Public Limited Company Registration is a Creation of Law and can be registered or incorporated as per The law and provisions contained in the Companies Act, 2013. and the Rules made thereunder… Any seven-person can open ‘Public Limited Company’ with no limitation to the number of members in the company. The minimum capital required to form a Public Limited Company is now abolished. However, the intention of the law is that at least one shares each have to behold by each subscriber they are known as shareholders. This form of business is suitable for large scale of business where the capital requirement is very high and the company is willing to obtain money from the public at large. Seven people are needed to become the Shareholder of the Company. However, there is no limit on shareholders.
One director of the company must be resident in India. A person is said resident when he stays in India for at least 182 days in the Financial Year. Accordingly, no minimum paid-up capital requirements will now apply for incorporating Private as well as Public Companies in India. Name of the company should be unique, and it must not be same or similar to the name of any existing company or a trademark. DSC is required for e-filing with Ministry of Corporate Affairs (MCA) An application needs to be filed along with ID and Address proof duly Attested by a Gazetted Officer, Post Master or a Manager of Nationalised Bank. It is a unique number which is allotted to a director of a company or a designated partner of an LLP Photo Attested ID and Address proof is required to be filed along with the application.
A Company registering in India need to get its name approved from the ROC, The name should be new, unique and which does not closely resemble with an already Registered Company or Trademark. Memorandum of Association is a legal document which defines activities of the company whereas the articles of association are the rule book for company operation. These are drafted in line with the provisions of Companies Act, 2013. A Company needs a bank account to operate its business, our specialists shall be helping you in opening the bank account After the PAN is allotted, TAN is for TDS payment and Compliance Limited Liability implies that the owners or shareholders of the company are not personally liable to pay debts of the business. They are only responsible for the unpaid shares of the capital of the company. In order to reap the Limited Liability Benefit, the owner needs to comply with all laws.
The best part of perpetual existence is that a company will continue to exist, no matter how many directors, officers and shareholders join or leave. A legal entity like a company has a separate identity from its owners or shareholders. Not only the Public limited companies receive great financial assistance from banks and financial institutions but also enjoys an advantage of borrowing funds. A Public limited company can also issue debentures apart from accepting deposits from the public. Like, a person a Public limited company can purchase, sale, own, possess, enjoy and transfer property rights to anyone in its own name.