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Prospectus and Allotment of Securities - Form PAS 3 | Download Free Template

Lawyered provides the best information about the PAS 3 form including its purpose and full form. Get answers to all your questions about the PAS 3 form with Lawyered.

In this article you will be covering pas 3 full form, pas 3 form purpose, return, allotment and filling of pas 3 form

1. What is Form PAS 3 filing?

Form PAS-3 filing is required to be filed according to Section 39(4) and 42(9) of Companies Act, 2013 and also under Rule 12 of Companies Act (Prospectus & Allotment of securities) rule2014. Whenever any company having a share capital makes any allotment of securities, it should file PAS 3 Form with the Registrar. PAS 3 Form is a return of allotment that contains the details of the shares allotted and name of the allottees. It must be noted that form PAS 3 is an e form and is to be filed electronically over the portal of MCA within 30 days from the date of form for share allotment i.e., form Pas 3 is required form for share allotment. Private placement of security is pas 3 full form.

2. Why is Form PAS 3 used and PAS 3 form Purpose:

Whenever a company makes any allotment of shares or securities, it is required to file a return of allotment in eForm PAS-3 to the Registrar within thirty days of such allotment including the complete list of allottees to whom the securities have been issued. This is the main PAS 3 form purpose. Form PAS-3 filing helps in providing complete information as to the persons to whom the shares have been allotted by the company so that company does not indulge itself in any kind of malpractices. It is clear that PAS 3 form purpose is to stop malpractices in allotment of shares and securities. The MCA is successful in implementation of PAS 3 form purpose to a large extent.

3. PAS 3 Form: Return of Allotment

Sections 39(4) and 42(9) of the Companies Act, 2013, as well as rules 12 and 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014, necessitate the filing of e-Form PAS-3.

Any corporation is required to file a return of allotment in e-Form PAS-3 to the Registrar on the MCA Portal whenever it makes any allocation of shares (form for share allotment) or securities, including a complete list of allottees to whom the securities have been distributed.

Following information need to be entered in PAS 3 form filing:

• Corporate Identification Number (CIN)

• Securities allotted payable in cash or for consideration other than cash

• Number of total allotments made

• Date of allotment

• Date of passing shareholder’s resolution

• SRN of Form No. MGT-14

• Nature of allotment i.e. Preference shares/equity shares without differential rights or equity shares with differential rights or debentures

• Details about allotment

• Details of consideration

• Likewise, Details of bonus shares

• Details of private placement

• The capital structure of the company after considering allotment.

• Debt structure of the company after considering allotment

• Whether the complete list of allottees has been enclosed as an attachment

Due Date for PAS 3 Form Filing

Case-1: Allotment of shares to Public at large 

If a company makes allotment of shares(form for share allotment) to the public at large then the company shall file with the registrar a return of allotment of shares within 30 days in PAS 3 form filing.

Case-2: Allotment of shares through private placement 

If a company makes allotment of shares (form for share allotment) through private placement then the company shall file with the registrar a return of allotment in form PAS 3 within 15 days of allotment.

Due dates to file return of allotment of shares can be better understood as follows:

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