When a company allots shares, it must file the PAS-3 form with the Ministry of Corporate Affairs (MCA) within 30 days of the allotment. This form is used to report the return of allotment of shares, and it is a crucial compliance requirement for companies. The allotment of shares can be done through various means, including private placement, public issue, or rights issue.
What is PAS-3 and its Purpose?
PAS-3 is a form prescribed under the Companies Act, 2013, which requires companies to file a return of allotment of shares with the Registrar of Companies (ROC). The purpose of this form is to provide details of the shares allotted, including the number of shares, face value, and premium, if any. The form also requires companies to provide details of the allottees, including their names, addresses, and the number of shares allotted to each of them.
Due Date for Filing PAS-3
The due date for filing PAS-3 is within 30 days of the allotment of shares. It is essential to file this form on time to avoid any penalty or late fees. Companies should ensure that they have all the necessary documents and information ready before filing the form.
Documents Required for Filing PAS-3
- Board resolution authorizing the allotment of shares
- Share allotment letter
- Share certificate
- List of allottees
- Payment receipt for the shares allotted
Penalty for Late Filing of PAS-3
If a company fails to file the PAS-3 form within the prescribed time limit, it will be liable to pay a penalty. The penalty for late filing of PAS-3 is Rs. 100 per day, subject to a maximum of Rs. 1,00,000. Therefore, it is crucial to file the form on time to avoid any penalty or late fees.
| Delay in Filing (in days) | Penalty (in Rs.) |
|---|---|
| 1-30 days | Rs. 100 per day |
| 31-60 days | Rs. 200 per day |
| 61 days and above | Rs. 300 per day, subject to a maximum of Rs. 1,00,000 |
The key takeaway is that filing PAS-3 on time is essential to avoid any penalty or late fees. Companies should ensure that they have all the necessary documents and information ready before filing the form.
Frequently Asked Questions
What is the purpose of filing PAS-3?
The purpose of filing PAS-3 is to provide details of the shares allotted, including the number of shares, face value, and premium, if any, to the Registrar of Companies (ROC).
What is the due date for filing PAS-3?
The due date for filing PAS-3 is within 30 days of the allotment of shares. Verify the current figure as it may change over time.
What are the documents required for filing PAS-3?
The documents required for filing PAS-3 include board resolution authorizing the allotment of shares, share allotment letter, share certificate, list of allottees, and payment receipt for the shares allotted.
The bottom line
Filing PAS-3 is a critical compliance requirement for companies that allot shares. It is essential to file this form on time to avoid any penalty or late fees. Companies should ensure that they have all the necessary documents and information ready before filing the form to avoid any last-minute hassles.
This is general information, not professional advice — confirm the current position for your specific case before acting.
ROC & MCA Compliance
Stay MCA-compliant — annual filings, DIR-3 KYC and more from ₹799.
Never miss an update
Get GST, Income-Tax, TDS and MCA changes in your inbox.