Get Your Company Registered as a Public Limited Company
Quick Process, Zero Hassle, Full Support
No restriction for maximum number of members.Full credibility and power of public funding for growing your business.
Starting From ₹15,000/-
No restriction for maximum number of members.Full credibility and power of public funding for growing your business.
The name of a Public Limited company shall end with words ‘limited’. According to the Companies Act, this company can issue shares to the public and can accept deposits from the public. It is a limited company formed with the minimum of 7 members and 3 directors.
There are two ways for reserving a name for a new company :
RUN (Reserve Unique Name): is an easy and web based application for reservation of a company name. The name approved under the RUN process is valid for a period of 20 days from the date of approval. In one application you can submit two names under this process and if the application is rejected you can submit another two names again.
SPICe (Simplified Proforma for Incorporating Company Electronically): is an integrated single point application for reservation of company name, allotment of DIN for directors and incorporation of a new company along with the allotment of PAN and TAN to the company. In this application you can submit only one name for the approval.
Here are some of the features of the Public Limited Company.
A public company must have minimum 3 directors and minimum one director must be a resident of India.
A public company must have a minimum of 7 shareholders. There is no limit on maximum number of shareholders.
Public companies should comply with all provisions of the Companies Act as this type of company is for large business with public interests.
Shares of a public company are freely transferable. Board of directors cannot impose restrictions on share transfer.
A public company can issue shares subject to regulation of SEBI and other compliance requirements.
There is no minimum capital (Authorised or Paid up capital) is required for registering a company. However, registration fee is required.
The first shareholder must bring the subscribed capital to the company within 60 days of company incorporation and the company must issue share certificates to the subscribers.
Identify a minimum of 7 shareholders and 3 directors:
For registering a public company, a minimum of 7 shareholders and 3 directors are required. Shareholders could be individuals, companies or LLPs, but only individuals can become directors of the company. A director should be a shareholder of the company.
Obtain a DIN for all proposed directors:
The proposed directors must have a DIN allted by the Ministry of Corporate Affairs. DIN can be obtained by filling an online application with a copy of ID and address proofs.
Obtain a DSC for promoters and directors:
During the registration process, all the documents are submitted online and all these documents need to be authenticated by signing it using a Digital Signature Certificate. All promoters and directors should have a Digital Signature Certificate in order to authenticate the documents that are filled.
Identify the location and authorised capital of the company:
It is important to have a proper address for the registered office of the company. The address need not be a commercial location for registering a company.
A public limited company should have no minimum authorised capital. Authorised capital can be any amount. Company registration fee varies depending on authorised capital of the company.
Company name application:
Before proceeding with the incorporation process, an application has to be filed for getting the company name approval by ROC. it is preferable to submit the application with multiple names in the order order of preference.
Execution of company registration documents:
After the company name is approved, the promoters have to execute the company incorporation documents such as Memorandum of Association (MOA) and Articles of Association (AOA) in a prescribed format.
Submission of company registration documents to the ROC:
Once the eMOA and eAOA are prepared, the same have to be submitted to the ROC Central for registration of the company.
Company registration and certificate of incorporation:
The ROC will register the company after due verification of eMOA, eAOA and other details and will issue the Certificate of Incorporation (COI). The Central ROC will also allocate a Corporate Identification Number (CIN) to the company that is registered.
Filling commencement of business declaration:
A public company cannot start its business immediately unless declaration is filed by directors.
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Following documents are required for obtaining DIN number, DSC and Company Formation-
Educational Qualification, Place of Birth
Business is always about being precise and accurate, especially with your legal framework. We understand that asa new business owner you would have questions about public limited company registration. That's why we have written about the commonly asked questions here.