A PLC business model is a preferred way of a common way of conducting business in India mainly because it restricts liability, commands and funding avenues, etc. However, it is also heavily regulated as the Government acts as a custodian of the benefits of the shareholders.
|Registered Office||PLC must have registered office capable of receiving communication||-|
|Company Merchandise||All business letters, envelopes, invoices, etc. should have:
|MOA||The name of the nominee should be included in the MOA||-|
|Board Meetings (BM)||First: To record PLC's incorporation certificate, seal, directors’ disclosures, etc.
Other BMs: A Company is required to conduct atleast 4 meetings and the maximum gap between two meetings shall not be more than 120 days.
|Annual General Meetings (AGM)||First AGM must be held within 9 months from the close of the first financial year (FY)
Subsequent AGMs: Within 6 months from the closing of the financial year, provided that the gap between two AGM’s shall not be more than 15 months.
||Within 30 days from the date of Incorporation|
|Director Disclosures||Declaration of interest in other companiesin Form MBP-1 and disclosure of non-disqualification by all Directors in Form DIR-8||First BM of every FY|
||Within 30 days from AGM|