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Documents Required for
Public Limited Company Registration
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Public Limited Company Registration in India

A Public Limited Company is a joint-stock association of members and is managed by the rules and regulations laid by the government under the Companies Act, 2013. The company has the right to list the stocks for the general public to generate capital and its stocks can be easily purchased by people through IPOs(Initial Public Offerings) or by trading on the stock exchange. Here is an overview of Public Limited Company Registration.

A public limited company (PLC), also referred to as a publicly traded company in some countries, is a type of business structure that allows it to raise capital by selling shares to the general public. This is different from a private limited company, which restricts ownership to a smaller group of people.

  • As per the Companies Act 2013, the minimum number of Directors that a Public Limited company needs before the formation is 3. However, there is no such upper limit on this number.
  • Public Limited Companies have limited liabilities on their shareholders and Directors. The shareholders/ directors are not responsible for any crisis and their investments are safe from the losses incurred.
  • For the formation of Public Limited Companies, a minimum of Rs. 5 lakhs is needed as paid-up capital.
  • A Public Limited company can borrow from various banks and financial institutions and these agencies offer them loans without any issue.
  • There can be a minimum of 3 and a maximum of 12 Boards of directors in a Public Limited Company.
  • A Public Limited Company should have a minimum of 7 subscribers to the memorandum of association. These subscribers are members of the company.

Key Requirements of Registering a Public Limited Company

Given below are the necessities for the formation of a Public Limited Company:

  • The lowest number of shareholders can be 7 and the uppermost number of Directors can be 3. However, there is no upper limit in both cases.
  • Public Limited Companies can be registered only if the paid-up capital exceeds or is equal to Rs. 5 lakhs and not below that.
  • Due to the current scenario, more and more companies are opting for online processing, and therefore Digital signatures serve very beneficial purposes. Thus, the Digital signatures of one of the Directors are a must.
  • The Digital Identification Number (DIN) of all the Directors is essential.
  • An application is to be written to select the brand name/ company name.
  • Another application mentioning the object clause of the company has to be presented.
  • An object clause is a written statement that signifies the objectives behind the formation of the company.
  • Other requirements such as a Memorandum of Association (MOA), Articles of Association (AOA), duly filled DIR-12 form (for appointment/change/resignation of directors), INC-7 form (for incorporation/registration), INC-22 form (in cases where the registered office is being transferred) have to be submitted to the ROC( Registrar of Companies).
  • The required processing fee to the ROA( Registrar of Companies).

Public Limited Company Registration

  • To register a Public Limited Company, visit our website FilingLounge.
  • Under the Business Formation tab, choose Public Limited Company from the drop-down menu.
  • A form appears where the basic details Like the name, mobile number, valid email ID, and valid address need to be filled and submitted.
  • Pay the required fee among the various payment options.
  • After the form is filled up and payment is done, our team at FilingLounge will assist you shortly to carry forward the application process.

Documents Required For Public Limited Company Registration

The following list of documents are required for the incorporation of a Public Limited Company:-

  • Identity proof - any of these (PAN Card/ Voter ID/ Aadhar card/ Driving License).
  • Utility bills - Electricity bills/ Mobile bills/ rent of the registered office(not older than 3 months)
  • Address proof of all the shareholders and Directors
  • Digital Signature Certificate(DSC) of the Directors
  • Director Identification Number(DIN) of the DIrectors
  • Memorandum of Association( MOA)
  • Articles of Association (AOA)

Public Limited Company Registration Fee

With Filinglounge, the process of registering a Public Limited company is way too simplified and hassle-free. Kindly visit our website FilingLounge to register your company and get the fee-related details.

Advantages of Public Limited Company

Separation of Powers

Public Limited Companies are separate legal companies and function independently. Also, they are entitled to have their distinctive identity by having a PAN, bank account, assets, etc.

Generation of funds

Public limited companies seem quite attractive to investors such as banks and other financial institutions. Also, these companies can raise capital by issuing equity or preference shareholding or by issuing security/insecurity debentures.

Ease of share transfer

This is a major benefit of Public Limited Companies that the shares can be easily transferred to other companies or individuals. Also, if the director needs to be changed for perpetual succession, it can be easily done by completing a few formalities.

Expansion opportunities

Public limited companies are on the lower side of risk when it comes to business expansion. They are eligible to get financial aid easily and they can generate funds by listing their stocks on the exchange. Also, as the shares are available to a wide range of people, therefore, the uncertainty of the market fluctuations doesn't have much impact on the overall. Thus, Public companies have dignified growth potential.

Disadvantages of Public Limited Company

Increased control of Government

As Public Limited Companies are larger organizations, they must meet the regulatory standards set by the government. Hence, there’s increased surveillance on them by the government agencies like the IRS and all the policies and procedures are required to be fulfilled in all terms.

Strict observance of all policies

Public Limited Companies must furnish all the reports to the overall public as well as to the regulating bodies. There should be clear-cut transparency and it must be noted that the rules and regulations are strictly followed.

Difficulty in making decisions

The decisions of the Public Limited Companies are in the hands of many people. Thus, decisions regarding many trivial matters might get delayed due to differences in opinions among the members.

Privacy may be hampered

Public Companies have to let their company details open to the public and therefore there is less privacy regarding the company matters.

Why Choose a Filing Lounge?

Filing Lounge has an experienced team of professionals who can serve as the best financial consultants for all your queries. Our charges are inexpensive and once you attach with us, it becomes our responsibility to handle your queries and all obligations with utmost precision. Please follow our Facebook Page for upcoming updates. Also, feel free to contact us via mail at care@filinglounge.com.

Related Guides

Documents Required For Public Limited Company

Proprietorship vs Limited Liability Partnership (LLP) vs Company

Features Proprietorship Partnership LLP Company
Definition A sole proprietorship is an unregistered business entity managed by a single individual. A legal contract between multiple parties to jointly manage and run a business operation. A business type that combines aspects of a partnership and the limited liability of a corporation. A registered business where owners and shareholders have limited liability.
Ownership
  • Single individual
  • Min 2 Partners
  • Max 50 Partners
  • Designated Partners: Min 2(No upper limit)
  • Min: 1 shareholder (for a private company), 7 shareholders (for a public company)
  • Max: 200 shareholders (for a private company), no upper limit (for a public company)
For One Person Company
  • Minimum: 1 individual
  • Maximum: 1 individual
Registration Time 7-10 working days
Promoter Liability Unlimited Liability Limited Liability
Documentation
  • Partnership Deed
  • PAN card of the partnership firm
  • LLP Agreement
  • Incorporation Certificate
  • PAN card of the LLP
  • MOA
  • AOA
  • Certificate of incorporation
  • PAN card of the company
Governance No specific governing law Governed by the terms outlined in the partnership deed Governed by the LLP agreement Governed by a formal structure including a Board of Directors
Transferability Business cannot be transferred Ownership transfer requires the consent of all partners as outlined in the partnership deed. Transferable Easily Transferable for public companies. In private companies, there might be some restrictions.
Compliance Requirements
  • Income tax filing if the turnover exceeds Rs. 2.5 lakhs.
  • Must file ITR 5
  • Must file ITR 5
  • File Form 11
  • Form 8
  • MCA filing
  • Auditor's appointment
  • File ITR 6

Public Limited Company FAQ's

What is the minimum requirement of members in a Public Limited Company?

Public Limited Companies need a minimum of 7 shareholders and 3 Directors for their incorporation. However, there is no upper limit on the maximum number of shareholders.

Can someone of foreign origin be the director of the Public limited company?

Yes, an individual of foreign origin may be a director in a Public Limited Company after obtaining the Director Identification Number. However, among the Directors, one must be a citizen of India.

Is the Director of a Public Limited Company liable to pay off the debts?

No, Public Limited Companies haven’t any such liabilities on the Directors to pay off the debts. The liability is limited to the face value of each share the members own.

Do Shareholders help in business management?

A Public Limited Company ensures separation of ownership from management and hence, the shareholders have no right to the management of the business.

Who makes Decisions in an exceedingly Public Limited Company?

The deciding powers in an exceedingly Public Limited Company, rest in the Board of Directors, and all the decisions are jointly taken by them.

What is the time taken for registering a Public Limited Company?

Normally, it takes 8-15 days to register a Public Limited Company. However, it may take many more days and depends on various factors.

What are MOA and AOA?

MOA( Memorandum of Association) and AOA( Articles of Association) are the set of rules provided by the Companies Act, 2013 and signify the objectives and therefore purpose of the company.

What documents are required by an NRI to become a Director in a public limited company?

To become the Director in a public limited company, an NRI must furnish the following documents:-
  • A copy of the Passport attested by the consulate of the Indian embassy or Foreign Public Notary.
  • A copy of any utility bill/ Driving License/ Bank Account statement duly attested by the Consulate of the Indian Embassy/ Foreign Public Notary.

When should the share capital be deposited?

The share capital should be deposited within 2 months from the date of incorporation into the company’s bank account.

Related Business Registrations

In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.

FSSAI Registration
IE Code
Trademark Registration
Copyright Registration
Salaried Tax-filing
GST Return Filing

MCA Compliance

Each registered entity is required to meet its compliance duties at the close of each financial year. This generally includes auditing financial statements, filing income tax returns, and submitting annual forms to the Ministry of Corporate Affairs (MCA).

Compliance For Form Due date Penalty
Commencement of Business Intimation to Registrar for Commencement of Business Within 180 days from incorporation INR 50,000 on company and INR 1,000 per day on directors for each day of default
Annual KYC of Directors DIR 3 E-KYC 30th September of every year INR 5,000 for late filing
Appointment of Auditor Form ADT 1 Within 15 days of the AGM INR 300 per day (max INR 12,000)
Financial Statements Form AOC 4 Within 30 days from the AGM INR 100 per day of default
Annual Return Form MGT 7 Within 60 days from the AGM INR 100 per day of default

All Limited Liability Partnerships (LLP) in India must file annual returns with the Ministry of Corporate Affairs (MCA). FilingLounge provides affordable services to help you keep your LLP compliant.

LLP Compliance Form Due date Penalty
Annual KYC of Directors DIR 3 KYC 30th September of every year INR 5,000 for late filing
Annual Return Form 11 May 30th every year INR 100 per day of default
Statements of Accounts and Solvency Form 8 30th October every year INR 100 per day of default (minimum penalty INR 10,000)

In addition to the filings listed above, there may be other compliance requirements relevant to LLPs. To ensure all compliance needs of your LLP are met, please seek assistance from a Filinglounge Advisor.

Entity Compliance Form Due date
Private Limited Company Annual Return MGT-7 Within 60 days from the conclusion of the AGM
Financial Statements AOC-4 Within 30 days from the conclusion of the AGM
DIR-3 KYC DIR-3 KYC 30th September every year
Return of Deposits DPT-3 30th June every year
Appointment of Auditor ADT-1 Within 15 days from the conclusion of the AGM
Income Tax Return (Non-audit case) ITR-6 31st July every year
Income Tax Return (Audit case) ITR-6 30th September every year
Annual GST Return GSTR-9 31st December of the subsequent financial year
MSME Form Form 1 (MCA) half-yearly return by 31st October (April to September), & 30th April for the period October to March every year
Limited Liability Partnership Income Tax Return (Non-audit case) ITR 5 31st July every year
Income Tax Return (Audit case) ITR 5 30th September every year
Annual Return Form 11 30th May every year
Financial Statements Form-8 30th October every year

Note : There might be extra filings needed depending on your business type and activities. Talk to a FilingLounge advisor to get the right guidance for your company's compliance.