Public Limited Company

Public Limited Company is one of the recommended ways to start a business in India for large-scale businesses. There should be a minimum of seven members with no limit on the maximum number of members/shareholders for starting a Public Limited Company. Public Limited Companies can get listed with stock exchanges to raise capital from the general public.

A Public Limited Company provides all the benefits of a private limited company along with more transparency and easy transferability of ownership and shareholding. Name, shares, formation, number of members, management and directors, etc differentiates Public limited companies from private limited companies.

It is governed by the MCA (Ministry of Corporate Affairs) and regulated by the Companies Act, 2013, Companies Amendment Act, 2020, and the Companies Incorporation Rules, 2014. But once it gets listed with stock exchanges Public Limited Companies have to comply with multiple regulations of the government and SEBI (Securities and Exchange Board of India)

Advantages of Public Company:

• Company as a Separate Legal Entity (Separation between Management and Ownership)
• Unlimited number of Members
• No minimum capital is required
• Funds can be raised from Public
• Listed on the stock exchange and stock trade is carried out publicly
• Numerous Taxation Benefits
• Easy to get investment/ funding for your Business.
• Business Expansion and Diversification
• Enhanced Brand Image and Improved Trust Factor
• Limited Liability
• Legal Security
• Capacity to Sue and Be Sued
• Better Compliance and Good governance

Basic Requirements for Incorporation of Public Company

• Minimum 7 Members (Shareholders/ Subscribers) no Maximum Limit.
• Minimum 3 Directors Maximum upto 15
• Registered Office place
• Minimum Capital/Subscription amount at least 1 Rs. Each Subscriber.

Documents required for Public Company Incorporation:

• Self-attested copy of PAN of each Director/ Subscriber (Mandatory in case of Indian resident Applicant only)
• Self-attested copy of Aadhaar of each Director/ Subscriber
• Self-attested Copy of Passport (Mandatory in case of foreigner/NRI Applicant);
• Passport size photograph of each Director/ Subscriber (in jpeg format)
• Specimen Signature of Authorized Signatory
• Self-attested Proof of Identity of each Director/ Subscriber (Voters Identity Card/ Passport/ Driving License)
• Self-attested Residential Proof (Bank Statement/ Electricity Bill/ Mobile Bill/ Telephone Bill) (not older than two months)
• No Objection Certificate from Landlord for Registered Office address
• Electricity Bill/ Water Bill of Business Place (not older than two months)

Note: In the case of Foreign/ NRI applicants Copy of Passport, Address Proof & translated copies of proofs (if any) should be notarized and/or apostilled by the home country of the applicant.

Other Details Required for Incorporation:

• Educational Qualification & Occupation of Directors
• Phone No., Email Id of each director, Subscriber, Company
• Proposed name of the Company (at least 2)
• Main Object of the proposed Company
• Proposed Authorized and Paid-up Capital of the Company
• Shareholding Percentage
• Face Value of Shares
• Authorized signatory of the Company (anyone Director)
• The interest of Directors in other Entities.

The procedure of Public Company Incorporation/ Registration:

• Application for Name approval after login on MCA Portal e-Form Spice+ Part A with maximum Upto 2 names
• Obtain DSC of Proposed Directors
• Register DSC of Proposed Directors as Authorized Signatory on the MCA Portal.
• Obtain DIN of Proposed Directors if no. of Proposed Directors are more than 3 (Maximum upto 3 DINs can be allotted along with incorporation in Spice+ Part b
• After getting name approval prepare Documents like MOA, AOA, NOC from Landlord, DIR-2, Interest in other entities etc.
• Filing of e Forms of Incorporation after login on MCA Portal only such as Spice+ Part b, Agile Pro – S, MOA, AOA, INC 9
• Download the forms
• Affix DSC of each director, Subscriber and Practicing Professional (Practicing CS, CA, CMA)
• Upload the forms after login to MCA Portal
• Make Payment for PAN/ TAN application
• Stamp duty Payment.
• Wait for Certificate of Incorporation and Allotment of PAN/ TAN

After Satisfaction of Documents, MCA will Grant COI (Certificate of Incorporation), PAN, TAN, ESI PF Registration Number, Shop and Establishment Registration (Optional), GST Registration (Optional)

MCA provides a Certificate of Incorporation within 1 to 30 days.

Why CS Club India?

CS Club India is a group of well-experienced professional who helps you in correct decision-making as per requirement for your business and helps you to register your business and grow faster. We value all our customers and provide them with our best services. We ensure for a fast and smooth process and 100% success results in the case of Public Company Incorporation.

CS Club India helps you to register your Company across India at a very reasonable price. You can register your Company with us in a few easy steps. We will provide you with facilities at the time of Incorporation. Such as:

• Name Reservation (RUN Application)
• DIN (Directors Identification Number) allotment
• DSC (Digital Signature Certificate) of Directors
• Certificate of Incorporation
• PAN & TAN
• ESI, PF Registration
• Draft your Company’s constitution (MOA & AOA)
• Opening of Bank Account after Incorporation
• Share Certificate
• GST Registration Certificate (Optional)
• Shop and Establishment Registration (Optional)

After Incorporation also assists you to run your business in the long term. We Provide you:

• Free consultation for the understanding of the scope of works
• Assisting in the opening of Current Bank Account.
• Holding First Board Meeting within 30 days from the date of Incorporation and subsequent Board Meetings.
• Appointment of the First auditor in the First Board Meeting and filling of Respected forms.
• Filling e-Form of Commencement of Business within 180 days from the date of Incorporation
• Understanding of applicable rules and legal requirements of your Company
• Directors KYC
• Holding AGM (Annual General Meeting)
• Annual Filling
• And other assistance and consultation etc.