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:
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.
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 |
In my view MGT-14 for approval of Financials and draft Board Report also needs to be listed