A Public Limited Company is defined under Companies law Section 2 (71). Public limited Company offers shares to the public and has Limited liability. A company which is a subsidiary associated with a public company will be deemed a public company for the purposes of this particular Act even when that subsidiary keeps in its articles a private Company.

Benefits of ROC Annual Compliance of Public Limited Company

The benefits of Annual compliance for public limited company under Companies Act 2013 are listed below:

• Increases transparency: ROC compliance for public limited company ensures transparency in operations, financial statements in addition to corporate governance thus promoting trust amongst stakeholders.
• Legal compliance: Following ROC requirements prevents penalties, legal disputes in addition to reputational harm as per the Companies Act, 2013.
• Good corporate governance: ROC compliance facilitates internal controls, record keeping and ethics in organisational and decision-making efficiency.
• Boosting investor confidence: Compliance assures investors the company is truthful through correct financial information and management transparency.
• Capital markets Access: ROC-compliant firms attract investments from domestic and international sources indicating regulatory compliance and transparency.
• Stakeholder interest protection: Compliance enforces the rights of owners, workers, agents and clients while conducting responsible business.
• Ease of business: Compliance standardises administrative processes, improves efficiency, decreases bureaucracy and also encourages good governance.
• Risk mitigation: Compliance helps determine, evaluate and restrict operational risks through appropriate controls and compliance procedures.
• Competitive advantage: ROC-compliant status positions companies as trusted players promoting a positive brand image and attracting top talent, customers and partners.

Avoiding legal consequences: Non-compliance may lead to penalties, legal action and fines, therefore ROC specifications are mandatory to keep legal standing in the marketplace.

Documents Required for Annual Compliance of Public Limited Companies

Given below are the set of documents required for mandatory compliance for public limited company:

List of Annual Compliance for Public Limited Company

Given below is the ROC Compliance Calendar 2024 for Public Limited Company:

The major list of compliance for public limited company in India are as follows:

• Annual Return on Form MGT-7: This form ought to be delivered to the appropriate Registrar of Companies within sixty days of the AGM. It gives updated details of shareholders and directors.

• Form AOC-4 Financial Statements: This particular form must be posted together with the RoC no later than 30 days before the AGM. This system offers standardised digital reporting for better transparency and accessibility of financial data.

• Form ADT-1: The company's auditor must be appointed within thirty days of the day of incorporation in Form ADT 1, with Board approval.

• For form MGT-8: Public companies having paid-up share capital of Rs. Ten crore or more or an annual turnover Rs. Or 50 crore plus must be certified by a practising Company Secretary.

• DIR-3 KYC: All directors should file Form DIR 3 KYC to complete Know Your Customer (KYC) verification with the RoC. Existing directors should verify the OTP delivered by email and mobile and new directors should submit this form.

• Form DPT-3: The Return of Deposit will be filed with the RoC on Form DPT 3.

• Form MBP-1: At the very first board meeting, each director shall reveal any interest in any business, firm or other organisation (including shareholdings) by submitting Form MBP 1.

• Income Tax Returns: Public limited companies should file Income Tax Returns to Income Tax Department before 30th October. Tax audit is mandatory if the yearly turnover exceeds Rs. 1 crore.

• Secretarial Audit Report In Form MR-3: Any public limited company having paid up capital exceeding Rs. Fifty crore or their yearly turnover is Rs. 250 crores.

• Conformity with SEBI Regulations: Public limited companies must carry out all the yearly compliances under SEBI Regulations, including the Listing laws of 2015, particularly those listed on stock exchanges.

• Form MGT-14: The adoption of financials and Director's Report has to be filed within thirty days of the board meeting and a copy of the board meeting minutes.

Form MGT-15: This form presents an exclusive report of the company's AGM.

Event Based Annual Compliances

These are obligations that a (listed) public limited company should fulfil during the year. They include internal company administration, corporate growth initiatives, external business management and any contingent or unexpected activities.

Annual Compliances under various other Applicable Laws 

Other laws imposed on public limited companies are in addition to company-specific requirements. They include Labor & Employment, Corporate and Commercial, Excise along with Custom, RBI (Reserve Bank of India), FEMA (Foreign Exchange Management Act), Intellectual Property, Pollution Control, PF (Provident Fund) & ESI (Employee State Insurance) Regulations, Maritime and Admiralty laws etc.

Procedure of Annual Compliance for Public Limited Company

ROC annual compliance of public limited company can be done by following steps:

Consequences of Non-compliance with Annual Compliance for Public Limited Company

Given below are the main consequences of not following the annual compliance for public limited company:

Why Choose StartupFino for ROC Annual Compliance for Public Limited Company?

By completing ROC annual compliance for public limited company, these companies show their adherence to transparency, accountability and good corporate governance. Compliance decreases legal and financial risks and creates trust between owners, other stakeholders and investors. Public companies should prioritise these compliances and also be informed about regulatory changes for long-term success and smooth operations.

StartupFino is a Company offering services for ROC Annual Compliance of Public Limited Company. From advice during the first phase to compliance with all the pertinent requirements and compliances, we can help you.