Public Limited Company

As per Companies Act, 2013 ('Act') regulates the establishment and working of a public limited company. A public limited company offers shares to the general public and has limited liability. It can be listed on the stock exchange or it can be privately owned.

Public companies are subject to increased financial regulation, disclosure and reporting requirements compared to private companies.

However, creating a public limited company is preferable because it offers the benefits of a private limited company with features like simple transferability and share of ownership, separate legal body, Limited Liability etc.

To be a Public Limited Company (PLC) in India, a company must meet the Following key criteria:

• Shareholders: Minimum of seven shareholders.
   
• Directors: At least three directors, with one being a resident of India.
   
• Company Secretary: Required if paid-up share capital is ₹5 crore or more.
   
• Public Offering: Must comply with Securities and Exchange Board of India (SEBI) regulations if listing shares publicly.
   
• Prospectus: Must issue a detailed prospectus for public offerings.
   
• Regulatory Compliance: Adhere to the Companies Act, 2013, and other regulations.
   
• Auditing: Annual accounts must be audited and filed with the Registrar of Companies (RoC).
   
• Public Disclosure: Annual returns and financial statements must be filed with the RoC and are accessible to the public.
   

These requirements ensure transparency, accountability, and regulatory compliance for public companies.

• Limited Liability: The liability of shareholders is limited to the amount unpaid on their shares.
   
• Separate Legal Entity: The Company has its own legal identity, separate from its shareholders.
   
• Share Transferability: Shares can be easily transferred, allowing for greater liquidity and capital raising.
   
• Increased Credibility: Often seen as more credible by investors, lenders, and the public.

• Complete the application form for public limited company registration.
• Apply for DSC and DIN.
• Verify the company name.
• Submit the SPICe form for incorporation.
• Submit the required documents.
• Obtain the Certificate of Incorporation from the Registrar of Companies (ROC).

Director Identification Number (DIN)

• Photographs
• Identity Proof: PAN card (mandatory for Indian nationals)
• Address Proof: Passport, voter ID, driving license, or Aadhar card
   

Digital Signature Certificate (DSC)
 

Memorandum of Association (MOA)

Articles of Association (AOA)
 

Proof of Registered Office Address

• Utility bill (electricity, water, gas, or telephone) not older than 2 months
• Rental agreement, if applicable
• NOC from the owner of the premises

Identity and Address Proof of Subscribers and Directors

Additional Documents:

• Prospectus (in case of inviting public subscription)
• Statutory declaration in form INC-8 or INC-9

Additional Compliance and Requirements

• Minimum Directors and Shareholders: A Public Limited Company must have at least three directors and seven shareholders.
• Prospectus: Issuing a prospectus to the public is mandatory before raising funds.
• Statutory Meetings: Holding statutory meetings and maintaining transparency through public disclosures.

• Guidance on Legal Requirements: Ensuring compliance with all legal stipulations as per the Companies Act, 2013.
   
• Document Preparation: Assisting with the preparation and submission of necessary documents.
   
• DSC and DIN Application: Helping in obtaining Digital Signature Certificates and Director Identification Numbers.
   
• Name Approval: Assisting in the verification and approval of the company name.
   
• Form Submission: Handling the submission of the SPICe form and other required documents.
   
• Obtaining Certificate of Incorporation: Ensuring the successful registration of your company by obtaining the Certificate of Incorporation.
   
• Ongoing Compliance: Providing support for ongoing compliance requirements, including statutory meetings and public disclosures.