Public Limited Company Registration

Meaning of Public Limited Company

According to the Company Act 2013, a Public Limited Company refers to the company which can offer shares to the public and has defined liability.
A public limited company can offer its shares to the public either via (IPO) initial public offering or trading platform like the stock market. Everyone is allowed to acquire the shares offered by PLC.

A Public Limited Company rigidly adheres to the regulations and reveals its accurate financial status to its shareholders.

Suitability & Popularity

A public company is suitable for medium and large-sized businesses that want to raise equity capital from the public. Due to its various advantages, the public limited company is one of the most popular legal entities among medium and large-size companies in India.

Characteristics of Public Limited Company

To understand the concept of PLC better, let us check its characteristics which are as follows:

Directors

Under Companies Act, 2013 provisions, a public limited company must have at least 3 directors.

Paid-up capital

No minimum capital is required to form a Public Limited Company

Prospectus

Under the Companies Act, 2013, a public limited company must issue a prospectus that showcases the company’s business affairs, to the public.

Name

As per Companies Act, 2013, it is mandatory for all the public companies to end their name with the word “Limited”.

Limited Liability

Public Limited Company limits the liability of each shareholder by making the owners jointly & severally liable for the business’s debts.

Benefits of Public Limited Company Registration

Let us have a look at the benefits of establishing a public limited company:

Additional Capital
Increased Popularity
Divided Risk
Success and Business Expansion

Requirements for the Incorporation Public Limited Company

Companies Act, 2013 has listed the following requirements for the incorporation of a Public Limited company

Minimum 3 Director and 7 Members

Minimum 3 Directors and 7 Members are required to incorporate Public Limited Company.

PAN Card

Self-attested PAN Card of Members and Directors.

Identity Proof of Directors

Self-attested ID proof of Members and Directors- (Anyone out of the following -Valid Passport/Voter ID/Aadhar Card/Valid Driving License)

Address Proof

Self attested Address proof of the Members and Directors (Any one out of the following – Bank Statement/ Electricity Bill/ Telephone Bill/ Mobile Bill which and it should be not older than 2 months

Passport Size Photo

2-2 Passport Size Colored Photos of Members and Directors.

Business Address Proof
(Owned/Rent/Leased)

NOC from the Owner of Property/Property Papers (Title Deed)/Utility Bill (Either Electricity Bill or Mobile Bill or Telephone Bill) (Should Not be Older than 2 Months)

Information Required

Authorized and Paid-up Share Capital of the Proposed Company and Number of Shares Subscribed by Members
Place of Birth and Duration of Stay of Members and Directors at Present Residential Address.
Occupation of Members and Directors.
Proposed Object/Business of the Proposed Company.
Educational Qualification of Members and Directors.
Email IDs and Contact Number of Members and Directors.

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