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Public Limited Company
Introduction
A public company is a company which is formed by many individual coming together for a commercial purposes. Usually, a public company does offer or trades its shares to the general public, even on the stock exchanges (If listed). It can be formed for any of the mentioned business activity i.e. trading, manufacturing or provider of services etc
Business Format Description
Formation of Public limited Companies requires, minimum 7 and maximum individual/nonindividual members has no limit. The liability of members are limited up to the contribution of capital by them. Company is not required to contribute minimum five lakh rupees as share capital(as per companies amendment act 2015). There is a need to appoint Independent director/s after fulfillment of certain conditions also. Minimum 3 directors are required to operate the company. Shares are publicly transferable.
Eligibility :
• Directors must have minimum age of 21 years and maximum age of 70 years.
• Directors should not be disqualified under section 164 of the companies act, 2013.
• No proceeding under COFEPOSA should be pending, against the directors.
• Directors should not be convicted of any imprisonment over 7 years.
• Persons with Sound Mental Health can start a company.
• Persons recognized as Insolvent by the court of law cannot be a director the company, until such insolvency omits.
• Director Identification Number is required u/s 152 of the companies act, 2013
Required Documents
• PAN of Every Promotor/Director/Managerial Personnel.
• AADHAR of Every Promotor/Director/Managerial Personnel.
• Passport Size Photo of Every Promotor/Director/Managerial Personnel.
• Digital Signature Certificate of Every Promotor/Director/Managerial Personnel.
• Bank Statement with latest entries , not later than 2 months of Every Promotor/Director/Managerial Personnel.
• Passport of Every Promotor/Director/Managerial Personnel. (Mandatory, if available)
• Voter ID/ Driving License of Every Promotor/Director/Managerial Personnel.
• Recent Utility bill as a address proof of the companies registered place of business.
• Memorandum of Association (MOA)
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₹799
inclusive tax
Public Limited Co-(Expert Advice/Consultancy Charges)
-> Get expert advice.Our team have experienced CA/CS/Legal Council.They will Guide you about registration process, documentation,legal requirements,advantage pvt.ltd. formation,taxation matters,legal compliances etc.
₹799 per year
-
₹14999
inclusive tax
Public Limited Co-(Gold Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹14999 per year
-
₹34999
inclusive tax
Public Limited Co-(Platinum Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹34999 per year
-
₹44999
inclusive tax
Public Limited Co-(Diamond Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹44999 per year
Benefit of a Particular Format:
Seprate Legal Entity
Company is a separate legal entity, which can sue as well as can be sued.
Assets and Liabilities
Company can hold assets and liabilities in its own name.
Perpectual Existence
Existence of company is perpetual. (having Unlimited Life)
Liability
Liability of Members/Investors are limited.
Transparency and Efficiency
Provides best transparency and efficient working culture as it is governed by its Memorandum and article of association.
Funds and Resources
Due to extensive base of capital base, there is ample amount of capital find involved
Prospectus
A prospectus is a comprehensive statement of the affairs of the company issued by a public limited company for its public and there is a requirement under the Act for public limited companies to issue a prospectus.
Seprate Legal Entity
Company is a separate legal entity, which can sue as well as can be sued.
Assets and Liabilities
Company can hold assets and liabilities in its own name.
Perpectual Existence
Existence of company is perpetual. (having Unlimited Life)
Liability
Liability of Members/Investors are limited.
Transparency and Efficiency
Provides best transparency and efficient working culture as it is governed by its Memorandum and article of association.
Funds and Resources
Due to extensive base of capital base, there is ample amount of capital find involved
Prospectus
A prospectus is a comprehensive statement of the affairs of the company issued by a public limited company for its public and there is a requirement under the Act for public limited companies to issue a prospectus.
Process :
- Applicant has to fill up the form for required incorporation services
- Stay Relax, our representative will connect with you at earliest
- Get your documents ready, Our executive will ask for the necessary forms/documents/deeds.
- Our executives will finally scrutinised the forms/documents/deeds provided by you.
- After valid scrutiny, our team will continue preparing necessary attechments required for E-Filing
- After submission of E-Forms,, approval will be granted by Registrar
- Congratutaion !! Your are ready to Kick Start your venture.
Frequently Questions :
Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe -INC-32), withe MoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only.
A proposed name can be reserved for the purpose of incorporation of a company or change of name of an existing company through the RUN service by logging into the MCA portal along with a fee of Rs. 1000/-. Further, you may use the SPICe form for the integrated process of name reservation and incorporation of a company.
An approved name is valid for a period of
(i) 20 days from the date of approval (in case name is being reserved for a newcompany) or
(ii) 60 days from the date of approval (in case of change of name of an existingcompany)
The minimum paid up capital at the time of registration of a company shall be as :
– Public Limited Company: Rs.7/-
Invariably, the Balance Sheet and Annual Return have to be filed every year. Other
documents such as, Return of Allotment (Form No. Pas-3), Change of Registered office
(Form No. INC-22), Change among the Directors (Form No. DIR-12), Charges (Form
No. CHG- 1, 9, 4) etc., have to be filed within the due date from the events taking place
in the company as per the Companies Act, 2013.
The company will have to file all the due annual returns and balance sheets for the financial years for which it has been marked as defaulting. Once the same are filed, the defaulting status of the company will be removed and the company will be able to file normally.