Public Limited Company is those types of companies where the least number of members is seven and there is no limit on the maximum number of members. A Public Limited Company has most of the characteristics of a Private Limited Company. A Public Limited Company has all the advantages of Private Limited Company and the ability to have any number of members, ease in transfer of shareholding and more transparency. Identifying marks of a Public Limited Company are name, number of members, shares, formation, management, directors, and meetings, etc.
There are Three Categories of Public Limited Company
Public Limited Company Registration
A company is a legal entity and a juristic person established under the Act. Therefore a company form of organization has wide legal capacity and can own property and also incur debts. The members (Shareholders/Directors) of a company have no liability to the creditors of a company for such debts. That is why registration of Public Limited Company in necessary. A company has perpetual succession, that is continued or uninterrupted existence until it is legally dissolved. A company, being a separate legal person, is unaffected by the death or other departure of any member but continues to be in existence irrespective of the changes in membership.
- Identity and Address Proof
- Registered Office Proof
- Address proof for all directors and shareholders
- Signed incorporation documents
Procedure Required for Registration Completion
- Complete Form
- Obtain DSC and DIN.
- Verification and Name Approval
- Document Submission
- Completion of Registration
Benefits of a Public Limited Company
- Raising capital through the public issue of shares
- Widening the shareholder base and spreading risk
- Other finance opportunities
- Growth and expansion opportunities
- Prestigious profile and confidence
- Transferability of shares
- Exit Strategy
Minimum Three (3) Directors and Seven (7) shareholders required to register a Public Limited Company.
It should be Rs. 5,00,000/- and not less than that.