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Public Limited Company Registration

Summary Documents Procedures Characteristics

Summary

We at VGC can help you register your public Company.

Public Limited Company is an entity which has to be differentiated from a private limited company. The requirement for having a specific number of shareholders and directors for a public limit company is mandatory. A public limited company gets listed with the stock exchange to raise capital from the general public. A Public Limited Company that is registered under the provisions that are prescribed under the Companies Act, 2013.

As per Companies Act, 2013, Public company means a company which:

a) Is not a private company and;

b) has a minimum paid-up share capital, as may be prescribed

Provided that a company which is a subsidiary of a company, not being a private company, shall be deemed to be public company for the purposes of this Act even where such subsidiary company continues to be a private company in its articles.

A Public Limited Company in India enjoys all the privileges of a corporate entity together with the features of Limited Liability. A public limited company gets listed with the stock exchange to raise capital from the general public. Hence, the Public Limited Companies have to comply with multiple regulations of the government and start a Public Limited Company.

If you're a small or medium-sized business looking to acquire equity money from the public, forming a public limited Enterprise is your best option because it gives you all the protections afforded by a corporation with limited liability.

Also, the rules and the regulations of a Public Limited Company are more rigid and strict in comparison to the Private Limited Company. Still, it is better to incorporate a Public Limited Company as it provides the benefits of a Private Limited Company with features such as easy transferability and ownership of shares.

Public company must have;

Minimum seven shareholders.
Minimum three directors.
Shareholder of public company can freely transfer their shares
Public company can invite general public for subscribing shares of company.

In case of private limited company, the number of members limited to only 200. But there is not such a limit in the public limited company which means there can be either fifty shareholders or five thousand shareholders in the public company, but it should not be less than seven. The management is managed by the board of directors of the company which contains a minimum of 3 persons as directors of the company. The trading of the share also becomes possible under a public limited company through the stock exchange.

Under a public limited company, any person can become the shareholder of the company no matters where he/she lives and what is his/her identity the only thing requires is that he/she should hold at least 1 share of the company to become its shareholder. People invest their funds and get the possibility to earn a profit in the form of dividends and other different ways. Special feature of public limited company is limited liability for every shareholder is limited.

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Documents

Documents Required for Public Limited Company Registration

A) Identity Proof and Address Proof

Identity Proof and Address proof is required for all the proposed shareholders and directors. Identity proof will be pan card in case of Indian nationals and passport in case of foreign nationals with voter id, passport, driving license. One address proof is required from following latest bank statement, telephone or mobile bill electricity or gas bill.

B) Contact Details

E-mail id and mobile number are required of proposed company. Further, mobile no. and e-mail id are also required of all proposed directors. The mobile no. and e-mail id of directors should be their personal mail and mobile number.

C) Registered Office

No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property).

D) Draft Documents for Incorporation

Finally, based on the above documents provided we prepares the drafts documents which are required to be submitted to MCA. You are not required to visit any place and we will complete the company registration procedure at the comfort of your home as the process is completely online. We make it as simple Company Registration process for you.

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Procedures

Procedure for incorporation of Public Limited Company registration

Name reservation:
The initial step of public limited company incorporation is to reserve the name of the company. The proposed name selected should not include any word which prohibited under companies act, 2013.

Digital signature certificate (DSC):
The registration application to incorporate a public limited company must be certified by the director and shareholder of the company through a digital signature certificate.

Memorandum and article of associations:
The MOA & AOA must be attached with the registration application.

Submission of incorporation forms:
Online forms are required to submit over the MCA portal and once the application is evaluated by the ROC, the certification of incorporation is issued.

We at VGC, having dedicated team for registration of companies anywhere in India. Recently, the MCA changed the Incorporation procedure to include DIN allotment, Issuance of PAN, TAN, GST, EPFO, ESIC, and Profession Tax (only in Maharashtra). Further, for incorporation of company it requires legal procedure and legal knowledge as it also require attestation by a Professional who must be either Company Secretary or Chartered Accountant or Cost Accountant. The registration is done through Spice+ which has basically two parts:

PART A

Name Reservation

PART B

Company incorporation
PAN Application
TAN Application
GSTIN Application
Application for DIN
EPFO Registration
ESIC Registration

Is online public limited company registration in India possible?

Here VGC serves you to perform online public limited company registration in India. You don't need to be in the office physically. For registering a public limited company in India from anyplace is required to stay in touch with us via mobile or website.

A public limited company is normally established to generate capital from external sources, i.e. the general people for starting a business, business expansion, technological advancement, global expansion, etc., But a public limited company more suitable just for large organizations. Organizations that have a comprehensive perspective and higher growth possibilities, rather than a small shop located next door.

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Characteristics

BENEFITS AND CHARACTERISTICS OF PUBLIC LIMITED COMPANY

1) Limited Liability

The most significant advantage of a public limited company is that the owners have limited liability. This can be a significant advantage for new businesses as it protects their assets from potential business failures. One of the key benefits of setting up as a public limited company is limited liability. The members are liable to pay the debts only to the extent of how much they own towards their shareholding, i.e. the unpaid share value

2. Separate Property/ Separate Legal Entity

The separate legal entity feature gives your company to keep yourself and the company at length recognizing its own separate identity. It can sue and be sued in its own name, i.e. company name. There is a separation of management and ownership. Thus, the managers are responsible and answerable for the company's loss.

3. Perpetual Succession

A public limited company has a perpetual succession, which means it has a continued or uninterrupted existence until it is legally dissolved. Members may come and go company goes on forever. The death of the founders, directors or members does not affect its existence.

4. Free and easy transferability of shares

Shares of a company limited by shares are transferable by a shareholder to any other person. The transfer is easy as compared to the transfer of an interest in a business run as a proprietary concern or a partnership. If all or any of the shareholders wish to exit from the company, they can do so by simply transferring their shares.

5. Growth Opportunities

As the organization has an expansive capital base development openings are likewise huge, particularly in the event of an open constrained organization. Indeed, even after the organization has started the business, if an open constrained organization requires increasingly capital, it can generally issue more offers.

6. Can Sue or Be Sued

A person can take legal action on his / her name. Similarly, company as an independent legal entity could take legal action in its own name against another person. This includes company name change, mergers or demergers.

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