Penal Provisions for Not Obtaining ISIN by Unlisted Public Companies

PENAL PROVISIONS FOR UNLISTED PUBLIC COMPANIES

Recently the ministry of corporate affairs has notified the latest form i.e. Form PAS-6 (Reconciliation of Share Capital Audit Report on a half-yearly basis) which can be utilised in the reconciliation of the share capital audit report on a half-year basis for the public listed companies.

The last date for filing of e-Form PAS-6 (period of April’21 – September’21) Due Date 29th November 2021 For unlisted public companies.

The applicability of Section 450 of Companies Act, 2013 (punishment where no specific penalty or punishment is provided) prevails in consideration of rule 9A for non-compliance which entails no penalty.

Read Also: Know All About MCA Form PAS-6 For Unlisted Public Companies

As per Section 450, the company and every officer of the company who is in default or such other person shall be punishable with a 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.

It is suggested to take the ISIN for your Company in order to ward off any penalty for delay in filing Form PAS-6.

SAG Registrar and Share Transfer Agent (RTA)

Address:- B-9, 2nd & 3rd Floor, Behind WTP South Block, Mahalaxmi Nagar, Malviya Nagar, JAIPUR, RAJASTHAN, 302017
Email id:- info@sagrta.com, rtasales@sagipl.com
Phone Number:- 0141-4727374, 0141-4072000
Official Website:- SAG RTA (Registrar and Share Transfer Agent)

Dedicated SAG RTA Team to Handle Client Transactions and Queries

Appoint SAG RTA as Your RTA Service Provider Now

Appoint RTA Agent Now

Leave a Reply

Your email address will not be published. Required fields are marked *