Public Limited Company Registration in India - Online Procedure
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OVERVIEW
What is Public Limited Company Registration?
Abbreviated as PLC, a public limited company is a type of business structure in which a corporation offers its shares (units of ownership in the company) to the general audience. Upon successful purchase, share buyers become shareholders-who are entitled to enjoy profit margins and bear losses in a company to a limit. Thus, the name Public Limited Company.
- Liability of Partnership: Shareholders bear limited liabilities for the loss suffered by the corporation.
- Joint Liability: Shareholders do not share joint liability.
- Compliances: Number of compliances to be fulfilled by business owners such as ROC, Tax payment, and audit have medium difficulty.
- Governing Documents: The governing operations are based on an agreement. Limited number of document preparation required.
- Ownership & Management: The shareholders own the public limited companies and are managed by directors.
- Members required: Minimum 7 members and Minimum 3 directors
- Capital: Unlimited Fundraising
- Business scope: Unlimited growth and expansion opportunities
Register
How to Register a Public Limited Company?
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Public Limited
Minimum 7 members, and min. 3 directors/ DIN number/ PAN/ Identity proof etc.
Apply for DSC (Digital Signature Certificate)
Because a public limited company’s registration can be done online, a digital signature is typically required when submitting forms to the portal of the Ministry of Corporate Affairs. A DSC is required for all proposed directors and subscribers to the memorandum and articles of association.
Name Approval
The directors and promoters of the company send the proposed name for the business and it is approved by the Ministry of Corporate Affairs (MCA) after careful consideration.
Filling up relevant forms
Attach the following forms:
- SPICe Part b
- SPICe MOA
- SPICe AOA
- SPICe INC 9 Agile Pro
Get Incorporation certificate
The MCA inspects the application based on the document submission and issues a Certificate of Incorporation of the public company.
Uploading of forms on MCA
Scan and upload the documents.
Required Documents
Documents Required To Register a Public Limited Company
- PAN Card: A power of attorney for representation purpose
- Identity Proof: For Directors/Shareholders Identity Proof-aadhar card/voter id/passport/Driving Licence
- Passport Size Photos: (Latest photos of the Directors/Shareholders)
- Business Address Proof: (Latest electricity bill or telephone bill of the registered office)
- Rent Contract: (If Rented)
- Residential Proof: For Directors/Shareholders Resident Proof-Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- NOC: (From the Owner)
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Locations
Public Limited Company Registration in Other States and Cities
FAQs
LET'S CLEAR ALL THE DOUBTS!
A public limited company is a business entity that offers its shares to the general public, also known as shareholders.
- Bharat Heavy Electricals Limited (BHEL).
- Delhi Transco Limited (DTL).
- Hindustan Corporation Petroleum Limited.
- Oil and Natural Gas Corporation Limited (ONGC).
- Indian Oil Corporation Limited.
- McDonald's
- Ease in capital funding
- More finance opportunities
- In the event of a financial loss, liabilities are limited.
- Ease in share transferability:
- Growth and expansion opportunities
Public limited companies have certain features that allow individuals to easily distinguish them from other business entities. PLCs are:
- Led by shareholders and managed by a board of directors.
- They have longer life spans.
- It has unlimited shareholders.
- Can offer their shares for sale.
- Has a minimum of three directors.
- Can frame its own articles of association.
- It can invite the public to subscribe to its shares.
Public limited companies can be registered online by submitting required documents to the Registry Office, facilitated by the online portal of the Ministry of Corporate Affairs. It can be done by hiring an experienced and reliable :
Online Public Limited Company Registration consultancy services.
Any individual or organisation looking to establish a PLC firm must provide a list of documents such as PAN cards, identity proof, registered address proof, etc.
These documents must be supplemented by other forms such as SPICe Part b, SPICe MOA, SPICe AOA, 9 Agile Pro, INC. 9
Anyone looking to register a public limited company in India must fulfill the following eligibility criteria:
- At least three directors are required.
- Have all directors' DINs.
- Minimum number of seven shareholders
- digital signature certificate of director and shareholder
- should fulfill objective clauses as laid down by the MCA.
Step 1: Complete the form
Step 2: Obtaining DSC and DIN
Step 3: Obtaining company name verification and approval
Step 4: Completing the SPICe Form
Step 5: Document Submission
Step 6: Acquiring the company's incorporation certificate
Step 7: Open an active account in the name of the company
Earlier, it was. But not necessarily now. As per the latest guidelines, the rule was eliminated in order to facilitate the ease of registering companies in India.
PLCs can evolve into IPO companies over time. However, they need to meet certain compliance as laid down by SEBI and complete other regulations.
Yes, Public limited companies can invite foreign investment directly
