Public Limited Company
What is a Public Limited Company?
A Public Limited Company under Company Act 2013 is a company with limited liability whose stock can be acquired by anyone, either privately through IPO (initial public offering) or via trading on the stock market. A Public Limited Company is strictly regulated and is required to keep shareholders updated with its finances.
Why should I register a Public Limited Company?
- Since anyone can invest in a public limited company, the capital of the company is enhanced.
- Being listed on a stock market ensures greater visibility for company. This may attract better business opportunities.
- Since the shares are sold to the public at large, the risk of the market is spread out.
- Due to less risk, there is greater opportunity to grow the business by investing in new projects from money raised by the public.
How to register a Public Limited Company?
- Application for Digital signature certificate (DSC) of one of the directors along with self-attested copies of identity and address proof.
- DIN for all the directors.
- An application is required to be made for the selection of the name of the company.
- An application with the main object clause that defines the purpose of the company after its incorporation.
- Submission of the application to ROC along with the required documents like MOA, AOA, duly filled Form DIR – 12, Form INC – 7 and Form INC – 22 is needed.
- Payment of the registration fees to the ROC.
- After obtaining an approval from the ROC, the company should apply for the ‘certificate of business commencement’.
Proofs required for registration of a Public Limited Company
- ID Proof of all the shareholders and directors
- Proof of address of all the directors and the shareholders
- PAN number of all the shareholders and directors
- Utility Bill of the proposed office i.e. proposed registered office for the company
- An NOC from the landlord where the office of the company will be situated
- Director Identification Number (DIN) of all the directors
- Digital Signature Certificate (DSC) of the directors
- Memorandum of Association (MOA)
- Articles of association (AOA)