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Public Limited Company Registration is a creation of law and can be registered/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 number of members in 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 has to be hold 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 person is needed to become the shareholder of the company. However, there is no limit of shareholders.
Accordingly, no minimum paid-up capital requirements will now apply for incorporating Private as well as Public Companies in India.
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 FY
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 MCA. An application need to be filed alongwith 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 a LLP, Photo, Attested ID and Address proof is required to be filed along with application
Company registering in India need to get its name approved from the ROC, The name should be new, unique and which does not closely resembles with an already registered company or TM.
MOA is a legal document which defines activities of the company where as the AOA is rule book for company opertion. these are drafted in line with the provisions of companies Act 2013.
Based of declaration & information provided in the application, the ROC registers a Company and issues a certificate of incorporation, which is considered as conclusive proof of incorporation.
A Company needs a bank account to operate its business, our specialists shall be helping you in opening the bank acccount after the PAN is allotted, TAN is for TDS payment and Compliance
1 Limited Liability
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, owner needs to comply with all laws.
2 Perpetual Existence
Perpetual Existence implies that the company is unaffected by the death of owner or the transfer of its shares to a new establishment. 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.
3 Capacity to Sue and to be Sued
Public Limited Companies enjoy the advantage to carry out legal proceedings and to bring a suit in the court of law. Like an individual, the companies can bring a legal action in another person's name and also can be sued in the court of the law as they are distict & independent legal entities different from its owners, promoters & directors
4 Distinct Legal Entity
A legal entity like a company has a separate identity from its owners or shareholders. With the registration of the company according to the law in force it becomes a distinct legal entity which is different from its promoters and is treated separate under law
5 Borrowing Capacity
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.
6 Owning Property
Like a person a Public limited company can purchase, sale, own, possess, enjoy and transfer property rights to anyone in its own name. Moreover, no claim can be made upon the property of the company by the shareholder as long as it exists.