The Ministry of Corporate Affairs (MCA) has issued General Circular No. 05/2024 on July 6, 2024, announcing an extension of the deadline for filing Web-form PAS-7. This circular provides updated guidelines and timelines that companies need to adhere to regarding the disclosure of shares and convertible instruments.
Details of General Circular No. 05/2024
In accordance with Rule 9(2)(a) of the Companies (Prospectus and Allotment of Securities) Rules, 2014, every public company which had issued share warrants prior to commencement of the Companies Act, 2013 (18 of 2013) and not converted such warrants into shares should have informed the Registrar about the details of such share warrants in Form PAS-7 within a period of three months of the commencement of the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023. In terms of the said rule, Ministry of Corporate Affairs has prescribed Web-form PAS-7 for submitting the details of share warrants to the Registrar.
Web- Form PAS-7 Form has now been deployed on MCA-21 Portal. Stakeholders may file requisite details in terms of Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023 through this Web- Form without payment of additional fees up to August 05, 2024.
Official copy of the circular has been attached
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