Public Limited Company

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Public Limited Company

Public Limited Companies may be described as those companies who have offered stocks to the general public in shares. The people who buy these shares thus have limited liability towards the company in question.

For a company to be registered as a Public Limited Company or a PLC it has to have a minimum of 3 and a maximum of 50 directors, 7 shareholders and the Paid-Up Capital for the company should at least be Rs 5 lakh. In short, a PLC can have all the benefits of a Private Limited Company.

Furthermore, it can also have unlimited number of members, more transparent way of working as well as a convenient process of transfer of shareholding.

The Advantages of a Public Limited Company

Different Methods of Funding

Public Companies can choose to raise funds from either Financial Institutions or individuals as per convenience. The ways may vary from debentures, equity shareholding or preference shareholding.

Transferability of Shares

As far as transfer of shares is concerned, it is very easy with Public Limited Companies. The shares can be transferred without many hassles to any other legal entity, be it within India or abroad. Business Perpetuity can also be ensured in case the Directorship of the company needs to be changed.

Limited Liability

The shareholders of these companies enjoy Limited Liability Protection. This essentially means that in case of any sudden and unexpected case of liability, it will remain limited to the company. It will not affect the shareholders.

Individual Legal Entity

In this case, these are considered separate entities from shareholders. Along with the factor of perpetual existence, it also has its unique PAN, approvals, Bank Accounts, Licenses, Assets and Liabilities.

our professional service Includes:

Our Public Limited Company Registration Package Includes

  • DIN FOR THREE DIRECTORS
  • DSC FOR THREE DIRECTORS
  • NAME SEARCH & APPROVAL
  • DRAFTING & FILING OF AOA & MOA
  • REGISTRATION FEES FOR ROC
  • STAMP DUTY FEES
  • CERTIFICATE OF INCORPORATION
  • PAN & TAN OF THE COMPANY

“Liberty is the right to do what the law permits.”

Montesquieu

Public Limited Company Registration Process:

All the partners and directors involved with the company need to apply for a Digital Signature (DSC) and a DPIN.
The next step is getting the company’s name approved by the MCA. Two different names have to be submitted for consideration out of which one will be approved by the MCA. As a rule, the names submitted by you should not be used by any other company and they must suggest the business your company is into.
After the approval for the company name, you need to draft the MOA (short for Memorandum of Association) and AOA (Articles of Associate) and then file both the documents with the MCA.
After filing the MOA and AOA documents with the MCA, your company will be registered as a Public Limited Company within 15-20 days. You’ll be provided with an Incorporation Certificate which will act as proof of the creation and registration of your company. The CIN number of your company will also be mentioned in this certificate.
The final step that remains for completing your company registration is applying for PAN and TAN. Both the PAN and TAN are ready and received within 7 working days from the request submission. After getting the PAN and TAN, these documents may be submitted along with the Incorporation Certificate, MOA and AOA to open a company bank account.
  • Photograph of the directors (passport size)
  • Copy of PAN Card of directors
  • Copy of Aadhaar Card/ Voter Identity Card/ Driving License/ Passport of directors
  • Copy of electricity bill/ water bill/telephone bill of business place (latest by 2 months)
  • Copy of bank statement/ electricity bill of directors for residence proof (latest by 2 months)
  • Copy of Notarized Rent agreement and NOC from the owner(If rented property)
  • Copy of Sale Deed/Property papers (If owned property)
  • Proof of Nationality for NRI director (Passport)

Documents required for the Registration of a Public Limited Company

Information Required for the Registration of a Public Limited Company

  • Proposed Name of the Company
  • Proposed Capital of the Company
  • Amount of capital to be held as share and the holding ratio.
  • Educational Qualification of all the people involved
  • State in which the Company is to be Registered
  • Contact details and email id of the directors
  • Landline Number, if any
  • Place of Birth of all the directors and shareholders
  • Proposed business of the company in brief
  • No. of LLPs or Companies in which he/she is a partner or director

Minimum Requirements for the Registration of a Public Limited Company

01

Minimum Shareholders should be at least SEVEN

02

Minimum Directors should be THREE

03

DIN for all the Directors

04

Paid-Up Capital > ₹5,00,000

FAQs

Each Public Limited Company must have a minimum of three Directors and seven shareholders.
The person should be a major by age. Any individual, whether an Indian or an NRI, can become a Director.
There is no need to be present at any office for a Public Limited Company incorporation. You can send us soft copies of all the documents. You might need to courier hard copies for some of the documents.
Yes, an NRI or Foreign National can become a Director for a Public Limited Company. However, at least one of the three Directors needs to be a Resident of India.
There is no hidden payment. Our invoice will show the charge inclusive of all factors.

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Terminological Glossary

DSC stands for digital signature. It is a form of an online signature that is used during the online registration filing process.
It is short for the director’s PIN which is a sequence of numbers assigned to the director by the MCA.
It stands for Corporate Identity Number which is a 21-digit code given to companies registered in India.
Brief for Memorandum of Association, it contains all the clauses of the company for establishing its identity, working and target.  The various clauses to be included in MoA as per the Companies Act 2013 are:
  1. Name Clause
  2. Situation Clause
  3. Object Clause
  4. Liability Clause
  5. Object Clause
  6. Subscription Clause
It stands for Articles of Association. This document defines the internal working, rights, duties and management procedure of the company. Its content includes the following details:
  1. Company Shares
  2. Rights and Duties of Directors
  3. Removal of Directors
  4. Meeting Details
  5. Company Dissolution Process