Overview for Public Limited Company
To comply with the annual compliances prescribed by the Public Limited Companies Act, 2013. Public limited companies are classifie into two. Listed & unlist public limited companies. Seven/more persons can start a PLC. A public limited company has to pay heavy penalties & fines for non-compliance.
What is a Listed & Unlisted Company?
- Listed Company
- A listed Company is explain in Section 2(52) of the Companies Act, 2013.
- A listed company means a company has its securities listed on any recognized Stock Exchange.
- Shares can be trad on the stock exchange.
- It in turn makes an initial public offering or IPO to raise capital.
- Unlisted Company
- Company is not define in the Companies Act, 2013.
- A company may be a PLC or a Pvt Ltd.
- The shares of the unlisted companies are not available to the general public.
- An unlisted company is not list on any stock exchange as it has no restricted shares.
- An unlisted Company can have an unlimited number of shareholders for raising capital for any commercial venture.
Annual Compliances PLC
- Listed Public Limited Company
| S. No | Compliance | Particulars of Compliances | Form No | Section | Due Date |
| 1. | Annual General Meeting | Annual General Meeting is to be conduct as per the provisions of the Act. | Form MGT-15 | Section 121(1) of the Companies Act,2013 | Within thirty days from date of its incorporation. |
| 2. | Financial Statements | Balance sheet, Director’s Report, Cash Flow Statement Auditor’s Report and the consolidate Financial Statement prepar in Extensible Business Reporting System (XBRL). | Form AOC-4 | As per Section 137 of the Companies Act to be read with Rule 12(2) of the Companies (Accounts) Rules, 2014. | Within thirty days of holding the Annual General Meeting or AGM |
| 3. | Annual Return | Information about the directors and shareholders is to be file with the relevant Registrar of Companies | MGT-7 | According to section 92 of the Companies Act, 2013 to be read with Rule 11(1) of the Companies (Management and Administration) Rules 2014. | Within sixty days of the Annual General Meeting (AGM) |
| 4. | Financial and Director’s Report | Adoption of Financial and Director’s Report | Form MGT-14 | 1 Within |
Event-Based Compliances for a Listed Company
- Change in the internal administration of the company.
- Unexpect activities to be perform by the company.
- Some expect or unexpect corporate growth.
- Any unforeseen activities which can lead to some change in the company’s registration.
Annual Compliances
- Unlisted Public Limited Companies
| S.No | Compliance | Particulars of Compliance | Form No. | Section and Rules | Due Dates |
| 1. | Board Meeting | Discussions related to appointment or reappointment of auditor or any such related issues. | Section 173 of the Companies Act | At least 4 Board meetings in a year. | |
| 2. | Appointment of Cost Auditor | Issue the Letter of Appointment to the Cost Auditor and intimation to be made to the Central government about its appointment. | Form CRA-2 | As per Section 148(3) along with Rule 6(2) and Rule 6(3A) of the Companies (Cost Records and Audit) Rules,2014 | Original Appointment to be done within 30 days of Board Meeting or 180 days of Financial year, whichever is earlier Casual Vacancy to be fille within 30 days of Board Meeting. |
| 3. | Return of Deposits(DPT) | The Return of Deposit should be file before the Registrar of Companies or ROC. | Form DPT-3 | As per Rule 16 of Companies (Acceptance of Deposit) Rules, 2014 | 30th June of every year. |
| 4. | Appointment of CEO or CFO or CS | Appointment of full time or casual CEO or CS or CFO | Form MGT-14 & Form DIR-12 | According to Section 203 read with Rule 8 & 8A of the Companies (Appointment and remuneration of Managerial Personnel) Rules, 2014. | If there is a casual vacancy within 6 months within 30 days of the Annual General Meeting. |
| 5. | Annual General Meeting | Conducting Annual General Meeting for declaration of dividend. | Section 96 of the Companies Act, 2013 | The first Annual General Meeting is to be held within 9 months of the end of the financial year. | |
| 6. | Special Resolution | Special Resolution pass at Annual General Meeting | Section 117 of the Companies Act, 2013 to be read with Rule 24 of the Companies (Management and Administration) Rules, 2014. | Within 30 days of passing the resolution. | |
| 7. | CSR Committee | Hold meeting and approve CSR Activities | Section 135 of the Companies Act, 2013 read with companies(Corporate Social Responsibility Policy) Rules, 2014 & SS-1 | Four Board meetings with a gap of not less than 120 days between two Board meetings. | |
| 8. | Director’s Disclosure | Director’s need to disclose financial interest in the company. | Form MBP-1 | Section 184(1) of the Companies Act, 2013 to be read along with Rule 9(1) of the Companies (Meetings of Board and its Powers) Rules,2014. | After its appointment in the first meeting. |
Event-Based Compliances for Unlisted Company
There are some event-base Compliances for an unlisted company like:
- Alteration made in Memorandum of Association or Articles of Association.
- Change in the name of the register office and change of address
- Any changes caused by the occurrence of certain events.
FAQS ABOUT Annual Compliance for Public Limited Company?
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