What is Public Limited Company?
Public Limited Companies are companies whose shares are traded in stock market or issues fixed deposits. For Public Limited Company Registration, the company must have minimum 3 Directors, 7 Shareholders and Maximum 50 Directors and need Rs 5 Lakhs of Paid up Capital. A Public limited company have all the advantages of Private Limited Company and the ability to have any number of members, ease in transfer of shareholding and more transparency. Public Limited Registration is done through compsec.
ADVANTAGES OF PUBLIC LIMITED COMPANY
- Ease to issue share to public
- Reliability in the worth of shares
- Able to implement the policy of distribution of workload
- Centralization system will help in building a team work
- Able to raise large capital
- Easy to have business growth while using funds
Besides these there are many more benefits that one can reap while registering the company as public limited. Capital raised from the initial public is a kind of safe source of capital which is permanent and no need to pay interest or repayable like debt. It will be easy for the company to grow its business while using the same raised funds where the roles and obligations of management if defined and liability is limited. Thus, there are some regulations and guidelines that need to follow for public limited company registration in India.
Steps and Process for Public Ltd. Company Registration
There are various prescribed rules and regulations have been stated for public limited company formation and incorporation in India under the New Companies Act, 2013. It is mandatory for one to follow each and every step while applying for the certification of the same company. Here below we bring you with detail steps to register a public limited company in India.
- Require DSC – digital signature certificate for any one of the directors that can be apply while submitting the address proof and identity proof with self attested of the same director.
- Get DIN number – Director Identification Number that can be get while submitting directors personal details with attested copy to the concern DIN authority.
- An application is to be made for pre-name. Where there is need to list atleast 6 names in priority wise.
- An application for name availability is to be made comprised of 6 names and main objective clause; what a company pursue after incorporation.
- Representing the application to Registrar of Company along with the necessary documents like Memorandum and Articles of Association, duly filled Form DIR – 12, Form INC – 22, and Form INC – 7.
- In final process, get follow with ROC while paying registration fees; and make changes if require to MOA / AOA in other legal documents of the proposed company.
- Finally, after getting approval from all these prescribed steps; get apply for the certificate of commencent of Business and company incorporation and formation.
The amendments and reinforcements in respect of company acts and laws have been taken place at regular interval of time by the concern authority; thus, it is quite beneficial to have deep knowledge about the New Companies Act 2013 where you can contact us for the same.
What are the Minimum Requirements of Public Company Registration?
- Minimum 7 Shareholders
- Minimum 3 Directors
- The directors and shareholders can be same person
- One of the Directors must be Indian Resident
- Minimum Authorized Share Capital Rs. 500,000 (INR Five Lac)
- DIN (Director Identification Number) for all Directors
- DSC (Digital Signature Certificate) for two of the Directors
What are the documents required for Company Registration?
Click Get Quotation and fill the details, you will receive required documents list & quotation in few seconds in your mailbox. No charges for requirement list and Quotation.