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Public Limited Company has been defined under Section 2(71) of the Companies law. Public Limited Company offers shares to the general public and has limited liability.

 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 a private company in its articles.

 Classification:

 Listed Company: A Listed Company is a company as defined in Section 2(52) of the Companies Act, 2013 It is a company the shares of which are listed on the recognized stock exchange. People can buy or sell the shares of Listed Company through the platform of on the recognized stock exchange. It is recognize as listed Company due to the reason that it get its capital after getting listed on recognized stock exchange through IPO.

 Unlisted Company: An unlisted Company has nowhere defined in Companies Act, 2013. It can be a Public Limited Company or can be Private Limited Company. As the name suggest no shares of the unlisted companies are available to the general public for investment purposes

 Annual Compliances for Public Company

 Holding Board Meeting

This is the first compliance that needs to be done by Public Limited Company. Meeting among the board members, the first meeting of the Board shall be conducted within 30 days by Public Limited Company. Thereafter, atleast 4 Board meetings to be conducted every year with a gap of 120 days between each meeting of the Board. This means that every by Public Limited Company shall have a minimum of 4 board meetings every year and gap must not be more than 120 days between subsequent Board meeting or every quarter one meeting. Records of these Board meeting shall also be created which is known as minute of the meeting. For this, registers are to be maintained by the Company. It can also be prepared digitally. Here the agenda of the meeting, attendance of members and the discussion are recorded.

 Appointment of the Auditor

 The auditor for the Company shall be appointed by the Board of Directors within a period of 30 (Thirty) days from the Date of incorporation of the Company. The appointment shall be filed in ADT-1. In case of failure of the Board to appoint the first auditor within the said period of 30 days, the Board shall inform the members of the Company who shall appoint an auditor within a period of 90 days. The appointment can only be done in an extraordinary general meeting.

 Disclosure of Interest by Directors

 It is to be noted that every director shall in its first board meeting discloses about the interest in any company, firm or other AOI (including any shareholding interest). The disclosure of interest shall be filed every year, if there is any change in the interest, it is to be filed along with the list of relatives as well. This disclosure of interest shall be filed in MBP 1 form shall be submitted with the Company.

 Declaration of Commencement of Business Report

 this Declaration of Commencement of Business shall be filed in Form 20A. It is a mandatory compliance and needs to be filed with due time lines as prescribed below. The Form 20A shall be certify by the professional like CA CS or CMA

 Due date for the first time filing of Form 20A                -----     The form must be filed within 180 days From the date of incorporation

 Note: Failure to comply with annual compliance may lead to the removal of the company’s name from the Register of Companies. 

Holding Annual General Meeting

 The Public Limited Company shall hold a general meeting every year. It is mandatory to conduct it on or before 30th September every year. In case of first AGM shall be held within 9 months of closing of Financial Year. It is to be noted that the AGM shall be conducted within office hour ie., 9 AM to 6PM. The day must not be a public holiday and a clear notice of 21 days shall be given to the members. The Approval of accounts, appointment/re-appointment of auditors, Remuneration of directors are some of the agendas of AGM. 

Filing of Annual Return

 RoC Filing is nothing but submission of annual accounts and financials prepared by the Company. Here, list of shareholders, directors, interest, details of other things, board reports and other stuff required to be furnished by the Company with RoC.