Public Limited Company Registration in India | Admond World

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Public Limited Company Registration

Admond World offers a public limited company registration service at the best price in the market, with no hidden costs, and never asks for full payment before company registration. So, if you are looking for people who can provide the best service in this market, then welcome to Admond World. We get free advice from our expert chartered accountants, so call us today to book your company name.

What is Public Limited Company?

A public limited company is a voluntary association of members that can be joined by seven or more people. It has an independent legal existence apart from its members who have created it. It must have at least seven members but there is no limit to the maximum number. Its shares are freely transferable without the prior consent of other shareholders. It is an independent legal entity, its existence is not affected by the death, retirement, or bankruptcy of any of its shareholders. These companies can invite the public from deposits and capital. These companies may be unlisted or listed.

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Public limited companies are those types of companies where the minimum number of members is seven and there is no cap on the maximum number of members. A public limited company has most of the attributes of a private limited company. A public limited company has all the advantages of a private limited company and the number of any member, ease of transfer of shareholding and greater transparency. The identification marks of a public limited company are name, management, share, formation, number of members, directors and meetings etc.

Public Limited Company Registration Requirements

Minimum Seven People: Setting up a public limited company in India requires at least seven people. These companies should have a minimum of three directors. The same seven people can become shareholders and directors of the company. However, a maximum number of people can become shareholders in a public limited company.

No Minimum Capital: Business capital depends on business needs and requires a legal minimum capital to establish a public limited company. However, the minimum authorized and subscribed share capital required for a public company is five lakh rupees. Business capital depends on business needs and requires a legal minimum capital to set up a public limited company. However, the minimum authorized and subscribed share capital required for a public company is five lakh rupees.

One Resident Director: Among director, one person must be Indian citizen.

Unique Name: The name of the public limited company should be unique and should not be similar to the any existing company name or trademark.

A public limited company is strictly controlled and must disclose its true financial health to its shareholders.

  • Characteristics of Public Limited Company
  • Advantages of Public limited companies
  • Requirements/Process for registration of Public Limited Companies
  • Documents required for incorporating a Public Limited Company

Characteristics of Public Limited Company:

Directors

As per the provisions of the Companies Act, 2013, to set up a public limited company, a minimum of 3 directors are required and there is no restriction on the maximum number of directors.

Limited Liability

The liability of each shareholder is limited. In simple terms, a shareholder of a public limited company is not’ personally liable for any debt or loss of an amount in excess of the amount invested by the company; Unlike partnerships and sole proprietorships, where partners and business owners are jointly and severely liable for the debts of the business. However, this feature of a public limited company does not provide any freedom to shareholders. Shareholders are held responsible for their own illegal actions.

Paid up capital

The minimum paid up capital for a public limited company should be Rs 5 lakh or more than the amount prescribed by law.

Prospectus

A prospectus is a complete report of the affairs of a company issued by a public limited company to its public and it is a requirement under the Public Limited Companies Act to issue a prospectus.  However, there are no special provisions for private limited companies. This is because private limited companies cannot ask the public to subscribe to their shares.

Name

It is a mandatory requirement under the Companies Act, 2013  for all the public companies to add the word ‘limited’ after their name.

Documents required for incorporating a Public Limited Company

  • Identity proof of Directors and Shareholders
  • PAN Card for Indian Nationals (Mandatory)
  • Passport for Foreign Nationals (Mandatory)
  • Proof of nationality for Foreign Nationals
  • Proof of Identity (Voter ID/Passport/Driving License) (any one)
  •  LLP for authorization of director/partner / Resolution of the board of company
  • 2 Passport size photos.
  • Address proof of Directors and Shareholders
  • Mobile bill/Telephone/Electricity/Bank statement) (not older than two months) (any one)
  • Proof of Registered office
  • Conveyance/ Lease deed/Rent Agreement etc. along with rent receipts (any one)
  • Copy of the utility bills (Gas/Electricity bill/Telephone) (not older than two months) (any one)
  • NOC from Landlord
  • Other Documents
  • DSC form (physically signed)
  • Note: All the Certificates/Documents in case of Foreign Director should be additionally complied as follows:
  • Notarized (if residing in commonwealth countries)
  • Notarized & Apostilled (if residing in country which is signatory to Hague convention)
  • Notarized & Consularised (If not covered in above categories)