Quick Checklist
- Photograph of all the Directors
- PAN Card of all the Directors
- ID Proof of all the Directors (Driving License/Passport/Voter ID)
- Electricity Bill or any other utility bill for the address proof of the Registered Office
Public Limited Company
All you need to know
The Public limited company in India is a voluntary association of members which has a separate legal existence and the liability of whose members is limited. A Public Limited Company can either be an unlisted Company or listed Company on the Stock Exchange. Public Limited company also enjoys wide options to raise funds through bank loans, the general public, and Institutional investors.
A public limited company has many advantages over Private Limited Company and the ability to have any number of members, ease in transfer of shareholding and more transparency makes it popular amongst foreign investors. If you are planning to raise funds from the public through Initial Public Offer (IPO) then Start your business by incorporating Public Limited Company.
A public limited company is usually established to generate capital from external sources, i.e. the general public for starting a business, business expansion, technological advancement, global expansion, etc.
But a PLC is suitable to the large organizations which have a comprehensive perspective and higher growth possibilities, rather than a small shop located next door.
Features that make a Public Limited Company Different from Private Limited Company:
- Shares offered by a public Ltd. Co. are easily transferable to any other person, such that it merely requires filing and signing of share transfer form to transfer the shares.
- A Public Ltd. Co. is the highest corporate structure to start with.
- In Public Limited Company shareholders have a claim to part of the company’s assets and profits.
- Public Limited Company can have any number of members.
- Shares are easily transferable in Public Limited Company.
Suggested Read- How Can a Private Limited Company be converted in to Public Limited Company?
info@caagrawalkanhere.com is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. Incorporating a Public Limited Company is easy, seamless, cheapest and quickest with info@caagrawalkanhere.com! Apart from a Public Limited Company, info@caagrawalkanhere.com also helps entrepreneurs with Private Limited Company Registration, Nidhi Company Registration, Partnership Registration, HUF, LLP Incorporation and One Person Company registration easily. You may get in touch with caagrawalkanhere compliance manager on 07552761432 or email info@info@caagrawalkanhere.com for free query.
Why you should form a Public Limited Company?
Points to make your decision easy
Separate Legal Entity
Public Limited Company enjoys the benefit of Separate Legal Identity in the eyes of law which clearly states that assets and liabilities of the business are not the assets and liabilities of the Directors.
Builds Credibility
All the information relating to the company are made available in a public database. This feature makes it easy to authenticate the existence of the business that ultimately helps in improving business credibility.
Easy Transfer
Shares of the public limited company are purchased and sold in a stock exchange market. They are freely transferable between the members and people trading in the stock exchange.
Perpetual succession
The company keeps on existing in the eyes of law even in the case of death, insolvency, the bankruptcy of any of its members and the succession would be valid.
Access to Finance
A Public Ltd. Co. can easily obtain funding from Banks and other financial institutions since they are more willing to extend financing to this type of company.
Scope for expansion
There is unlimited scope for growth and expansion of business in Public Limited Company and New shares can be used to raise additional capital in Public Limited Company.
Documents Required for Public Limited Company
Specific Requirements
A Company must have a registered office in India. Documents like bank statement or electricity bill should not be older than 2 months. Along with that utility bill, rent agreement or sale deed and a No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of a company must be submitted.
How to Incorporate Public Limited Company
5 Easy Steps
1
Obtain DSC
2
Reserve Your Company Name
3
Submission of MOA & AOA
4
Get Incorporation Certificate
5
Get Company’s PAN & TAN
Fill a Simple Checklist
A Compliance Manager from CA Agrawal Kanhere will get in touch with you to obtain your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for processing. Our expert team will verify documents and proceed with registration formalities. All throughout the process, your dedicated Compliance Manager will keep you updated on the progress of Company Registration.
Name Approval
Once you submit your documents along with Checklist, we will proceed with the application of your Digital Signature and subsequently name approval. You may give up to three names of your choice. Names should be unique and suggestive of Company’s business. We will proceed with name approval through a form called “RUN” as prescribed by MCA. It usually takes 1-2 days to get the name approved.
Company Registration
Once the name is approved, we will draft MOA (Memorandum of association) and AOA (Articles of association). We will file incorporation documents with MCA through a form called “SPICe” along with subscription statement. Usually, MCA approves the forms within 2-3 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
FAQs On Public Limited Company
Get answers to all your queries
Yes, an NRI or Foreign National can be a Director in a Public Ltd Co. in India. For becoming a director, besides the basic requirement of being a sensible adult, such a person must possess the DIN issued by MCA. However, at least one Director on the Board of Directors must be a Resident of India.
In India, You can set your Public Ltd. Co. anywhere but there are minimum 7 shareholders and three Directors required. The Directors can also be shareholders.
No, unlike a Private Limited Company a Public Limited company has no limits on a maximum number of shareholders.
When the total capital of a company is divided into shares, is called as share capital. The share capital is the total amount of capital collected from their shareholders for the purpose of achieving the objectives of the company.
A Public Limited Company must have a minimum of three directors.
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