Public Limited Company

  • Name of the Proposed Company
  • Significance of the Name
  • Objective of the Business
  • DIN of directors (if available)
  • Class II Digital Signatures
  • KYC of promoters
  • Identity Proof of directors
  • Address Proof of Directors
  • Authorised Capital Structure
  • Address of Registered Office alongwith proofs
  • NoC from the owner of the Registered Office of the Company
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WHAT?

A Public limited Company is a Company registered under the Companies Act, 2013 which not only enjoy the status of separate legal identity but the shares of Public Limited Company are offered to the public at large and are capable of being listed on the stock exchange. A Public Limited Company required minimum of SEVEN members and THREE Directors.

Such type of Company is more suitable for those running Business on Large Scale and wish to get its shares listed on a stock exchange and who are desirous of offering the shares to the public. Such Companies tends to acquire greater market share in the industry and have a goodwill in the market. Banks and Financial Institutions prefer the public companies more for sanctioning the loans.

WHY?
Limited Laibility
Liability of the members of the Company is limited only to the extent of the shares subscribed by the members of the company.
Creditworthiness
Creditworthiness of a Public Limited Company is well known to the Public at large which in turn facilitate funding of business.
Lisiting
The shares of a Public Limited Company are capable of being listed on the Stock Exchange and can be issued to the public at large.
Easy Trasnferability
Hassle free transfer of shares of a Public Limited Company from one person to another.
Legal Capacity to Sue
A Company has the capacity to initiate a legal proceedings against any person or entity in its own name before the court of law.
HOW?

A Public Limited Company is registered under the provisions of the Companies Act, 2013 through the procedure prescribed under the Act / Rules and Regulations made there under.

  • Step1: Name Approval: - The proposed name of the Company is applied by the promoter by paying requisite fee online through RUN(Reserve Unique Name) Web Service. The applied name will be processed by the Central Registration Centre(CRC) and thereafter approval or rejection will communicated to the applicant.
    To avoid rejection, the name should be as per the guidelines provided under Companies (Incorporation) Rules, 2014.
    Once the name is approved the said name will be available for 20 days within which the incorporation process has to be completed.
    The name of the Public limited company must end with the words "Limited".
  • Obtaining Digital Signatures: - Digital Signatures of all the members and any one Directors (if members and directors are different) needs to be obtained for the incorporation of the Company. For obtaining the Digital Signatures following KYC details are required:
    1. Identity Proof, i.e., PAN Card (Self Attested)
    2. Address Proof, i.e., Aadhar Card (Self Attested)
    3. Photographs
    4. Valid Phone Number
    5. Valid E-mail id
  • Step 3: Documents preparation: - Once the name gets approved by the department, the documents are prepared as per the guidelines given under the Act / Rules for the incorporation of the Company.
  • Step 4: Incorporation: - Incorporation of the Company is done through e-form namely Simplified Proforma for Incorporating Company electronically (SPICEe). Thus, after preparation of documents Form SPICe - INC-32 will be filed along with eMOA (INC-33) and eAOA (INC-34) with the Central Registration Centre(CRC) of Ministry of Corporate Affairs by paying the requisite Stamp duty charges.
  • Step 5: Certificate of Incorporation: - Once the entire process is completed and the concerned department is satisfied by all the compliances, the Certificate of Incorporation will be issued along with the allotment of PAN (Permanent Account Number) and TAN (Tax Deduction Account Number) of the Company, after which the proposed company will become a separate legal entity. A Public Limited Company can transact the business in its own name immediately after getting the Certificate of Incorporation.