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APPLY FOR PUBLIC LIMITED COMPANY REGISTRATION

PUBLIC LIMITED COMPANY APPLICATION FORM

INSTRUCTIONS TO FILL THE APPLICATION FORM FOR PUBLIC LIMITED COMPANY

ENTER THE APPLICANT’S FULL NAME AS MENTIONED ON AADHAR CARD PROVIDED BY UIDAI.
ENTER THE APPLICANT’S CORRECT MOBILE NUMBER. DO NOT ADD COUNTRY CODE.>
ENTER THE APPLICANT’S COMPLETE ADDRESS INCLUDING THE PINCODE.
CHOOSE YOUR STATE FROM THE GIVEN OPTIONS.

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.

Features Of a Public Limited Company

  • ⦿ 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 personal 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 Board 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.
  • ⦿ 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.
  • ⦿ Object clause is a written statement that signifies the objectives behind the formation of the company.
  • ⦿ Other requirements such as 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

  • ⦿ For registering a Public Limited Company, visit our website https://filinglounge.com/
  • ⦿ 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 https://filinglounge.com/public-limited-company.php for registering your company and getting 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 taking 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 lesser privacy regarding the company matters.

Why to 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

Frequently Asked Queries

1. 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.

2. 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.

3. 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.

4. Do Shareholders help in business management?

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

5. Who takes 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.

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

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

7. What are MOA and AOA?

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

8. 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 subsequent 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
9. 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.