ROC Chennai Levies Penalty for Missing Allottee Data in Form PAS-3
The Registrar of Companies (ROC), Chennai, has issued an adjudication order penalizing a Nidhi company and its director for failing to provide mandatory details regarding allottees in their regulatory filings. The order, dated January 8, 2026, highlights the strict necessity of adhering to Rule 14(6) of the Companies (Prospectus and Allotment of Securities) Rules, 2014.
Regulatory Framework and Violation
The adjudication proceedings were initiated under Section 454 read with Section 450 of the Companies Act, 2013. The core issue pertained to a violation of Rule 14(6) of the Companies (Prospectus and Allotment of Securities) Rules, 2014.
According to this rule, whenever a company files a return of allotment in Form PAS-3, it must be accompanied by a comprehensive list of allottees. This list is statutorily required to contain specific data points, including:
- The full name, address, Permanent Account Number (PAN), and E-mail ID of the security holder.
- The class of security held.
- The date of allotment.
- The number of securities held, nominal value, and amount paid.