Grasp the complete procedure of public limited company registration by our company, JustStart. We provide a highly expertised public limited registration consultancy in India.
JustStart has been known for its virtuosity consultancy for years now. We make sure to come up with the highest beneficiaries for the online registration consultancy for our clients. This has always resulted in making our clients comfortable & also satisfied with our work.
Registration Procedure of Public Limited Company:
Approval of Name
Visit the ROC (Registrar of Company) to set up the name of your firm. It must be unique and should not match with anyone else’s company or any Registered Trademark.
Documents of Directors
ID proof like voter ID card/ Driving license and Passport are all-important to the directors for any further procedures. Their bank statements/ mobile bills/ electricity bills or water bills are essential for the address proof.
Board Signatory
Out of the directors and shareholders, there has to be some board signatory of the company. It helps in decision-making and also management easy in the future.
Share Holding
The amount of shareholding of all the shareholders of the company is also required for the record.
Memorandum of Association
Directors have to make the objectives of the company at the very beginning of its establishment. Companies also have to keep in mind all the factors related to the general public. MOA requires the signature of the board signatory as well.
Article of Association (AOA)
Rules and regulations of the company should be made to reduce the chances of conflict in the future. It is made for internal management. AOA also essentially needs the signature of the board signatory.
Certificate of Incorporation
If the MOA and AOA seem valid and also appropriate to the registrars, they will further issue the Certificate of Incorporation to the company.
What is a Public Limited Company?
A public company mandatorily has to have 7 members and the utmost could be infinity under the provisions prescribed by Companies Act, 2013.
Invitation to Public
Public limited companies are allowed to invite the general public to subscribe to the shares of their company. The general public could easily participate in these companies by buying shares of the company. If the company is listed on the stock exchange, only then the general public could participate in such companies.
Limited liability
Shareholders of these companies have limited liability. Shareholders are not liable for their personal assets. Only the amount of shares they hold in the company gets benefits or losses.
Capital required
There is no minimum capital required for a public limited company. Further capital will depend on the needs of the business.
Public Limited Registration Consultancy-
JustStart helps in completing the whole registration process. Out of 3 directors that are needed, one must be residential. If any director or shareholders get replaced or have to leave the company due to retirement, death or insolvency even then the company will keep in their existence. In these companies, “limited” is used as a suffix right after the name of the company. We take hold of all your required documents and then file the application to the Ministry of Corporate Affairs. Your company could get ready quickly if you have all your documents ready and well fits the requirements. After being checked, reviewed, and also approved you’ll receive a Certificate of Incorporation. We assure help in diminishing all the queries and barriers that come in between.
Advantages of Public Limited Company:
In a public limited company, Shareholders’ liability fully depends on the number of shares they hold in the company. And not their personal assets. Helps in capital expansion.
Since the general public also participates, companies could raise high funds to invest in their businesses.
Companies keep uploading their annual reports and important documentation. This brings high transparency.
Companies keep their shareholders updated about their moves and profits of the company.
Shares of these companies are easily transferable. Less risk the risk is divided widely.
Foundation of Perpetual Succession. Shares of public limited companies could even be listed as Initial Public Company (IPO).
Disadvantages of Public Limited Company:
Directors lose some control of the company due to sharing authority among so many people.
There is no limitation on the members of the company.
It establishes managerial problems because of the large number of members.
Decision-making also becomes tough at some points.
Profits get divided among all the shareholders which brings less to the hands of the directors.
Public limited companies seem to have high expenses.
Documents required for the formation of a public limited company:
- ID proof of directors and shareholders.
- Address proof of directors and shareholders.
- Passport size photo (recognisable).
- Registered office address proof (if any)
- If the company’s place is rented, you’ll have to bring Objection Certificate (NOC) from the renterrenter itself.
- Article of Association.
- Memorandum of Association.
- PAN Card number of the directors.
- Digital signature certificate of the directors and shareholders.
- Directors’ Identification no. of directors.
Online Public Limited Company Registration Procedure
The compulsion of all your documents and also the copies of them. You’ll need to open your company’s bank account. It has several benefits in transactions in business. You need to file a form of INC- 20A within 180 days of the corporation. Also, acquire to conduct the board meeting to appoint an auditor within 30 days for the company. These things essentially are done within the given time limit or result in the expiration of the date. ROC also produces and issues Unique Identification Numbers to the company.
Documents required for the opening bank account of the public limited company:
- Certificate of Incorporation
- ID proof of authorized signatory.
- Address proof of registered office address.
- Memorandum of Association
- Article of Association
- List of directors and their details.
- Passport size photo (recognisable)
- Agreement of directors (board resolution)
- Proof of appointment of directors.
- PAN Card of the company.
- Directors’ ID proof and authorized signatories.
JustStart has been consulting many companies and also looking forward to helping you reduce your complications. We highly contribute to decreasing our client’s problems by providing them with the best consultancy online and offline. We foremost care about our clients’ comfort and safety.
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