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Public Limited Company

Public Ltd Company Registration in India

A public limited company, also known as a PLC, is a type of business entity that offers shares to the public and has limited liability. This means that the shareholders' liability is limited to the amount they have invested in the company. PLCs are governed by specific regulations and are required to publish their financial performance and other relevant information to the public. They often have a larger capital base compared to private limited companies, allowing them to undertake more extensive business operations and attract investment from a wide range of investors. PLCs are commonly found in sectors such as finance, telecommunications, and manufacturing, and they play a significant role in the economy due to their ability to raise capital and drive growth.

Public Ltd Company Registration in India

A Public Limited Company benefits from limited liabilities and the ability to sell its shares to the general public to raise funds. It is intended for large firms that require a lot of cash and is registered under the Companies Act of 2013. Public limited corporations can list on the stock exchange and issue shares to the general public in the form of Initial Public Offerings (IPOs). Learn about the benefits, method, and criteria for registering a Public Limited Company.

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Public Ltd. Company - Incorporation Certificate [Sample]

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What is a Public Limited Company?

A public limited company is a form of business entity that has limited liability and sells shares to the general public to raise equity money. It is controlled by the Companies Act of 2013 and registered with the Ministry of Corporate Affairs. It can be incorporated with a minimum of seven members, three of whom must be the company's directors.

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Advantages of Public Limited Company registration

Limited Liability:

It helps protect the personal assets of the owners with limited liability protection. So if there are any financial issues with the company, the assets of the director are secured and cannot be seized by banks or departments.

Separate Legal Entity:

A public limited company is a separate legal entity in its own right, and hence the business owners aren’t subject to any personal liability. The company can acquire assets and incur debts in its name.

Raise Capital:

A public limited company can raise funds by offering shares to the general public, and hence it can raise more capital easily.

Credibility and Attention:

As listed on the stock market, a public limited company has higher credibility than other limited companies.

 

Documents required for Public Limited Company registration

As per the Companies Act 2013, you need to provide proper identity proof of members and directors along with valid address proof of the business office. It is important to note that you don't need to own a commercial property for company registration; one can use his residential address for incorporation of the company. Here are the documents required:

  1. Passport size photographs of the members
  2. Copy of PAN Card of the members
  3. Copy of Aadhar Card or Voter ID
  4. Bank statement (not older than two months)
  5. Proof of registered place of business
  6. No Objection Certificate from the owner of the property

Minimum requirements for Public Limited Company registration

A minimum of seven members is required

 

A minimum of 5 lakh rupees is required for share capital

 

At least three members must be the directors of the company

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Process of Public Limited Company registration

Step 1. Application for Digital Signature Certificate (DSC)

Public limited company registration is a complete digital process, and therefore the requirement of a digital signature certificate is a mandatory criterion. Directors, as well as subscribers to the memorandum of the company, need to apply for a DSC from the certified agencies. Obtaining a DSC is a complete online process, and it can be done within 24 hours. This process involves 3 simple verifications: document verification, video verification, and phone verification.

Step 2. Application for the Name Approval

Name applications for public limited companies can be done through the SPICe RUN form, which is part of the SPICe+ form. While making the name application of the company, the industrial activity code as well as the object clause of the company have to be defined.

Note: It should be ensured that the business name does not resemble the name of any other already registered company and also does not violate the provisions of emblems and names (Prevention of Improper Use Act, 1950). You can easily check the name availability by using our company name search tool to verify the same.

Step 3. Filing of SPICe Form (INC-32)

After name approval, details concerning the registration of the company have to be drafted in the SPICe+ form. It is a simplified proforma for incorporating a company electronically. The details in the form are as follows:

  1. Details of the company
  2. Details of members and subscribers
  3. Application for Director Identification Number (DIN)
  4. Application for PAN and TAN
  5. Declaration by directors and subscribers
  6. Declaration & certification by professionals

Step 4. Filing of e-MoA (INC-33) and e-AoA (INC-34)

SPICe e-MoA and e-AoA are the linked forms that have to be drafted at the time of application for company registration.

A Memorandum of Association (MOA) is defined under Section 2(56) of the Companies Act 2013. It is the foundation on which the company is built. It defines the constitution, powers, and objects of the company.

The Articles of Association (AOA) are defined under Section 2(5) of the Companies Act. It details all the rules and regulations relating to the management of the company.

Step 5. Issuance of PAN, TAN and Incorporation Certificate

After approval of the above-mentioned documents from the Ministry of Corporate Affairs, a PAN, TAN, & Certificate of Incorporation will be issued from the concerned department. Now, the company is required to open a current bank account by using these documents. You can contact us for assistance with your current bank account opening.

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