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.
-
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
-

Disclaimer:
The content of this article is for information purpose only and does not constitute advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer to relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up. The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that the Author / Treelife Consulting is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof.

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