6 for the half year ended on 30.09.2019 can be file without additional fees within 60 days from the date of deployment of Form on the website of the Ministry (i.e. 60 days from 15th July, 2020).

Fee of the Form

The fees for filing of form vary depending upon the nominal Share Capital of the Company. For fees applicable to your company refer the Companies (The Registration of offices and Fees) Rules, 2014.


Processing Type

The form will be processed in Straight through Process (direct approval) mode.

Click Here for List of Key details Required for Form  PAS-6 

Prepared by

Ruchi Mehta

Senior Associate

Secretarial & Legal

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