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Public Limited Company
The Public limited company in India is a voluntary association of individuals which has a different legal existence and the liability of whose members are limited. A Public Limited Company can either be a listed Company or an unlisted Company on the Stock Exchange. Public Limited Company also appreciates wide alternatives to raise assets or funds through bank loans, by the general public, and Institutional investors.
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What is a Public Limited Company?
A public limited company has got many advantages over a Private Limited Company because of the ability to have any number of members, more transparency and ease in transfer of shareholding and makes it popular amongst foreign investors. If you are thinking out to raise funds from the public through Initial Public Offer (IPO) in that case Start your business by incorporating Public Limited Company.
A public limited company is established to generate capital from external sources, that is the business expansion, global expansion, the general public for starting a business, advancement of technology, etc.
But a PLC is appropriate to the large organizations which have a comprehensive perspective and higher growth possibilities, rather than a small shop situated nearby.
Below mentioned are the features that make a Public Limited Company Different from Private Limited Company:
- Shares offered by the public limited company can be easily transferable to any other person, such that it only requires filing and signing of share transfer form to transfer the shares.
- A Public Ltd. Co. is the most noteworthy and highest corporate structure, to begin with.
- In Public Limited Company investors have a claim to part of the firm’s assets and profits.
- A Public Limited Company can have any number of members.
- The Shares are easily transferable in Public Limited Company.
“ Mention company’s name “ is a distinguished business platform and a progressive concept, which helps in compliance, end-to-end incorporation, advisory, and management consultancy services to clients in India and abroad. Incorporating a Public Limited Company is easy, cheapest, seamless and quickest with our firm. Apart from a Public Limited Company, the firm also helps the entrepreneurs with Private Limited Company Registration, Partnership Registration, Nidhi Company Registration, LLP Incorporation HUF, and One Person Company registration easily. You may get in touch with ” “compliance manager on (phone number) or email info@ebizfiling.com for a free consultation.
All you need to know
A public limited company is a company that has permission to offer its registered securities for sale to the general public, typically through a stock exchange, or occasionally a company whose stock is traded over the counter (OTC) via market makers who use non-exchange quotation services. A public company is defined as a company which is not a private company. The following conditions apply only to a public company: A public company is a company which is governed by the provisions of the Companies Act. Ownership of such company lies with its Promoters and General Public. A public company can list their securities on any Regional Stock Exchanges and any person can buy and sell. In other words, its securities are freely transferable. The rules and regulations governed by the Companies Act with respect to a public limited company are much more stringent as compared to a private limited company. For incorporating a public company, the minimum number of directors required are three and the minimum numbers of shareholders required are seven. There is no limit for maximum number of shareholders.” Senixalegal help you with the establishment of the Public Limited Company by obtaining relevant registration.
Advantages of Public limited company registration in India
· Perpetual Succession
· No Minimum paid-up capital
· Limited Liability
· Better access to capital
Senixa India Private Limited is a distinguished business platform and a progressive concept, which helps in compliance, end-to-end incorporation, advisory, and management consultancy services to clients in India and abroad. Incorporating a Public Limited Company is easy, cheapest, seamless, and quickest with our firm. Apart from a Public Limited Company, the firm also helps the entrepreneurs with Private Limited Company Registration, Partnership Registration, Nidhi Company Registration, LLP Incorporation HUF, and One Person Company registration easily. You may get in touch with the Senixa India compliance manager on +91-9999347181 or email info@senixalegal.com for a free consultation.
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Why you should form a Public Limited Company?
Separate Legal Entity
Public Limited Company enjoys the benefit of Separate Legal Identity in the eyes of law which clearly states that liabilities and assets of the business are not the liabilities and assets of the Directors.
Builds Credibility
All the information and data relating to the company are made accessible in a public database. This feature makes it easy to verify the existence of the business that ultimately aides in improving business credibility.
Perpetual Succession
The organization keeps on existing in the eyes of law even in the case of death, the bankruptcy of any of its members, insolvency, and the succession would be valid.
Statutory Audit
Each Private Limited Company registered under the Companies Act irrespective of its sales turnover or nature of business or capital must have its book of records or accounts audited each financial year. Subsequently, the Board of Directors of a Private Limited Company are legally necessary to appoint an Auditor within 30 days of incorporation and thereafter conduct an audit of its financial statements each financial year.
Access to Finance
A Public Limited Company 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.
Essential Documents for Public Limited Company Registration
Checklist
- Passport Size Photograph of all the Directors
- PAN Card of all the Directors
- Identity Proof of the Directors (Driving License/Passport/Voter ID)
- Address proof of the Registered Office (Electricity Bill or any other Utility Bill)
Particular Requirements
A Company must have a registered office in India. Documents like bank statements or electricity bills 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.
Stpes to Incorporate Public Limited Company
Step 1
Get DSC & Reserve Your Company Name
Step 2
Submission of MOA & AOA
Step 3
Get Company’s Incorporation Certificate.
Step 4
Get Company’s PAN & TAN
Fill Simple Checklist
A compliance manager will get in touch with you to collect your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for verification. Our team of experts will verify the documents provided by you and take the procedure further. The compliance manager dedicated to you will keep you updated on the progress of Company Registration throughout the process.
Name Approval
Once your documents along with Checklist are submitted, we shall proceed with the application of your Digital Signature and subsequently the approval of your name for your Private Limited Company. You may suggest up to three names of your choice. Names should be unique and suggestive of the Company’s business. We will proceed with application for name for your Private Limited Company in Part A of SPICe Plus form.
Registration
We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 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 Registration
