Public limited company registration:– A company whose securities are traded on a stock exchange and can be bought and sold by anyone. Public companies are strictly regulated, and are required by law to publish their complete and true financial position so that investors can determine the true worth of its stock (shares).
Public Limited Company Registration in Jharkhand is the most suitable corporate structure for entrepreneurs planning a large business venture. To register a public company in India there must be a minimum of seven members and there is no limit to the maximum number of members/shareholders to set up a public company.
A joint stock company in India enjoys all the privileges of a joint capital company with the features of a limited liability company. A public company is listed on the stock exchange to raise capital from the public. Therefore, a public company must comply with a number of government regulations and be a public company.
A public limited company registered under the Companies Act 2013. Members of a limited liability company registered in India enjoy the characteristics of a limited liability company and this type of legal entity is also entitled to raise capital from the public by issuing shares.
A joint stock company is the largest form of company available in India. A public company is a large company and is formed to raise funds through an IPO and other means from a public figure. The maximum number is not limited. however, SEBI approval is required after 500 members.
Public companies are also registered under the rules and regulations of the Companies Act 2013. Public companies enjoy the benefits of limited liability for their members and have the right to sell their shares to raise capital for the company. It can be combined with a minimum of three directors and has stricter rules and regulations than Pvt. GmbH.
It must have at least seven members, with no maximum number of members. It offers all the benefits of a limited liability company, along with greater transparency and easier ownership and transfer of ownership. Name, shares, establishment, number of members, management and directors, etc. distinguish any public company from a private public company.
Required Documents for incorporating a Public Limited Company
- Proof of identity of all the shareholders and directors
- Proof of address of all the directors and the shareholders
- PAN number of all the shareholders and directors
- Utility Bill of the proposed office i.e. proposed registered office for the company
- A NOC (No Objection Certificate) from the landlord where the office of the company will be situated
- Director Identification Number (DIN) of all the directors
- Digital Signature Certificate (DSC) of the directors
Process for registration of Public Limited Companies
There are various rules and regulations prescribed under the companies act, 2013 for the formation of a public limited company. Here is what you should keep in mind when registering a public limited company:
∙ Minimum 7 shareholders are required to form a public limited company
∙ Minimum of 3 directors is required to form a public limited company
∙ The minimum share capital of Rs. 5 lakhs is required
∙ Digital signature certificate (DSC) of one of the directors is needed while submitting self-attested copies of identity and address proof
∙ Directors of the proposed company will need a DIN
∙ An application is required to be made for the selection of the name of the company
∙ An application comprising the main object clause of the company is to be made. This object clause will define what a company will pursue after its incorporation
∙ Submission of the application to ROC along with the required documents like MOA, AOA, duly filled Form DIR – 12, Form INC – 7 and Form INC – 22 is needed
∙ Payment of the prescribed registration fees to the ROC is required
∙ After obtaining an approval from the ROC, the company should apply for the ‘certificate of business commencement.’
Register a Company :- Go through… – Step by step clarification
- RUN Application (Optional)
- RUN (Reserve Unique Name) is a web-based application for reserving the Company Name.
- The name approved under RUN Process is valid for a period of 20 days from the date of approval. Company Incorporation documents are to be filed within the validity period of Company Name.
FAQS ON public ltd:
Question . Why to go for Public Limited Company?
1. Easy Funding by investors or through IPO of company.
2. Shares of Public limited company are freely transferable.
3. A great transparency in company is available.
4. Best for long term vision of business.
5. Very easily recognizable.
Question .How much time will it take to register a public limited company?
It normally takes 15-18 working days after submission of all requisite documents. But sometimes it may vary to 18-25 days also which depends of state of registration, as each state has its own Registrar of Companies(ROC) to register public limited company.
Question .What are the additional compliance for Private Limited Company?
Apart from regular compliance of Income Tax, there are very heavy compliances that a public company need to comply. Among the all registered business entity, public limited company have the maximum compliances as it involves public money. There are several periodical and annual compliances that requires a regular monitoring by professionals.
Question .Will company360 help in your post incorporation compliances?
Yes, Company360 will assist you in your post incorporation compliances .