Basic Details of Public Company

A public limited liability company allows limited liability to its proprietors and to its management team. But in the case of a public limited company, a firm can sell shares to investors which are considered as a beneficial act in raising the capital for the business. To establish a Public Limited Company, a minimum of three Directors are required and there is no cap on the maximum number of members. Importantly, it has more strict regulatory requirements when compared to a Private Limited Company.

Public Limited Company is a different type of company but holds most of the characteristics of a private limited company. It enjoys more benefits such as ease of transferability, borrowing capacity, limited liability, and perpetual existence. Like any other companies in India, Public Limited liability is also registered according to the rules and regulations of the Companies Act, 2013.

Benefits of Public Limited Company Registration

1. Limited Liability Protection to Directors personal assets
2. Better image and credibility in Market
3. Easy to raise funds and loans
4. Favorite Business structure for Investors
5. Easy Transfer of shares
6. Most Suitable for Heavy Investment

Benefits of Public Limited Company Registration

• Limited Liability Protection to Directors personal assets
• Better image and credibility in Market
• Easy to raise funds and loans
• Favorite Business structure for Investors
• Easy Transfer of shares
• Most Suitable for Heavy Investment
   

Documents Required For Public Limited Company Registration

• PAN card for each Directors
• ID Proof – Driving License/ Passport or Voter ID of each Directors
• Address Proof – Latest Bank Statement OR Telephone/Mobile Bill of each Directors
• Address Proof of The Company – EB CARD or GAS Bill
• Passport Size photo of each Directors.
• Email and mobile number of each Director

Requirements for registering a Public Limited Company

Minimum 7 shareholders are required to form a Public Limited Company.
A minimum of 3 Directors is required to form a Public Limited Company.
A minimum share capital of Rs.5 lakh is required.
DSC of one of the Directors is needed when the self-attested identity copies and address proof are submitted.
DIN for the Directors is necessary.
Application is to be made for the selection of the Name of the Company.
An application that comprises the main object clause of the company is made. This object clause will define the main objectives of a Company after the incorporation.

Annual Compliances for a Public Limited Company

• Board Meetings
• Appointment of a Cost Auditor
• Return of Deposits
• Appointment of CFO or CS or CEO
• Annual General Meeting
• CSR Committee
• Director’s Disclosure