Sale!

Public Limited Company

12,999

A Private Company is a company started with minimum 2 members and which can be maximum to 200. A Private Limited Company enjoys various Legal rights as compared to any other form of Business Entity.

Description

Q. What is Public Limited Company ?

A Public Limited Company is a Company limited by shares in which there is no restriction on the maximum number of shareholders, transfer of shares and acceptance of public deposits.

Q. What are the Benefits Of Public Limited Company ?

  • There is limited liability for the shareholders.
  • There is limited liability for the shareholders.
  • The business has separate legal entity.
  • There is continuity even if any of the shareholders die.
  • These businesses can raise large capital sum as there is no limit to the number of shareholders.
  • The shares of the business are freely transferable providing more liquidity to its shareholders.
  • Unity of direction
  • Efficient management

Q. What are the documents required for registration of Public Limited Company ?

Here is the list of documents required for Public Limited Company:

For Directors and Promoters:

  • PAN Card
  • ID Proof (Anyone of Aadhar Card/ Voter Card/ Driving License and Passport)
  • Address Proof (Anyone of Latest Bank Statement/ Electricity Bill/ Mobile Bill and Telephone Bill)

For Registered Office:

  • In case the premises are Rented
  1. Rent agreement (Notarized)
  2. Latest Electricity bill
  3. NOC from the Owner in the name of any Director or Proposed Company
  • In case the premises are Owned by any Director or any Relative
  1. Latest Electricity bill
  2. NOC from the Owner in the name of any Director or Proposed Company.

Q. How many members and director are needed to incorporate a Public limited company?

Minimum seven (7) members  and three (3) Directors are needed to incorporate a public limited company. These Directors may be out of those seven members or otherwise.

Q. What is the procedure to incorporate a Private Limited Company?

Procedure to incorporate a private limited company as follows:

  • Apply for DSC (Digital Signature Certificate)
  • Apply for DIN (Director Identification Number)
  • Apply for Name (SPICE+ PART-A)
  • Apply for Incorporation of the company (SPICE+ PART-B)
  • Get Certificate of Incorporation.

Q. How long does it take to incorporate a Public limited company?

It takes around 8-10 days to incorporate a public limited company, if every documents, Name of company, and others are in order.

Q. Is it mandatory to keep the minimum capital as Rs. 5,00,000?

As per the companies Act, 2013 it was mandatory to keep the minimum paid-up capital to be Rs. 5,00,000. But, as per the latest notification from the Ministry of Corporate Affairs, such minimum criteria have been removed. So, now there is no such compulsion to have the minimum capital to be Rs. 5,00,000. Now, you may incorporate a Public Limited Company with any minimum capital you want. (Nidhi company is excluded from this relief)

Q. Do we need to deposit the capital of company somewhere?

Such Minimum Capital of the company needs to be deposited in the current account of the company within 2 months of incorporation of the company against the shares subscribed by the promoters.

Q. Can a NRI/Foreigner be the director/member of the Private Limited Company?

Yes, a NRI/Foreigner can be a director cum member in a public limited company but he/she needs to get all his/her documents appostiled from the Indian Embassy where he/she resides.

Q. Is it possible to incorporate a Public Limited Company with all the NRI/foreigner as its director cum members?

No, As per the companies Act, 2013 it is mandatory to have one resident Indian to be the director in the company with others NRI/Foreigners.

Q. How many persons can be the members of Public Limited Company?

Ans: As per Companies Act, 2013, there is no limit on maximum number of members in a Public limited Company.

Q. Can we use the residence address as the registered office of the company?

Yes, there is no such restriction in the law to keep the resident address as the registered address of the company.

Q. Can we change Company Address after the incorporation?

Yes, we can change the Company Address within the local city according to our wish after anytime of company incorporation just by passing a resolution and filing of Form INC-22 with the ROC.

Q. Can we change the directors of the company?

Yes, there is no such restriction on changing the directors of the company. You may Add/Remove the directors from the company with their wish just by passing a resolution, preparing of some documents and filing of Form DIR-12 & DIR-11 with the ROC.

Q. Can we give documents related t0 registered office address after incorporation?

Yes, You may provide the registered office details within 30 days of incorporation, but one address as provisional address will be given at the time of incorporation which will be printed on the Certificate Of Incorporation.

Q. Will we receive Certificate Of Incorporation in hard?

No, Ministry Of Corporate Affairs issues the Certificate Of Incorporation in soft only. Now, there is no document which needs to send or receive in hard for incorporation of the company. The Ministry is following the initiative of Digital India where there is no need for hard documents.

Q. We have not received our company’s PAN in hard. Why?

As per the latest decision taken by Ministry, w.e.f. 01.01.2020, only soft copy of PAN is to be provided with incorporation by ministry. Company may apply for hard copy on its own after incorporation with given PAN no with incorporation.

Reviews

There are no reviews yet.

Be the first to review “Public Limited Company”

Your email address will not be published. Required fields are marked *