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|