Public Limited Company Registration
A limited company provides limited liability to its management and the owners. A public company authorized a firm to sell its share to the public and for raising the capital, this is very good. Minimum of three directors are needed to incorporate a public limited company and compared too a private limited company, its regulatory needs are very stringent.
The public limited companies are those kinds of companies, where there is a minimum of seven members and there is no any restriction regarding the maximum quantity of members. Most of the features of a private limited company are also found in a public limited company.
A public limited company gets all the benefits which are similar to a private limited company and it also has the potential to have more transparency, ease in shareholding transfer and have any number of members. The marks of identification of a public limited company are number of shares, members, management, formation, meetings, directors and name etc.
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Reasons for Registering a Limited Company
Limited company enjoys good approaches for funds borrowing. It can issue unsecured and secured debentures and can get deposits from the general public.
The shareholders of the company can not make any type of claim on the company property as the company is a going concern for the time being.
Limited company is not affected by the departure or death of its members. Regardless of the changes in membership, a company is continued its existence.
A shareholder can transfer the shares of a company limited by shares to a different person. Signing and filing the form of share transfer and managing the share buyer’s share certificate will transfer the shares easily.
A company is a juristic and a legal person established under an act. Therefore, any organization in the form of a company incur the debts, own the property and has wide legal capacity.
What is meant by registration of the public limited company?
Those companies are considered as public limited companies who issues fixed deposits and whose shares are selling in the share market. For the registration, a public limited company has minimum 7 shareholders, 3 directors and a maximum of the 50 directors. It also requires paid up capital of 5 lakhs rupees.
A public limited company gets all the benefits of a private limited company and it also has the ability to have no restrictions on the total number of members, more transparency and simple shareholding transfer.
You can select a public limited company, because to give a loan, high preference is given to a public limited company. In a stock exchange, a public limited company can list its shares by following the compliances. Shares are transferred easily by the shareholders. In a public limited company, the liability of the partners is limited.
Necessary Documents for Registration of Public Limited Company
PAN Card copies of directors
Directors passport size photographs
Voter Identity card/Aadhar card copy
Water/Electricity bill (business place)
Rent agreement copy (If property is rented)
No objection certificate from the landlord
Property papers copy (if property is owned by you)
Notarised copy of passport for the Foreign nationals
Proof of address of shareholders and the directors like statement of bank, Aadhar card, Driving License, and Passport.
Registered office proof in India like property tax receipt, sale deed, rent agreement.
Hard copy of the documents of the signed digital signature application
Minimum requirements for the registration of Public limited company
Process of registration of Public limited company
Director Identification Number(DIN) and the Digital Signature Certificate (DSC) are needed for the Public Limited Company proposed directors. With in 5 to 7 days, DSC and the DIN can be received for the proposed directors.
The maximum of six and a minimum of one proposed names need to be submitted to the ministry of corporate affairs (MCA). It is subject to processing time of MCA, guidelines for names, and depend upon the availability. Within 5 to 7 working days, name is approved.
Documents for incorporation need to be submitted to the ministry of corporate affairs along with the incorporation application. Incorporation application is approved by the ministry of corporate affairs within five to seven days and it is also depends upon time taken by them for the processing.
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