30 April 2018
A PLC business model is a preferred 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.
FY: Financial year i.e. from 1st April of one year to 31st March of the consequent year
| Requirement | Explanation | Timeline |
| Registered Office | PLC must have registered office capable of receiving communication | Within 30 days of incorporation |
| Company Merchandise | All business letters, envelopes, invoices, etc. should have: Full name of PLC Corporate Identification Number [CIN] Registered office address Contact details – telephone number & email id |
As soon as the PLC is incorporated |
| 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 at least 4 meetings and the maximum gap between two meetings shall not be more than 120 days |
60 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. |
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| Auditor Appointment | - The first appointed auditor holds office until the first AGM - The appointed auditor shall file Form ADT-1 |
Within 30 days from the date of Incorporation |
| Director Disclosures | Declaration of interest in other companies in Form MBP-1 and disclosure of non-disqualification by all Directors in Form DIR-8 | First BM of every FY |
| Financials | - Annual returns in Form MGT-7 - Audited Financial Within 60 days from AGM - Financial Statements including Balance Sheet and P&L |
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