The listed company has to comply with the provisions of SEBI and the companies act, 2013. Following are the provisions that need to have met:
A company can close the register of members, debenture holders, or any other security holder during the year for not more than 45 days. Register can't be closed for more than 30 days at one time.
Annual return has to be certified by Company Secretary in practice stating that yearly return discloses the facts are correct & the company has fulfilled all the provisions applicable to the company. This is required to be done by the following companies:
Every listed company has to file a return in form MGT-10 for every change in shareholding pattern of 2% or more in value or volume. Such change has to be filed within 15 days of the date of the change.
every listed company shall provide the facility to its shareholders to exercise their voting rights in the general meeting by electronic means if it has 1000 or more shareholders.
Every listed company with 1000 or more shareholders, debenture holders, or any security holders shall maintain its records in an electronic mode in a readable format. It can't be tampered with or changed after affixing the DSC of an authorized person. Record includes:
Every listed company is required to prepare a report on its annual general meeting stating that the meeting is held, conducted &convened in proper order and as per the provisions of this act. A message must be filed to ROC within 30 days of AGM in form MGT-15.
A listed company needs to disclose in its director report the:
Every company can dispatch its financial statements in the following ways:
A financial statement must be sent through electronic mail to those members whose shareholding is dematerialised as their email id is registered with the depositary.
such as speed post/ courier/ or hand delivery.
It is also mandatory for the company to place its financial statement online on its website.
Every listed company must have an internal auditor in its place who shall be a qualified Chartered Accountant, Cost Accountant, or Company Secretary. The audit committee fixes their remuneration, scope of work, roles & responsibilities, and periodic and timelines for conducting an internal audit.
every listed company shall have an individual auditor for only one term of 5 successive years and an audit firm as its auditor for two terms of five consecutive years.
following class of companies has to appoint at least one women director mandatorily:
The independent director has to declare his independence on the first board meeting he attends as an independent director. If any change in its autonomy throughout the year, he has to say the same on the very first board meeting he follows after such change.
A listed company has to compulsorily appoint the small shareholder's director when it receives the notice from lower of these two:
following classes of companies has to constitute an audit committee:
Every listed company has to constitute a nomination & remuneration committee with at least three non-executive directors, out of which there shall be the majority of independent directors.
Every listed company with more than 1000 shareholders has to appoint this committee necessarily with non-executive directors & chairpersons.
Every listed and public company with paid-up share capital of INR 10 Crore has to appoint mandatorily whole-time key managerial personnel.
Every listed company shall do a secretarial audit by a whole-time company secretary in practice. PCS gives its report in form MR-3, which must be annexed with the board report. Following classes of companies shall have to comply with this audit provision: