Compliances Applicable to Unlisted Public Companies

Unlisted public companies are the companies which are not listed on any stock exchange, they fall under the range of compliance requirements under several regulations. These are structed to ensure the transparency, accountability, and protection of shareholder of the company. Through this blog we are supposed to explore compliances that are applicable to unlisted public companies in India and these companies must comply with them.

Companies Act 2013 is the primary regulation that operates and governs all the companies in India, it includes requirements of annual filings, maintenance of books of account, statutory meetings and cooperate governance norm. Further we will be discussing all the compliances applicable to the unlisted companies.

List of Compliances for Unlisted Public Companies

1. Section 10A

• Compliance: - Declaration of starting of business.
• Statutory timeline: - Within the 180 days from the incorporation date.
• Due Date: - Within the 180 days from the incorporation date.
• Required Form: - INC-20A

2. Section 86 (6)

• Compliance: - Return to registrar regarding the declaration received under the section 89.
• Statutory timeline: - Within the 30 days from the receipt of the declaration by the company.
• Due Date: - Within the 30 days from the receipt of the declaration by the company.
• Required Form: - MGT-6

3. Section 90 (4)

• Compliance: - Return to registrar regarding declaration received under section 90.
• Statutory timeline: - Within the 30 days from the receipt of the declaration by the company.
• Due Date: - Within the 30 days from the receipt of the declaration by the company.
• Required Form: -BEN-2

4. Rule 12A of Companies (Appointment and Qualification of Directors) Rules 2014

• Compliance: - Directors KYC by all the individuals who hold DIN
• Statutory timeline: - Within 6 months from the end of the financial year.
• Due Date: - 30th of September
• Required Form: - DIR-3 KYC

5. Section 139

• Compliance: - Notice to registrar by the company for appointment of the auditor
• Statutory timeline: - Within 15 days of the appointment of the auditor
• Due Date: - Within 15 days of the appointment of the auditor
• Required Form: - ADT-1

6. Section 139 (6)

• Compliance: - Appointment of first statutory auditor
• Statutory timeline: - Appoint Within 30 days from the incorporation date
• Due Date: - Appoint Within 30 days from the incorporation date
• Required Form: - NA

7. Section 140

• Compliance: - Notice of registration by the auditor
• Statutory timeline: - Within 30 days from the date of resignation
• Due Date: - Appoint Within 30 days from the incorporation date
• Required Form: - ADT-3

8. Section 117

• Compliance: - Filing of the resolutions and agreements to the Registrar
• Statutory timeline: - Within 30 days of the passing of the resolution/ entering into agreement
• Due Date: - Within 30 days of the passing of the resolution/ entering into agreement
• Required Form: - MGT-14

9. Section 179 (3) (g)

• Compliance: - Adoption of Financials and Director Report
• Statutory timeline: - Within 30 days of the Board Meeting approving the Financial Statement and Board Report
• Due Date: - Within 30 days of the Board Meeting approving the Financial Statement
• Required Form: - MGT- 14

10. Section 12

• Compliance: - Notice of Change of the Situation of Registered Office
• Statutory timeline: - Within 30 days of the change of the address
• Due Date: - Within 30 days of the change of the address
• Required Form: - INC-22

11. Rule 9A of Companies (Prospectus and Allotment of Securities) Rules,2014

• Compliance: - Reconciliation of Share Capital Audit Report (Half-Yearly
• Statutory timeline: - Within 60 days from the conclusion of each half year.
• Due Date: - 30th May (For Oct-Mar) 29th November (For April-Sep
• Required Form: - PAS-6

12. Order dated 22 January 2019 issued under Section 405

• Compliance: - Return in respect of outstanding payments to Micro or Small Enterprise
• Statutory timeline: - Within 1 month from the conclusion of each half year.
• Due Date: - 31st October (For April-Sep), 30th April (For Oct-Mar)
• Required Form: - MSME-1

13. Rule 5 (8) of IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016

• Compliance: - Statement of unclaimed and unpaid amounts as specified in section 125.
• Statutory timeline: - Within a period of 60 days after the holding of AGM
• Due Date: - Within a period of 60 days after the holding of AGM
• Required Form: - IEPF-2

14. Rule 16 of Companies (Acceptance of Deposits) Rules, 2014

• Compliance: - Return of deposit or particulars of transaction not considered as deposit or both
• Statutory timeline: - On or before 30th June of every year
• Due Date: - 30th June 
• Required Form: - DPT-3

15. Section 137

• Compliance: - Filing of annual accounts
• Statutory timeline: - 30 days from the date of the AGM.
• Due Date: - Within 30 days from the date of AGM
• Required Form: - AOC-4/ AOC-4 CFS/AOC4 XBRL

16. Section 92

• Compliance: - Filing of annual return
• Statutory timeline: - To be filed within 60 days from the conclusion of AGM.
• Due Date: - Within 60 days from the date of the AGM
• Required Form: - from the date of the AGM E - Form MGT – 7

17. Section 184

• Compliance: - Disclosure of Interest by Director
• Statutory timeline: - 1st Board Meeting and whenever there is a change in the disclosures already made.
• Due Date: - 1st Board Meeting and whenever there is a change in the disclosures already made
• Required Form: - MBP-1

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