PAS-6 — Reconciliation of Share Capital Audit Report

PAS-6 is a half-yearly certificate, filed by a practising Company Secretary or Chartered Accountant, reconciling the company's issued share capital as per its own register against the dematerialised holdings recorded with NSDL and CDSL. It applies to unlisted companies covered by Rule 9B — those above the small-company thresholds that must dematerialise securities — and is filed within 60 days of the close of each half-year (periods ending 31 March and 30 September).

A mismatch between book capital and demat capital in PAS-6 — shares issued in the register but not yet credited in demat form, or vice versa — is one of the most common findings in pre-fundraise diligence, because it usually traces back to a physical allotment that was never pushed through the RTA to NSDL/CDSL. Saral flags any allotment event that has crossed the Rule 9B demat deadline without a corresponding demat credit recorded.

The comparison covers three figures each half-year: capital as per the register of members, capital held in dematerialised form, and any difference — with a mandatory explanation for the difference where one exists.

The cap table, where PAS-6 — Reconciliation of Share Capital Audit Report appears as a computed field traced to the ledger event that created it.