PAS-3 errror-MGT-14 for Convesrion of CCS to CCPS

[Puja Sancheti]

Dear Members,

The Company has converted CCD to CCPS on 14/12/2022 in EGM and filed MGt-14 within 30 days.

Due to portal issue PAS-3 wasnt filed within due date.

Now in PAS-3, when we give MGT-14 SRN, it says Please enter SRN of MGT 14 filed under purpose Allotment of securities.

Why would we file MGT-14 for Allotment of securities? It is a private Company.

Please suggest.

Regards

Puja

[Vineet Maheshwari]

Technically you have to give SRN of the MGT-14 filed at the time of issue of CCDs. If the CCDs are converting into CCPs in terms of conversion, you would not require the approval of shareholders again. 

Also, what was the purpose you have mentioned in MGT-14 filed at the time of conversion ?

Thanks 

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[Puja Sancheti]

Hi, 

Thanks for the reply.

Purpose of form was given as conversion of ccd to ccps under "other".

It was an old ccd, the company wanted to bring in notice to all the shareholders and hence converted in egm with shareholders approval.

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[Vineet Maheshwari]

Hi.. This may be the reason why error is coming, as in V3 shareholders resolution passed by shareholders under section 62(1)(c) or 71 or 42 filed in form MGT-14 under the category of Allotment of Securities and then type of Allotment of securities (allotment heremeans the proposed allotment). As you have mentioned the same in other category, it may be due to the same.

 

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[Puja Sancheti]

How can i resolve this?

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[Vineet Maheshwari]

In my view you can give the SRN of the MGT-14 filed at the time of issue of CCDs.

Thanks

Vineet Maheshwari

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