Registering Valuer’s Information in PAS 3 Form: Understanding Additional Details to Enter
May 8, 2023 Valuation
PAS-3 form is a necessary form required to be filed as per the Companies Act, 2013, Section 39(4) and Section 42(0), as well as per Rules 12 and 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.
Generally, when a company creates an allotment of shares or securities, it has to file a return of allotment of PAS-3 to the Registrar of Companies (ROC) on the MCA portal.
However, the Ministry of Corporate Affairs has revised the form, and new Valuation fields are now required to be filled in the form. What are they? – We will discuss them all below in this blog.
Moreover, many companies have questions on how to fill out a PAS 3 form on the MCA portal, or might be troubling to do so.
If that’s you, here in this blog, we will also discuss the step-by-step PAS-3 form-filling process on the MCA portal.
All and all, with the details taken care of, let’s look at
Return Of Allotment Of PAS-3
Details To Be Filled In PAS-3 Form
New Valuation Fields To Answer In PAS-3 Form PAS-3 Form Filling Process on MCA Portal Fees For Filing PAS-3 Form
Purpose Of PAS-3 Form
Share capital is that part of the share that comes from the allotment of shares or an investment made by a company via subscribing shares.
Companies Act 2013 needs these companies to inform about the allotment of shares by filling PAS-3 form to the Registrar of Company (ROC).
Filing the PAS-3 form helps the company provide complete information about the individuals to whom the shares have been issued by the company. This ensures that the company does not get involved in any kind of malpractice.
Hence to avoid malpractice, whenever a company issues any shares or securities, it needs to file a return of allotment in PAS-3 to the Registrar on the MCA portal with a comprehensive list of allottees to whom the securities have been allocated.
It must be noted that the PAS-3 form should be filed within 30 days from the date of shares allotment with the Registrar of Companies over the portal of MCA.
Details To Be Filled In PAS-3 Form
Here are the following details that need to be filled in the PAS-3 Form:
1. Corporate Identification Number (CIN)
2. Company name, registered office address, and company ID based on CIN
3. Securities allotted payable in cash or other than cash
4. Total number of allotments made
Note: Here if consideration is in cash, the details of a maximum of five allotments can be added. If the number of allotments exceeds more than 5, then the company needs to file a separate form for allotment beyond 5.
Similarly, if consideration is other than cash, then the details of a maximum of 3 allotments can be added. If the number of allotments exceeds more than 3, then the company needs to file a separate form for allotment beyond 3.
5. Date of allotment
6. Date of passing shareholder’s resolution
7. SRN of Form No. MGT-14
8. Nature of allotment (Preference shares/equity shares without differential rights/equity shares with differential rights/debentures)
9. Allotment details
10. Details of consideration
11. Details of bonus shares
12. Details of private placement
13. Company’s capital structure after allotment consideration
14. Company’s debt structure after allotment consideration
15. Whether the complete list of allottees has been enclosed as an attachment
What Are The New Valuation Fields To Answer In PAS-3 Form?
(a) *Name of firm/individual undertaking valuation
Add the name of the person or firm conducting the valuation of the company or asset
(b) *Registration number issued by IBBI
Enter the registration number issued by the Insolvency and Bankruptcy Board of India (IBBI)
(c) *Email ID
Provide the email ID of the valuer for communication purposes
(d) *Mobile number
Provide the mobile number of the valuer for communication purposes
(e) *Is valuer, a member of a professional body, i. e. ICAI, ICSI or ICWAI(Yes/No)
Select the option to confirm if the valuer is a member of any of these professional bodies, such as the Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI), or Institute of Cost Accountants of India (ICWAI).
(f) Membership number of the valuer
Enter the membership number of the valuer in the professional body to which they belong.
(g) Permanent Account Number (PAN)
Provide the 10-digit alphanumeric identifier issued by the Income Tax Department of India.
(h) *Has ICAI issued UDIN against the valuation report(Yes/No/NA)
(i) UDIN of valuation report issued by ICAI
Provide the unique Document Identification Number (UDIN) issued by the Institute of Chartered Accountants of India (ICAI) against the valuation report.
(j) *Method of valuation
Enter the valuation method used by the valuer
(k) *Valuation amount
(l) *Date of issue of the report (DD/MM/YYYY)
(m) Other brief details of valuation (if any)
Provide other relevant information related to the valuation not covered by the above points.
The Best Part?
If you are getting your business valuation done from My Valuation, we will provide you with a comprehensive report, where you will receive all these details to fill in the report itself, where the signature is placed by the valuer.
