Compliance for Public and Listed Companies
Listing brings continuing obligations to shareholders, the stock exchange and SEBI. We help public and listed companies keep their filings, disclosures and governance on schedule.
Continuing obligations of a listed company
The main obligations arise under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, together with the Companies Act and other SEBI regulations. They include:
- Financial results – quarterly results, generally within 45 days of the quarter end, and annual results, generally within 60 days of the year end, with the limited review or audit report, and the related XBRL filing.
- Periodic filings – shareholding pattern, corporate governance report, investor grievance report and other statements, generally within 21 days of each quarter end.
- Event-based disclosures – material events and information, which must generally be disclosed to the exchange promptly, along with prior intimation of board meetings.
- Insider trading and takeover regulations – the trading window, the structured digital database and the required disclosures.
- Related-party transactions – policy, audit committee approval and disclosures.
- Annual report and AGM – the statutory content, the notice and the related filings.
- Share capital and depository matters – reconciliation of share capital and other statements.
Due dates and formats are revised from time to time by SEBI and the exchanges, so we work from a compliance calendar that we keep updated.
Public companies that are not yet listed
A public company that is not listed still has to comply with the additional provisions of the Companies Act, for example on the board and committees, independent directors where applicable, related-party transactions, and annual filings with the Registrar of Companies. See ROC annual compliance.
How we support you
- A compliance calendar for the board, the company secretary and the finance team, with reminders.
- Preparation and review of the financial statements and the financial information for results and disclosures, and coordination with the auditors.
- Board and audit committee packs, MIS and internal financial controls.
- Internal audit and review of processes against the listing regulations.
- Clean-up of past compliance gaps and preparation of responses to exchange queries.
We are Chartered Accountants. Where the law requires a Company Secretary or a practising Company Secretary, for example for a secretarial audit, we coordinate with one. Where we are not the statutory auditor, we work alongside the auditor appointed by the company.
Experience from the boardroom
Our partner, CA Akshay Gupta, serves as an Independent Director for several listed companies and is a member of their Audit Committees and other board committees. This first-hand experience of how listed-company boards and audit committees work informs the way we structure compliance and reporting for our clients.
Frequently asked questions
What happens if a listed company misses a filing?
The exchanges levy fines under SEBI’s prescribed procedure for non-compliance, and continued default can lead to stronger action. Filing on time, and correcting any lapse early, is far less costly.
Do you work with SME-listed companies?
Yes. Companies listed on the SME platforms have the same continuing obligations in principle, with some relaxations, and we support them.
Can you support a company that is preparing to list?
Are you Company Secretaries?
No. We are Chartered Accountants. Work that is reserved for Company Secretaries is coordinated with a practising Company Secretary.
This page gives general information about compliance for public and listed companies. Regulations, due dates and formats are set by SEBI, the stock exchanges and the Ministry of Corporate Affairs and change from time to time. It is not legal advice.