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Public Companies are strictly regulated, and are required by law to publish their complete and true financial position so that investors can determine the true worth of its stock (shares).A public limited company (PLC) is the legal designation of a limited liability company (LLC) that has offered shares to the general public and has limited liability. A PLC’s stock is offered to the general public and can be acquired by anyone, either privately, during an initial public offering or through trades on the stock market.

Process for Registering Public Ltd Company

Applying DIN&DSC

DSC and DIN for all directors are required.Affidavit and declaration by first subscribers and Directors should be prepared

Name approval

4-6 proposed names should be provided that should be unique and suggestive of company business.

Document Submission

Duly filled Application along with required documents should file with the RoC.

Company Registered

Once your Company is Incorporated. Incorporation Certificate will be issuedh the RoC.

How To Register Public Ltd Company
Filing the Form
The application form for public limited company registration must be completed online. This must be done through the respective MCA portal. Along with this, all documents have to be submitted.
Applying for DSC and DIN
In the next step, the applicant must apply for a Digital Signature Certificate and Director Identification Number. The digital signature certificate would provide authenticity for processing electronic documents. Apart from this, the DSC also helps in carrying out electronic signatures as per the requirements of the act. Applying for a DIN will allow the company to recruit a minimum number of directors to carry out the requirements of a public limited company.
Verifying the Name of the Company
In this step, the name of the company is checked and verified as per the requirements of the Ministry of Corporate Affairs (MCA). The name of the company must not be similar to any other name. Apart from this, the name of the company must not breach any provisions related to intellectual property law in India.
Filing SPICe Form
When the name of the public limited company is approved by relevant authorities, then the applicant would go in for filing SPICe form for securing the certificate of Incorporation. When the SPICe form is filed by the applicant, the DIN number would also be allocated to the directors of the company.
Submitting Documents
Once the above steps are carried out, the applicant must submit all the documents to the MCA. The documents which have to be filed with the authorities will include the memorandum of association and articles of association. Along with this, the company has to submit collateral documentation such as the mission, goals, objectives and long term aspirations of the company.
Incorporating the Company
After verifying the process, the MCA and Registrar of Companies will issue the certificate of incorporation of the public limited company. This certificate as a legal document to prove the status of the public limited company.
Opening a Bank Account
In the final step, a bank account has to be opened in the name of the public limited company. This must be open to carry out day to day transactions on behalf of the organisation. This bank account must be differentiated from opening an individual bank account.
Documents Require For Public Ltd Company
  • Copy of PAN Card of directors
  • Passport size photograph of directors
  • Copy of Aadhaar Card/ Voter identity card
  • Copy of Rent agreement (If rented property)
  • Electricity/ Water bill (Business Place)
  • Copy of Property papers (If owned property)
Benefits for Registering Public Ltd Company
  1. A company continues to exist irrespective of the status of the owners.
  2. A shareholder is liable only to the extent of unpaid amount on his holding.
  3. A company enjoys separate legal identity unlike partnership firms.
  4. Companies have better avenues for borrowing funds unlike other forms of business.
  5. Public company can invite public to subscribe its shares unlike a private limited company.
  6. There is no restriction on transferability of shares. A shareholder can transfer his shares to any person.

 

FAQS OR Frequently Asked Questions
A Public Limited Company must have a minimum of three Directors and seven shareholders.
The director needs to be atleast 18 years of age. Any individual can become the member of the Public limited company including foreigners/NRI’s.
A limited company must hold a Board Meeting at least once in every 3 months. In addition to the Board Meetings, an Annual General Meeting must be conducted by the Limited Company, at least once every year.
Yes, a NRI or Foreign National can be a Director in a Public Limited Company after obtaining Director Identification Number. However, at least one Director on the Board of Directors must be a Resident of India.
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