Public Limited Company Annual Compliance in India: Filing Process & Key Dates

A Public limited company annual filings are mandatory submissions to the Ministry of Corporate Affairs (MCA) that demonstrate a company's financial health and operational status. These filings are essential for maintaining legal compliance and transparency. They provide a record of the company's activities and financial position for stakeholders, including shareholders, investors, and the public.

A Annual filings are crucial for a public limited company's good standing with the MCA. They ensure transparency, provide stakeholders with essential information, and help avoid penalties for non-compliance. These filings also demonstrate the company's continued existence and adherence to legal requirements, building trust and credibility with investors, customers, and the public. Transparency is especially important for public companies due to their wider shareholder base.

A Key compliance requirements include:
• Filing Form MGT-7 (Annual Return): Details of directors, shareholders, registered office, and company structure.
• Filing Form AOC-4 (Financial Statements): Balance sheet, profit and loss statement, and other financial documents.
• Maintaining proper books of accounts: Accurate records of all financial transactions.
• Getting the accounts audited: Mandatory for all public limited companies.
• Filing Income Tax Return (ITR): Annual tax return filing.
• Holding an Annual General Meeting (AGM): Required every year for shareholder engagement and statutory business.
• Secretarial Audit Report (Form MR-3): Required if paid-up capital or turnover crosses prescribed thresholds.
• Board and Committee Meetings: Regular meetings as per Companies Act and SEBI regulations.
• Additional SEBI and stock exchange compliances for listed companies.

A Penalties for non-compliance can include fines, legal action against the directors, and even the potential striking off of the company. Non-compliance can also negatively impact the company's creditworthiness and reputation, making it difficult to secure loans or business partnerships in the future. It can also lead to reputational damage and loss of trust, particularly impacting stock prices.

A Form MGT-7 is due within 60 days of the Annual General Meeting (AGM).

A Late filing of Form MGT-7 attracts penalties, which increase with the duration of the delay. The penalty is ₹100 per day of delay, so timely filing is crucial.

A Form AOC-4 is due within 30 days of the Annual General Meeting (AGM).

A Form AOC-4 must be digitally signed by the directors of the company.

A Late filing of Form AOC-4 also attracts penalties, similar to Form MGT-7. The penalty is ₹100 per day of delay.

A Yes, it is mandatory for all public limited companies to get their accounts audited.

A The due date for a tax audit is typically September 30th of the following financial year. The ITR filing deadline usually falls on July 31st for companies not requiring a tax audit, and October 31st for those requiring a tax audit.

A Public limited companies file ITR using the applicable ITR form, which is typically ITR-6.

A See the response to "What is the deadline for Public Limited Company tax audit and tax filing?" above.

A An AGM is a yearly meeting of a company's shareholders where they discuss the company's performance, approve financial statements, appoint auditors, and handle other important business. It's a key event for shareholder engagement and corporate governance. For public companies, AGMs can be large events with significant shareholder participation.

A An AGM must be held within 15 months from the date of the previous AGM or within 9 months from the closing of the financial year, whichever is earlier.

A Failure to hold an AGM can result in penalties and legal action against the company and its directors.

A Timely annual filings help public limited companies:
• Maintain a good reputation with the MCA and Stock Exchanges (if listed).
• Avoid penalties and legal consequences.
• Demonstrate financial transparency.
• Ensure smooth business operations.
• Build trust with stakeholders, including investors and the public.

A By adhering to the above compliance requirements, Public Limited Company can operate smoothly, avoid penalties, and maintain good legal standing. For professional assistance, reach out to us on email: info@returnfilings.com or on whatsapp: https://wa.me/919910123091 to ensure all statutory obligations are met on time.

A Yes, all compliances can be done from one place, reach out to us on email: info@returnfilings.com or on whatsapp: https://wa.me/919910123091 to ensure all statutory obligations are met on time.

A Penalties can range from fines for late filing (₹100 per day per form) to legal action against the directors and the potential striking off of the company. For listed companies, non-compliance can also lead to penalties from stock exchanges and impact stock prices.

A Timely filing benefits public limited companies by avoiding penalties, maintaining good standing with the MCA and stock exchanges, ensuring transparency, facilitating business operations, and fostering trust with stakeholders, including shareholders and the investing public.

A A checklist typically includes all the forms and requirements mentioned above, plus additional requirements for listed companies. Consult a professional for a comprehensive checklist tailored to your company's specific situation.

A Costs vary depending on the compliances need to comply.

A Typically includes PAN, Aadhaar of directors, financial statements, auditor's report, secretarial compliance report, etc. Consult a professional for a complete and up-to-date list.

A Yes, filings are done online through the MCA portal and often directly with stock exchanges for listed companies.

A Involves preparing the necessary documents, getting them audited, digitally signing them, and uploading them to the MCA portal and relevant stock exchanges.

A Yes, otherwise may lead to non-compliances which will attract penalties and fines.

A Listed public limited companies have significantly more compliance requirements than unlisted public companies. These include:
• SEBI filings and disclosures
• Compliance with listing regulations
• Maintaining minimum public shareholding
• Corporate governance requirements
• Regular board and committee meetings
• Timely publication of financial results
• Shareholder communication and disclosures

A Common SEBI filings include:
• Quarterly and annual financial results
• Shareholding pattern disclosures
• Corporate governance reports
• Disclosures of material events (e.g., acquisitions, mergers, new product launches)

A Failure to comply with SEBI regulations can lead to penalties, including fines, suspension from trading, and even delisting.

A Public limited companies have a responsibility to communicate regularly with their shareholders. This includes:
• Disclosing financial information
• Providing updates on company performance
• Organizing shareholder meetings
• Responding to shareholder queries

A Related party transactions with directors, key management personnel, or their relatives are subject to strict scrutiny and require board approval and shareholder approval in certain cases. Disclosure requirements are also stringent.

A Dividends are declared by the board of directors and approved by the shareholders at the AGM. They are then paid out to shareholders as per the company's dividend policy.

A Independent directors play a crucial role in ensuring good corporate governance. They provide objective oversight of the company's management and protect the interests of minority shareholders.

A Public limited companies must hold regular board meetings to discuss important business matters. The frequency and procedures for board meetings are governed by the Companies Act.

A Penalties for non-compliance with the Companies Act can range from fines to imprisonment of directors, depending on the severity of the violation.

A The most reliable sources are the MCA website, the SEBI website, and the websites of the respective stock exchanges where the company is listed.

A Listed companies have significantly more compliance requirements due to SEBI regulations.

A You can check the websites of the stock exchanges or the MCA website.

A These include board composition, independent directors, audit committees, and related party transaction policies.

A Listed companies are required to publish quarterly and annual financial results within specified timelines.

A You can find it on the company's website, the MCA website, or the websites of the stock exchanges.

A Equity shares, preference shares, etc.

A This can involve issuing shares, debentures, or other securities.

A Shareholders are entitled to attend AGMs. The company usually sends out notices and attendance slips.

A Rights to vote, receive dividends, inspect records, etc.

A The Companies Act and related rules govern CSR requirements.