Public LTD Company Registration

PUBLIC LIMITED COMPANY:

Description: A public limited company designates a company that has offered shares of stock to the general public. The buyers of those shares have limited liability, meaning that they cannot be held responsible for any business losses in excess of the amount they paid for the shares. public limited companies can focus on increasing brand awareness, building customer loyalty and more.

Benefits of Public Limited Company:

• Shareholders’ Limited Liability: In a Public Limited Company, the accountability of the Shareholders and Directors is limited according to the amount of the shares they own in the organization. For instance, if the public limited company face any financial emergencies, the personal assets of the shareholders will not be affected as per the regulations.
• Listing in the Stock Exchange: Unlike a Private Limited organization, Public Limited companies can list themselves to the IPO (Indian Public Offerings) and the popular Stock Exchanges. This leads to several business-related benefits and opportunities.
• Distinct Legal Entity: In a Public Limited Company, the existence of the entity does not depend on any individuals’ presence in the organization. For example, any Shareholder or Director may leave the organization without affecting the actuality of the particular Public Limited Company.
• Countless sources for Fund-Raising: A Public Limited Company can raise its resources by crowd-funding or from the common people’s involvement following the legal aspects. It helps an entity surviving in the marketplace and going for new ventures with ease.
• Simple Transferability of Shares: Following the regulations of the Companies Act, 2013, the shares of a Public Limited company can be transferred without any hassle. Added on that, being listed in the Stock Exchange and transferability feature, people are always willing to invest leading to financial aids for the same.
• Cautious on Business Transparency: As a Public Limited company involves public interaction and involvement in all the stages, the organization always looks for clarity in the business operation by publishing the Audit Credentials, Statutory Reports to its people.
• Upholds the Brand Position in Marketplace: It is always beneficial for an organization while being registered as a Public Limited company. Being listed in the Stock Exchange and publishing the reports to its people enhances its Brand Image and reputation in the market.

Documents Needed for Public Limited Company:

• Proof of identity of all the shareholders and directors- Aadhar card and Voter ID/ Passport/ Driving License of Partners
• Proof of address of all the directors and the shareholders- Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Partners.
• PAN number of all the shareholders and Directors-Foreign nationals must provide a valid passport.
• Utility bill of the proposed office i.e. proposed registered office for the company. – Latest Electricity Bill/ Telephone Bill of the registered office address
• A NOC (No Objection Certificate) from the landlord where the office of the company will be situated.
• Photograph- Latest Passport size photograph of Partners.
• Director Identification Number (DIN) of all the directors.
• Digital Signature Certificate (DSC) of the directors.
• Memorandum of Association (MOA).
• Articles of association (AOA).
• In case of NRI or Foreign National, documents of Partners must be notarized or apostilledMinimum Requirements to Register Public Limited Company
  • Minimum Seven Persons: A company can be registered in India, by at least seven persons, who shall act as the shareholders of the company. There is no limit on the number of shareholders and the minimum director required is 3 which can’t exceed 15 directors.
  • Resident Director: One director of the company must be resident in India. A person is said to be resident if he or she stays in India for at least 182 days during the preceding financial year irrespective of their citizenship. The days of stay can be in phases.
  • Capital Requirement: Invest as per requirement of your business, and there is no minimum capital requirement as such to be maintained in the company. However, the government fee on company registration is calculated on the capital.
  • Unique Name of Company: The proposed name of the company should not resemble any existing company or LLP. Further you must check the trademark registry to ensure that the name does not match with any registered or applied trademark in India.

   

  Registration Process for Public Limited Company:

   

  • Step:1: Apply for Digital Signature Certificate (DSC): First of all, you have to apply for the Digital Signature Certificate for all the proposed directors in the company. DSC is used to sign the e-forms and is an authentic and safe method to file all the documents on an electronic platform. It is a mandatory document. A director can easily obtain DSC from the nearest Certifying Authorities or CAs with self-attested coppices of their identity proof. It takes around 1 -3 working days to obtain a DSC.
  • Step:2: Name Verification: The third step involves name registration of the company. You can check the name availability through the MCA portal by following this step.

  Visit the MCA Port    al> select the MCA services> Click Check Company Name.

  • Step 3: Filing Form SPICe+: Once the company’s name has been approved you can now file the SPICe+ form to avail the company incorporation certificate. Along with it, you have to file all the required documents such as MOA (Memorandum of Association) and AOA (Article of Association). These two documents contain the details of the mission, objectives, aims, visions, business activities, responsibilities of all the directors and shareholders and definition of the proposed company. All the documents and applications are further verified by the higher authorities and it takes around 7 to 9 working days.
  • Step 4: Obtaining Certificate of Incorporation: Once all the applications and document to have been received to the authorities and they have verified it, the company would receive the Certificate of Incorporation which will include CIN and date of incorporation

  Simple and Transparent Services after Registration:

  • Basic: DSC, DIN, Name Approval, Incorporation Fee, PAN, TAN, Share Certificates and Company Kit.
  • Standard: 8 DSC, 2 DIN, 1 RUN Name Approval, 10L Authorised Capital, Incorporation Fee and Stamp Duty, Incorporation Certificate, PAN, TAN, and GST Registration.
  • Premium: 8 DSC, 2 DIN, 1 RUN Name Approval, 10L Authorised Share Capital, Incorporation Fee, Stamp Duty, Incorporation Certificate PAN, TAN, GST Registration & Trade Mark Registration.Registration Duration: Provided that you have all your documents in place, it can take anywhere between 10 – 15 Working days to register your company formally.