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A Public Limited Company in India, commonly known as a PLC, is a limited liability company established under the Companies Act, 2013. The greatest benefit of a public limited company is that it can offer shares to the general public and procure funds. It is the best suitable business structure for individuals planning to do large-scale operations.
In order to do public limited company registration, there should be a minimum of seven members and three directors as per Section 149(1) of the Companies Act, 2013. In this article, we will learn what is a public limited company, the difference between private and public limited company, the features of public limited company in India and the procedure for private limited company registration.
A public limited company in India is a company that has its shares listed in the public stock exchange to raise funds for the business. A public limited company in India enjoys all the privileges of a corporate entity along with the leverage of limited liability. A public limited company registration involves filing more compliances than a private limited company. But what makes it worth it is the easy transferability of shares and the ability to raise funds through initial public offering or trading in the stock market.
Here is what you should keep in mind while registering for a public limited company in India:
These are the steps you shall follow for public limited company registration:
These forms are required to be downloaded and duly signed by the directors of the public limited company and submitted for incorporation purposes. Further, a DSC of a certified professional (Chartered Accountant, Company Secretary, Cost Accountant or an advocate) is required to file Form INC-32. With effect from January 2018, RUN form, INC-7 and INC-1 are omitted and have been merged into the SPICe+ form. The RUN facility is available solely to change the existing name of a public limited company.
It is very essential to understand the difference between private and public limited company. Here are a few vital distinguishing factors between the two:
Basis of Distinction
Private Limited Company
Public Limited Company
Private Limited Company is owned and traded privately.
Public Limited Company is owned and traded on the stock exchange.
Private Limited is used after a private company’s name.
Limited is used after the public company name.
Minimum and Maximum No. of members
Minimum of Directors
Public Subscription of shares
Private subscription of shares is not allowed in private companies.
Public subscription of shares is not allowed in public companies.
Issue of Prospectus
Taxzona consultancy services offer highly authentic services for public limited companies in India. We provide quick and easily feasible solutions within a very short span of time and allow you to get procedures for public limited company registration at cost-effective prices in Mumbai. We have a well-trained and highly experienced team of experts who will take care of your company registration processes by filing proper documentation and compliances.
Our dedicated team of professionals are devoted to making clients’ businesses easy and serving them. You will be able to do what you excel in and we will take care of your registration and compliances. So, what are you waiting for?
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The entire registration process can be completed within seven working days depending upon the time taken by the registrar for approval of the application filed. If the forms don’t get approved in the first application, then the time period for completing the process may get extended accordingly.
unique company name is essential for a public company registration because it distinguishes the company from the existing ones and should not match with the existing registered company names. There are 3 main parts of deriving to a unique company name.
No, Public Limited Company Registration is similar to OPC or LLP or any other form of business entity registration. You can definitely register it irrespective of your turnover.
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