Public Limited Company Registration in India
Setting up as a PLC means you own a Public Limited Company and permit you to offer shares to the public. A public limited company is a voluntary association of members which is incorporated and, therefore has a separate legal existence and the liability of whose members is limited.
Its formation, working and its winding up, in fact, all its activities are strictly governed by laws, rules and regulations. The Indian Companies Act, 2013 contains the provisions regarding the legal formalities for setting up of a public limited company.
HOW DO I START A PUBLIC LIMITED COMPANY?
For registering a Public Limited Company, kindly go through the following steps:
STEP-1: REQUIREMENT BEFORE REGISTRATION
Minimum Authorized Capital and Paid-up capital should be Rs. 5,00,000/-. At least three Directors and Seven Members required forming a Public Limited Company.
STEP-2: DSC AND DIN
The proposed Director should have a valid DIN (Director Identification Number) allotted by the Ministry of Corporate Affairs. One of the Directors should have a valid Digital Signature Certificate issued by the Certifying Authorities approved by the Ministry of Corporate Affairs.
STEP-3: REGISTERING YOUR COMPANY NAME
Company Registration in India starts with filing of an application for Company Name. The chosen name for a company should be unique all over India. Usually in a day or two, concerned ROC approves the name if the applied name is not same or closely similar to the name of an existing company and the proposed name is in accordance with the Guidelines for Name Availability issued by the Ministry of Corporate Affairs (MCA). Check with MCA website to find you name availability, click here.
STEP-4: SUBMISSION OF FINAL DOCUMENTS
- On getting the company name approved we need to submit final documents to the RoC. The office ROC will scrutinize the incorporation documents. If the documents are found in order, the Company will be registered and the Certificate of Incorporation will be issued by the Registrar.
- The Certificate of Commencement of Business has to be obtained by a Public Company before commencing any commercial activity.
- Registration Done within 10 to 15 days
Everything below is included:
- DSC for 3 Directors.
- DIN for 3 directors
- Name approval Certificate (If INC-29 it will not be provided)
- MOA, AOA & other allied documents supporting incorporation.
- Certificate of Incorporation.
- PAN and TAN (After incorporation)
Flexible to Trade in Stock Exchange
Public company has the flexibility of trading its shares in stock exchange and it is one of the greatest advantages for any company. Any company, whose shares has positive market in stock exchange then the company will have a great market value and the share value of the company tends to increase.
Separate legal Entity
A Company is a separate legal person and juristic person under the law. The company on its own can hold properties and is differs from its members and Directors. The Board of Directors of the Company can only authorised to manage the company, but they do not own the company entirely.
The members and Directors of the Company posses limited liability and hence they will not be liable for the debts of the company. They are responsible and answerable but the personal assets of the members and directors are not involved in writing of f debts for the company.