- AAKANSHA NEGI
- | Company Law - Articles |
- 23 Oct 2020
- 46,428 Views
- 3 comments
Unlisted Public Limited Company and its Compliance Section 2(71) of the Companies Act, 2013 explained a Public Company.
A Public Company is a company that offers shares to the general public and has Limited Liability with a minimum of 3 Directors and minimum of 7 members.
Features of Unlisted Company:
- The shares of the Unlisted Public Company are not available for general public.
- It is not listed on any stock exchange.
- An Unlisted Company can have an unlimited numbers of shareholders for raising capital for any commercial venture.
Note: A company which is a subsidiary of a public company shall be deemed to be a public company for the purpose of this Act even where such subsidiary continues to be private company in its Articles.
- Compliances for Unlisted Public Company:
| S.no | Particulars of Compliance | Section and Rules | Form No. | Due Dates |
| 1. | Board Meetings | Section 173, Companies Act, 2013 | …… | At least 4 Board Meetings in a year. |
| 2. | Appointment of Auditor | Section 139, Companies Act, 2013 | ADT-1 | Within 30 days of incorporation of Company. |
| 3. | Return of Deposit | As per Rule 16 of companies (Acceptance of Deposit) Rules, 2014 | DPT-3 | 30th June of every year. |
| 4. | Director’s Disclosure | Section 184(1)of the companies Act,2013 to be read with Rule 9(1) of the Companies (Meetings of Board and its Powers) Rules, 2014 | Form MBP-1 | After its appointment in first meeting. |
| 5. | Annual General Meeting | Section 96 of the Companies Act, 2013 | …….. | The first Annual General Meeting is to be held within 9 months of the end of Financial year. |
| 6. | Annual Return | Section 92 of the Companies Act, 2013 | MGT-7 | To file Annual Return within a period of 60 days from the date of holding Annual General Meeting. |
| 7. | Financial Statements | Section 134 of the Companies Act, 2013 | AOC-4 | To file Balance Sheets together with statement of Profit and Loss Account and Director’s Report within 30 days from the date of holding Annual General Meeting. |
| 8. | Appointment of CEO or CFO or CS | Section 203 read with Rule 8 & 8A of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 | Form MGT-14 and Form DIR-12 | Within 30 days of the Annual General meeting and in case of casual vacancy within 6 months. |
| 9. | Commencement of Business (If the Company is incorporated on/after 2nd November 2018 | Section 10A | Form 20A | The form must be filed within 180 days from date of Incorporation. |
| 10. | KYC of Directors | Form DIR-3 KYC |
- Requirement of Secretarial Audit Report
- Public Company, having paid up share capital of equal or more than 50 crores.
- Every Public company having a turnover of 250 Crores or more has to obtain secretarial audit report in Form MR-3 from Practicing Company Secretary.
Tags: Companies Act, Companies Act 2013
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Name: AAKANSHA NEGI
Qualification: CS
Company: N/A
Location: DELHI, Delhi, India
Member Since: 13 Mar 2019 | Total Posts: 49
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In my view it is necessary for unlisted Public company to demetallized its share and they need to file PAS-6 on Half Yearly basis
In my Point of View Unlisted Public Company is required to Demetallized his share and need to file PAS-6 form on half year basis
In my view MGT-14 for approval of Financials and draft Board Report also needs to be listed