Form PAS-6 is a half yearly reconciliation statement required to be filed under the provisions of Companies Act, 2013. It is specifically related to the dematerialization and reconciliation of securities held by a company. This filing is essential for all Listed Companies, Unlisted public companies and companies who are mandatorily required to convert their physical shares in demat form particularly for reconciling the number of securities held in the electronic form and physical form.

In this guide, we will take you through the significance of Form PAS-6, the filing process, compliance requirements, and more.

Form PAS-6 is a reconciliation statement that must be filed by Listed Companies, Unlisted public companies and companies who are mandatorily required to convert their physical shares in demat form that have issued securities in physical and dematerialized forms. The purpose of this form is to reconcile the total number of securities held by the company with the number of securities held in the electronic form (in a depository) and the physical form.

The filing of Form PAS-6 ensures that the records maintained by the company are in harmony with the records maintained by the depositories (such as NSDL or CDSL), and that there is no discrepancy between the two.

• Listed Companies: Listed Companies, Unlisted public companies and companies who are mandatorily required to convert their physical shares in demat form
  
  

• Companies with Securities in Both Physical and Demat Form: If a company has securities in both physical and dematerialized forms, it must file Form PAS-6.
  
  

• Companies with Shares Dematerialized Under SEBI Regulations: If the company’s shares are dematerialized under SEBI’s regulations, they must reconcile their shareholding as part of this filing.

• The Companies Act, 2013 requires specified companies to file Form PAS-6 that upholds correct shareholder records encompassing physical and dematerialized formats.

• The use of Form PAS-6 helps companies detect and prevent mismatch between their recorded information and the depository databases thereby minimizing errors and fraud possibilities.

• The process of accurate shareholding detail reconciliation builds both shareholder trust and market reputation which leads to investor confidence.

• Not meeting the filing requirements exposes companies to regulatory penalties, together with potential legal penalties.

Every year organizations must submit the Form PAS-6 document through proper channels. According to SEBI guidelines, the filing timeline is as follows:

• Due Date: The form must be filed with the Registrar of Companies (ROC) within 60 days from the end of each half-year. So, you need to submit it twice a year—April 30 for the half-year ending on March 31 and October 31 for the half-year ending on September 30.
  
  

• Deadline for Submission: After the closure of the half-year, the company must file the form with the Registrar of Companies (RoC) and stock exchanges within the specified timeline.

Unlisted companies must file the ROC report containing Form PAS-6 no later than sixty days after a half-year period ends. The due dates to file Form PAS-6 appear below.

Here’s the step-by-step process for filing Form PAS-6:

1. Prepare the Shareholding Reconciliation Statement:
   
   

• Obtain data from both the company’s register of members and the depositories (NSDL and CDSL) to prepare the shareholding reconciliation.
  
  

• Verify the number of shares in both the demat and physical form and prepare a reconciliation statement.
  
  

2. Compile the Necessary Information:
   
   

• Ensure that you have all the required details about the company’s shareholding, securities in demat form, and physical shares.
  
  

3. Log in to the MCA Portal:
   
   

• File Form PAS-6 through the MCA (Ministry of Corporate Affairs) Portal.
  
  

• A login step in the portal system needs you to complete Form PAS-6 by providing necessary information.
  
  

4. Attach Documents:
   
   

• Attach the reconciliation statement to Form PAS-6.
  
  

5. Submit the Form:
   
   

• After completing the form and verifying all the details, submit the form through the MCA portal and pay any applicable filing fees.
  
  

6. Acknowledge the Filing:
   
   

• After successful submission, you will receive an acknowledgement receipt from the portal confirming that the filing has been completed.

• Company Details

This section captures the basic identity of the company:

1. CIN (Corporate Identification Number)

2. Name of the Company

3. Address of the Registered Office

4. Email ID

These details help in uniquely identifying the entity filing the form.

• Period of Filing

Form PAS-6 is a half-yearly return, and you must specify the period for which the return is being filed:

1. 1st Half Year: April 1st to September 30th

2. 2nd Half Year: October 1st to March 31st

The due date for filing is within 60 days from the conclusion of each half-year.

• Details of the Capital of the Company

This section provides a breakdown of the capital structure of the company:

1. ISIN (International Securities Identification Number)

2. Issued Capital

3. Held in Dematerialized Form in CDSL

4. Held in Dematerialized Form in NSDL

5. Held in Physical Form

6. Total Number of Shares

It ensures transparency by reconciling the total number of shares issued versus shares held in physical and dematerialized forms.

• Reconciliation of Share Capital Audit Report

This portion ensures consistency between the company's records and those of the depositories:

1. Details of any changes in share capital during the half-year (e.g., allotments, buybacks, forfeitures, etc.)

2. Details of shares pending dematerialization, if any

3. Details of the register of members updated with information from repositories

4. Reasons for discrepancies, if any

This audit acts as a tool to identify and correct any mismatch in shareholding data.

• Details of Company Secretary / Compliance Officer

Details of the professional responsible for filing the form, which include:

1. Name of the Company Secretary / Compliance Officer

2. Membership Number

3. PAN

This is essential for accountability and tracking compliance responsibilities.

• Certification by a Practicing Company Secretary

A vital part of Form PAS-6 is the digital certification from a Practicing Company Secretary (PCS), which includes:

1. Name and Membership No. of PCS

2. Certificate of Practice (COP) Number

3. Digital Signature

This certification affirms that the PCS has verified the details in the form and found them accurate to the best of their knowledge.

• Digital Signatures and Verification

1. The form must be digitally signed by:
   
   

• The Director, Manager, CEO, or CFO

• Along with the Company Secretary (in case there is one appointed)
  
  

2. The practicing professional must also affix their digital signature

Digital signatures ensure the authenticity and non-repudiation of the filing.