Annual Compliances for Public Company based on Turnover under Companies Act, 2013. Article explains Annual Compliances for Public Company when Turnover  is Rs. 50 Crores or more, when Turnover  is Rs. 100 Crores or more, when Turnover  is Rs. 200 Crores or more, when Turnover  is Rs. 250 Crores or more, when Turnover  is Rs. 300 Crores or more and when Turnover  is Rs. 1000 Crores or more.

Please Note-

-Clearly, running a business in the form of a Company is not something to be undertaken lightly.

-Compliance is not only ‘doing the right thing’, or ‘ticking a box’ but it is the way of working and part of the business.

– Remember, the cost of non-compliance is always more than the cost of compliance.

Annual Compliances for Public Company –On the Basis of the Turnover

1. Annual Compliances for Public Company when Turnover  is Rs. 50 Crores or more

Sr. No Compliance Time period / Requirement
1. FORM AOC-4 Filing financial statement and other documents with the Registrar for Financial Year ended.

Within 30 days of AGM

2. Annual Return Certification in Form MGT-8 Attachment in Form MGT-7.

MGT-7 is required to be filed within 60 days of AGM with the certification of CS or PCS

2. Annual Compliances for Public Company when Turnover  is Rs. 100 Crores or more

Sr. No Compliance Time period / Requirement
1. Annual Return Certification in Form MGT-8 Attachment in Form MGT-7.

MGT-7 is required to be filed within 60 days of AGM with the certification of CS or PCS

2. Appointment of Independent Director At least 2 Independent Directors
3. Constitution of Audit Committee The Audit Committee shall consist of a minimum of 3 directors with independent directors forming a majority.
4. Constitution of Nomination And Remuneration Committee 3 NED out of which 2 shall be the Independent Directors. Chairman of Committee shall be an Independent Director.
5. Filing of Financial Statements in Form AOC-4 XBRL Within 30days of the AGM

3. Annual Compliances for Public Company when Turnover  is Rs. 200 Crores or more

Sr. No Compliance Time period / Requirement
1. Annual Return Certification in Form MGT-8 Attachment in Form MGT-7.

MGT-7 is required to be filed within 60 days of AGM with the certification of CS or PCS

2. Appointment of Independent Director At least 2 Independent Directors
3. Constitution of Audit Committee The Audit Committee shall consist of a minimum of 3 directors with independent directors forming a majority.
4. Constitution of Nomination And Remuneration Committee 3 NED out of which 2 shall be the Independent Directors. Chairman of Committee shall be an Independent Director.
5. Filing of Financial Statements in Form AOC-4 XBRL Within 30days of the AGM
6. Appointment of Internal Auditor Internal Audit is the check to assess the risk management and to ensure that risk management processes are efficient, effective, secure, and compliant. It is the basic check of internal control of the organization. An internal audit is an organizational move to check, ensure, monitor, and analyze its own business operations in order to determine how well it conforms to a set of specific criteria.

4. Annual Compliances for Public Company when Turnover  is Rs. 250 Crores or more

Sr. No Compliance Time period / Requirement
1. Annual Return Certification in Form MGT-8 Attachment in Form MGT-7.

MGT-7 is required to be filed within 60 days of AGM with the certification of CS or PCS

2. Appointment of Independent Director At least 2 Independent Directors
3. Constitution of Audit Committee The Audit Committee shall consist of a minimum of 3 directors with independent directors forming a majority.
4. Constitution of Nomination And Remuneration Committee 3 NED out of which 2 shall be the Independent Directors. Chairman of Committee shall be an Independent Director.
5. Filing of Financial Statements in Form AOC-4 XBRL Within 30days of the AGM
6. Appointment of Internal Auditor   Internal Audit is the check to assess the risk management and to ensure that risk management processes are efficient, effective, secure, and compliant. It is the basic check of internal control of the organization. An internal audit is an organizational move to check, ensure, monitor, and analyze its own business operations in order to determine how well it conforms to a set of specific criteria.
7. Appointment of Secretarial Auditor   Secretarial Audit is a process to check compliance with the provisions of various laws and rules/regulations/procedures, maintenance of books, records, etc., by an independent practicing Company Secretary to ensure that the company has complied with the legal and procedural requirements and also followed due processes.

5. Annual Compliances for Public Company when Turnover  is Rs. 300 Crores or more

Sr. No Compliance Time period / Requirement
1. Annual Return Certification in Form MGT-8 Attachment in Form MGT-7.

MGT-7 is required to be filed within 60 days of AGM with the certification of CS or PCS

2. Appointment of Independent Director At least 2 Independent Directors
3. Constitution of Audit Committee The Audit Committee shall consist of a minimum of 3 directors with independent directors forming a majority.
4. Constitution of Nomination And Remuneration Committee 3 NED out of which 2 shall be the Independent Directors. Chairman of Committee shall be an Independent Director.
5. Filing of Financial Statements in Form AOC-4 XBRL Within 30days of the AGM
6. Appointment of Internal Auditor    Internal Audit is the check to assess the risk management and to ensure that risk management processes are efficient, effective, secure, and compliant. It is the basic check of internal control of the organization. An internal audit is an organizational move to check, ensure, monitor, and analyze its own business operations in order to determine how well it conforms to a set of specific criteria.
7. Appointment of Secretarial Auditor   Secretarial Audit is a process to check compliance with the provisions of various laws and rules/regulations/procedures, maintenance of books, records, etc., by an independent practicing Company Secretary to ensure that the company has complied with the legal and procedural requirements and also followed due processes.
8. Appointment of Women Auditor   The Indian Government came up with this rule in the Companies Act, 2013 for the empowerment of women.

6. Company Law Compliances when Turnover  is Rs. 1000 Crores or more

Sr. No Compliance Time period / Requirement
1. Annual Return Certification in Form MGT-8 Attachment in Form MGT-7.

MGT-7 is required to be filed within 60 days of AGM with the certification of CS or PCS

2. Appointment of Independent Director At least 2 Independent Directors
3. Constitution of Audit Committee The Audit Committee shall consist of a minimum of 3 directors with independent directors forming a majority.
4. Constitution of Nomination And Remuneration Committee 3 NED out of which 2 shall be the Independent Directors. Chairman of Committee shall be an Independent Director.
5. Filing of Financial Statements in Form AOC-4 XBRL Within 30days of the AGM
6. Appointment of Internal Auditor Internal Audit is the check to assess the risk management and to ensure that risk management processes are efficient, effective, secure, and compliant. It is the basic check of internal control of the organization. An internal audit is an organizational move to check, ensure, monitor, and analyze its own business operations in order to determine how well it conforms to a set of specific criteria.
7. Appointment of Secretarial Auditor Secretarial Audit is a process to check compliance with the provisions of various laws and rules/regulations/procedures, maintenance of books, records, etc., by an independent practicing Company Secretary to ensure that the company has complied with the legal and procedural requirements and also followed due processes.
8. Appointment of Women Auditor The Indian Government came up with this rule in the Companies Act, 2013 for the empowerment of women.
9. Constitution of CSR Committee Minimum 3 or more directors must form CSR Committee.
Among those 3 directors, at least 1 director must be an independent director.
An unlisted public company or a private company shall have its CSR Committee without any independent director if an independent director is not required

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