What are Compliances?
Compliance simply means being in accordance with the established guidelines or specifications, rules and regulations laid by the authorities or the process of becoming so.
With the introduction of the Companies act, 2013 the compliance and disclosure requirements of the companies has increased and will be increasing with the due course of time.
Compliances under Companies Act, 2013
For the better understanding of the same we have categorised the compliance in three parts namely:
♦ Event Based Compliances: These compliances need to be done by any entity whenever there is an occurrence of the specific event or any material event.
For example – change in registered office of the company – INC 22 has to be filled
♦ Timely Compliances: These compliances need to be fulfilled by an entity in a particular span of time, say monthly, quarterly, half yearly or yearly.
For example: AOC-4, MGT-7 etc.
♦ Specific Compliances: Some compliance need to be performed by certain companies only based on the requirement criteria of the rules.
In addition to the above compliances a listed entity whose shares are listed on the stock exchange is required to comply with the provisions of Securities Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015 and other various regulations issued by SEBI time to time.
Compliances under the SEBI (LODR) Regulation 2015
Quarterly Compliances
|
COMPLIANCE |
TIMELINE |
REGULATION No |
|
Share Holding Pattern |
Within 21 Days From The Quarter End | 31(1)(B) |
| Corporate Governance Report | Within 15 Days From The End Of The Quarter |
27(2)(A) |
|
Financial Results Along With Limited Review Report |
Within 45 Days From The End Of Quarter |
33(3)(A) |
|
Statement Of Investors Grievance Redressal Mechanism |
Within 21 Days From The End Of Quarter |
13(3)
|
|
Statement Of Deviation(S) Or Variation(S) |
Within 45 Days From The End Of Quarter |
32(1) |
| Reconciliation Of Share Capital Audit Report | Within 30 Days From The End Of Quarter |
76(1) |
Half Yearly Compliances
|
COMPLIANCE |
TIMELINE |
REGULATION No |
|
Disclosures of related party transactions |
30 days from the date of publication of its standalone and consolidated financial results. |
Regulation 23 (9) |
Yearly Compliances
|
Compliance |
Timeline |
Regulation No: |
|
Secretarial Compliance Report
|
within 60 days of the end of the financial year | Regulation 24A
|
|
Annual affirmations for compliance with code of conduct |
At the 1st BM in every Financial Year |
Regulation 26(3)
|
|
Share Transfer Agent |
Within 30 days from the end of financial year. |
Regulation 7(3)
|
|
Payment of listing fees & Other charges
|
Within 1 month of end of 31st March every year |
Regulation 14 |
|
Financial Results along with Auditor’s Report
|
Within 60 days from the end of the financial year |
Regulation 33 (3) (d) |
| Annual Report | Not later than the day of commencement of dispatch to its shareholders. | Regulation 34(1) |
|
Transfer or transmission or transposition of securities |
Within 30 days from the end of the financial year |
Regulation 40 (10) |
|
Initial Disclosure requirements for large entities |
Within 30 days from the beginning of the FY |
Circular issued by SEBI |
|
Annual Disclosure requirements for large entities
|
Within 45 days of the end of the FY |
Circular issued by SEBI |
|
Certificate from |
Within one month of the end of the financial year. |
Regulation 40 (9) |
| Submission of Voting Results to Stock Exchange
|
Regulation 44(3) |
Further according to regulation 30 of SEBI LODR 2015 there are certain event based disclosure which the listed entity needs to comply with which includes prior intimations , any material event , all events specified in Part A schedule iii.
Author Bio
Please change the 15 days to 21 days for corporate governance report in Quarterly compliance.
Hii sir, thankyou so much for the guidance .But after the publication we can not do any changes but i will take a note of it.
thankyou so much