The ledger stays inside India's borders — the residency the filings assume.
An allotment is not one event. It is four.
Issue ten shares to a foreign investor and the board resolution starts an MGT-14 clock, the allotment itself starts a 15-day PAS-3 clock, the foreign cheque starts a 30-day FC-GPR clock at the RBI, and the register of members has to move the same afternoon. Four obligations, four owners, four deadlines — and most cap-table software stops at the spreadsheet, treating the filings as someone else's problem for later.
Why we built Saral.
We kept watching the same thing happen. An Indian founder closes a round, the money lands, everyone celebrates — and nobody starts the PAS-3 clock. Three weeks later a Company Secretary discovers the 15-day window closed, and a per-day ROC penalty has been quietly accruing the whole time. The cap table lived in one spreadsheet, the deadlines in someone's head, and the two never spoke to each other.
Every tool we could hand them was built for a Delaware C-corp and a 409A valuation — the cap table was in English, but the law underneath was American. So Indian compliance got bolted on as an export, an afterthought, a thing you did later. In India, “later” is a penalty.
So we built Saral to make the ledger and the law one system: the same event that issues the shares opens the filing it legally requires, with the clock already running. Built in Mumbai, on the Companies Act, for the founders, investors and CS / CA teams who actually have to live on India's filing calendar.
One entry, four statutory clocks.
Board approves an allotment — filed with the ROC within 30 days of the board resolution — the special resolution for a fresh issue carries its own 30-day clock.
Shares are allotted — the return of allotment is due within 15 days of the allotment under Rule 12(1) of the Companies (Share Capital) Rules — miss it and the ROC levies a penalty per day of default.
The investor is foreign — reported to the RBI through the FIRMS portal within 30 days of allotment. A cheque from outside India starts a second, parallel clock the day the first one starts.
The register updates — the register of members and, where relevant, the ESOP registers move the same day as the ledger entry — not at month-end reconciliation.
Two ledgers, kept by hand, drift apart within a quarter.
The usual setup: a cap table in a spreadsheet, and a compliance tracker in a different spreadsheet, or in a CS's own filing calendar. Nobody wires the second one to fire off the first. A missed PAS-3 costs a per-day ROC penalty that keeps accruing until it is filed; a missed FC-GPR blocks the next round's FEMA paperwork until the RBI compounds the delay. Both are silent failures — the spreadsheet does not know a deadline exists.
Saral removes the wiring problem by making the ledger the trigger. Every allotment, transfer, conversion, or ESOP exercise is an append-only event; the same event that updates the cap table also opens the MGT-14, PAS-3, FC-GPR, or register entry it is legally required to open, with the day-count already running. Nothing waits for someone to remember.
The register of members, moved the same day as the ledger entry.
We prepare the pack. Your CS or CA still signs it.
Saral prepares documents and tracks deadlines. A practising professional files and certifies — Saral never files, pays or certifies on your behalf.
Saral drafts the PAS-3 return, the MGT-14 resolution filing, and the FC-GPR data from the ledger entry, cross-checked against the same rules a practising Company Secretary reviewed line-by-line. It stops at your desk. Filing, DSC affixation, and certification stay with the professional whose signature is on the form — that boundary is not a limitation we are working around, it is the product working as designed.
Saral is built by CapEasy, an Indian software company, alongside three sibling products — Kaarya, Pramaan, and Saahak — on the same Companies Act 2013, FEMA, and Income Tax Act primitives. The rulebook the product runs on was reviewed line-by-line by a practising Company Secretary in July 2026; corrections, including the PAS-3 15-day branch above, are documented in the repository and enforced by tests.
est. 2026 · Mumbai
Register of members · entry pending