Public Limited Company Compliance

A Public Limited Company Compliance (PLC) must follow to some legal and regulatory compliance requirements to function transparently and responsibly. These include responsibilities related to corporate governance, financial reporting and shareholder rights. PLCs must prepare and file audited annual financial statements to get a clear picture of their financial performance. All rules laid down by the relevant authorities, including securities laws and stock exchange listing rules, must be followed to ensure that all material information is revealed to the public, thus maintaining transparency and market integrity. The company must have a structured board of directors and an audit committee to supervise its operations and safeguard the interests of its shareholders.

In addition, the PLCs must confirm compliance with corporate laws governing the rights of shareholders, including voting and distribution of dividends. These compliance actions are designed to guard investors and make sure that the company operates in accordance with the established legal framework. Failure to meet these conditions may result in any legal consequences, fines or damage to reputation. However, PLCs must strictly comply with regulatory guidelines to maintain their public listing and preserve investor confidence.

When it comes to running a business, compliance is of utmost importance. It ensures that your company operates within legal boundaries and upholds ethical standards. For public limited companies, compliance becomes even more crucial due to the additional regulations they must adhere to. In this section, we will explore the benefits of public limited company compliance and why it should be a top priority for any business in this category.

Compliance with the regulations of a public limited company benefits both the company and the stakeholders. These benefits make an important contribution to business growth and sustainability.

• Legal Protection: By adhering to regulations, a PLC confirms that it operates within the legal framework, reducing the risk of legal disputes, fines, and penalties. This protection saves the company from potential lawsuits and regulatory challenges.
• Credibility: When a PLC complies with legal and financial reporting standards, it builds trust among investors, creditors, and the public. This increases the company's reputation, making it more attractive to potential business partners and shareholders.
• Investor Confidence: Regular and transparent financial reporting increases investor confidence. As long as stakeholders can easily obtain accurate and timely information about the company's performance, they are more likely to invest, since the company is ethical and responsible.
• Financial Integrity: Compliance ensures that the company maintains financial integrity and undergo regular audits. This helps prevent financial mismanagement, fraud and discrepancies by confirming that the company's financial statements are accurate and reliable.
• Effective Governance: Adherence to corporate governance rules promotes accountability and fairness in decision making. It helps safeguard the rights of shareholders, promotes ethical business practices and confirms that the interests of all stakeholders are considered.
• Risk Mitigation: By following regulatory guidelines, a PLC can better identify and manage potential risks, comprising operational, financial, and market-related risks. Compliance confirms that the company is fully prepared for unexpected challenges, minimizing the likelihood of costly setbacks or legal issues.

Public Limited Company Annual compliance consists of below activities:

• Maintain Accounts and Prepare financial statements: - Mandatory at the end of each financial year.
• Annual returns: - Once a year before 30th September. Annual return consists of information and documents that include:

1. Filing of Financial Statements with ROC
2. Shareholding structure of the Company
3. Registered Office Address
4. Maintenance of Registers
5. Compliance Certificate from CS
6. Register of Member
7. Company Management
8. Shares and Debentures details
9. Debt and charge details
10. Changes in Directorship
11. Details of transfers of securities / share
12. Shareholding structure of the Company

• Income tax return: - Each Year on or before 30th of September. 
• Annual General Meeting: - Mandatory once a year.
• Board meetings: - 4 meetings in a year, at least one every quarter.
• Director reports: - Mandatory once a year.
• Annual Filing of Forms: - Mandatory once a year.
• Yearly Forms by Directors: - Mandatory once a year.

The documents required for Public Limited Company are as follows- 

• Incorporation Certificate of the Public Limited Company
• PAN Card
• Certificate of Incorporation of the Public Limited Company
• Financial Statements of the Public Limited Company
• An independent auditor must audit Financial Statements
• Audit Report & Board Report of the Public Limited Company
• Independent auditor’s report and Board report must be concerned
• DSC of Director (Digital Signature Certificate of the Directors)
• Accurate and active DSC of one of the directors must be provided and presented

Step 1: Corpseed received your request for Public Limited Company compliances

Step 2: We will assign a dedicated resource who is professionally skilled in company compliances, will help you to maintain the compliance for your Public Limited Company. You can get in touch with assigned resource at any point of time for consultation and assistance regarding compliances throughout your journey with Corpseed. 

Step 3: Our resource will help your Public Limited Company to maintain accounts and prepare financial statement for each year.

Step 4: Our resource will collect all the required documents / information and will complete all below mentioned compliance activities for your Public Limited Company.

• Maintain Accounts and Prepare financial statements
• Annual returns
• Annual General Meeting
• Board meetings
• Director reports
• Annual Filing of Forms
• Yearly Forms by Directors 

Step 5: Our resource will collect all the required documents / information and file your Public Limited Company income tax return with ROC (Registrar of Companies) along with the mandatory documents after getting final confirmation from your finance team if required.

Step 6: Our resource will help your Company in accounts audit.

Step 7: Our resource will draft minutes of meetings, notices and will also maintain statutory register.

Step 8: Above 7 steps complete your Public Limited Company compliance under the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

Corpseed is one of the top consulting firms, offering comprehensive assistance to businesses in ensuring full compliance with public limited company regulations in India. We guide companies through the complex process of legal registration, documentation, and compliance, ensuring timely and efficient operations.

• Expert Guidance: Corpseed provides expert advice on corporate governance, compliance requirements, and legal documentation, ensuring your company adheres to all regulations. 
• Complete Solutions: We offer end-to-end services, from company incorporation to ongoing compliance, making sure all legal and financial requirements are met. 
• Timely Filing: Corpseed ensures that all statutory filings are done accurately and within deadlines, minimizing the risk of penalties. 
• Auditing Support: We assist with the auditing process, ensuring transparency and accuracy in your company’s financial statements.