on behalf of my company I filed Form SH-7 to increase the authorized share capital of the company from Rs. 10,00,000/- divided into 1,00,000 equity share of Rs.10/- each to Rs.25,00,000/- divided into 2,50,000 equity shares of Rs.10/- each, by increasing 1,50,000 equity shares of Rs.10/- each, which duly got approved.
while filing the above said form unfortunately there was a typing mistake i.e. the issued / subscribed / paid-up capital has shown as Rs.10,00,000/- which is not correct. The correct issued, subscribed and paid-up capital of the above the company is Rs.1,10,000/- which is the true fact.
and now the master data shows the increased authorised share capital of Rs.25 Lac and paid up capital 10 Lac. our company is seeking guidance to rectify the mistake and correct the master data with paid up capital of Rs.1,10,000/-.from ROC but we didn't get any solution from ROC yet.
and we have not yet filed form PAS-3 because of doubt that if we will file PAS-3, the master data will again show further increase in paid up capital.
I need the experts advice. please help me in this respect with your expertise and experience.
22 June 2016
Dear Kavita, As you have said it is a typing mistake you can raise a ticket for Correction in master data. Moreover , send the documents hard copies to ROC for correction of same. You can file PAS -3 for the allotment of shares with correct data. Moreover the paid up capital is linked with Annual REturn forms and if the same has not been updated then it can done correctly thru annual return form.
22 June 2016
Thank you sir, for your reply. I already raised the ticket for correction of master data and got the following reply. "The master data would be updated only based on the details entered in the form. Please file the form again with the correct details and get it approved in order to correct the master data." and also send the documents hard copy to ROC for correction but the concerned officer is not taking any action from his side. Now should I file form SH-7 again with correction or file PAS-3 and annual return....Please suggest.
22 June 2016
Dear Kavitha, Master data will updated by 2 forms. 1.SH-7 2.PAS-3
Now you can file PAS-3 with correct data.if the form accepts the same then master data will automatically changed. otherwise you will contact ROC personally, explain the situation same, if they are agreed master data changed with penalty.
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