Companies Act 2013 · FEMA · Income-tax — modelled directly

The register of record for Indian equity.

Cap table, ESOP and MCA / FEMA / Income-tax compliance on one append-only ledger.The PAS-3 clock runs from the allotment: 15 days for a private placement (Sec 42(8)), 30 days for rights, bonus and ESOP allotments. The arithmetic is proven decimal-exact across 229 automated engine tests.

Reviewed by professionals·Built for investors & startups·Data resident in Mumbai ap-south-1·Append-only ledger

Schedule of modules

Every event that touches your cap table, prepared to the statute.

Indian equity primitives, modelled directly — no Delaware assumptions bolted on.

No.ModuleWhat it doesStatutory basis

01Cap tableCap tableFully-diluted ownership replayed from every issuance, transfer and conversion — drill any number to the event that made it.Sec 88Sec 88

02AllotmentsAllotmentsPrivate-placement allotments with the PAS-3 clock, offer letters and board resolutions prepared from the round.Sec 42 · 62Sec 42 · 62

03ESOPESOPGrants, vesting, exercises and perquisite tax at exercise — on the same ledger as your equity.Rule 12Rule 12

04FEMA reportingFEMA reportingForeign investment tracked to FC-GPR and FLA filings, valued on the DCF or NAV basis the round used.FEMA 20(R)FEMA 20(R)

05RegistersRegistersMGT-1, SH-3 and the members' register stay current as the ledger grows — export-ready and watermarked.Sec 88 · SH-3Sec 88 · SH-3

06Audit trailAudit trailEvery entry is append-only. Corrections are reversing entries, never edits — provable end to end.ImmutableImmutable

Fully-diluted ownership, every row traceable to its source ledger event.

What the ledger looks like

One screen, every share accounted for.

Each row on this cap table is not typed in — it is replayed from a ledger event: an allotment resolution, a transfer lodged on SH-4, an iSAFE converting at ₹142.00 a share. Click a row and it opens the event that produced it.

Quantities are stored as Postgres NUMERIC, never a floating-point number, and the arithmetic that derives this view is checked by229 automated engine tests before it ships.

Three parties, one record

Every Indian deal has three desks. Saral keeps one record for all of them.

FoundersClose the round on Indian paper — iSAFE to CCPS, allotment to PAS-3, all from one ledger event.Sec 42 · PAS-3→InvestorsCap-table access as a standing grant — every position traceable to the resolution that made it.MGT-1 · FC-GPR→CS · CA · LegalFiling packs drafted on every event, stopped at your desk for review, DSC and filing.MGT-14 · SH-7→

The append-only ledger, live

ALLOT4,00,000 equity · fully paidPAS-3 · 15d/30d

CONVERTiSAFE → CCPS at ₹142.00Sec 42

GRANT18,000 options · 4y / 1y cliffRule 12

FC-GPRforeign allotment reportedFEMA · 30d

TRANSFER25,000 shares · SH-4 lodgedSec 56

EXERCISE6,250 options · perquisite bookedSec 17(2)

REVERSEcorrecting entry · never an editAppend-only

ALLOT4,00,000 equity · fully paidPAS-3 · 15d/30d

CONVERTiSAFE → CCPS at ₹142.00Sec 42

GRANT18,000 options · 4y / 1y cliffRule 12

FC-GPRforeign allotment reportedFEMA · 30d

TRANSFER25,000 shares · SH-4 lodgedSec 56

EXERCISE6,250 options · perquisite bookedSec 17(2)

REVERSEcorrecting entry · never an editAppend-only

Ledger invariant

The transaction ledger is append-only. A mistake is corrected by a reversing entry — never by editing history.

Cap tables are derived views, computed by replaying the event log. The log is the source of truth — every share quantity, price and ratio kept as exact decimal, never a floating-point number.

Three truths we build on.

T-01

Indian law is not a plugin.

Sections 42 and 62, the ESOP Rules, FEMA 20(R) — modelled as first-class primitives, not a US cap table wearing an India label.

T-02

The ledger is the truth.

Cap tables are replayed from events, never edited in place. Every share reconciles to the resolution that authorised it.

T-03

We prepare; you certify.

Saral drafts the filings, forms and registers. Your Company Secretary reviews, signs and files — the boundary is explicit and always visible.

Built for Indian law, not adapted to it

Every server, every backup, in Mumbai.

Saral's databases run in the ap-south-1 region — South Asia, Mumbai. The team building it works out of the same city, on the same filing calendar as the companies it serves: the PAS-3 clock, the FC-GPR clock, the annual MGT-7 window.

ap-south-1 · Mumbai — the ledger never leaves Indian soil

We're new. Here's why the numbers hold.

No borrowed logos. Saral is in early access — we're onboarding our first design partners, and the proof is in how the ledger is built.

Reviewed by professionalsEvery compliance rule set is checked against the gazette by practising professionals before it ships. Built for investors and startups.Reviewed

Decimal-exact arithmeticShare, price and ratio math proven across 229 automated engine tests.229 tests

Append-only ledgerCorrections are reversing entries, never edits — provable end to end.Immutable

Data resident in IndiaEvery server and backup in Mumbai — the ledger never leaves Indian soil.ap-south-1

Row-level tenant isolationAccess is enforced in Postgres on every tenant table, not by app code that could be bypassed.RLS

Part of the CapEasy suiteBuilt alongside Kaarya, Pramaan and Saahak — one identity, one standard.CapEasy

Become a design partner

A CapEasy engineer replies within a working day.

Move your cap table onto the record.

Import from spreadsheets or your existing provider in a day. Saral replays every event, reconciles to the last rupee, and keeps the PAS-3 clock running for you.

No card. A CapEasy engineer replies within a working day — or see the ledger yourself at app.getsaral.in.