A public limited company is formed by registering with the relevant government authorities and meeting specific legal requirements such as having a minimum amount of share capital, a board of directors, and publishing financial statements.
A public limited company (PLC) is a type of business organization that is publicly traded on a stock exchange. It is a company whose shares are traded freely on the stock market, and its ownership is open to anyone who wishes to buy shares in the company.
A public limited company is formed by registering with the relevant government authorities and meeting specific legal requirements such as having a minimum amount of share capital, a board of directors, and publishing financial statements.
PLCs are commonly found in industries such as finance, telecommunications, energy, and technology, where the need for large amounts of capital is high.
Registering a public limited company in India can now be done online. It requires following a series of legal steps and procedures. Here are the general steps involved in registering a public limited company in India:
Obtain a Digital Signature Certificate (DSC): The first step is to obtain a DSC for the directors and shareholders of the company. This can be done online through authorized agencies.
Obtain a Director Identification Number (DIN): Each director of the company must obtain a DIN from the Ministry of Corporate Affairs (MCA) by submitting the necessary documents online.
Choose a company name: Choose a unique name for the company and submit it to the MCA for approval through the online portal.
File the incorporation documents: Prepare and file the incorporation documents, including the Memorandum of Association (MOA) and Articles of Association (AOA), with the MCA through the online portal.
Pay the registration fees: Pay the registration fees and stamp duty online through the MCA portal.
Obtain a Certificate of Incorporation (COI): Once the MCA has reviewed and approved the incorporation documents and fees, a COI will be issued online. The COI serves as proof that the company has been legally incorporated.
Apply for a Permanent Account Number (PAN) and Tax Account Number (TAN): The company can apply for a PAN and TAN online through the Income Tax Department’s website.
Register for Goods and Services Tax (GST): If the company’s annual turnover is above a certain threshold, it must register for GST online through the GST portal.
Open a bank account: The company must open a bank account in its name and deposit the minimum required share capital.
It is recommended to seek the assistance of a professional or a company registration service to ensure that all legal requirements are met and the registration process is completed smoothly.
The documents required for registering a public limited company in India may vary based on the state and specific business requirements. However, here are some of the common documents required for registration:
Identity proof: PAN Card, Aadhaar Card, Passport, Voter ID Card, or Driving License of all the proposed directors and shareholders of the company.
Address proof: Recent utility bill, Bank Statement, Passport, Voter ID Card, or Driving License of all the proposed directors and shareholders of the company.
Proof of registered office: Rental agreement or Sale Deed of the office premises, along with a No Objection Certificate (NOC) from the owner.
Memorandum of Association (MOA): It is a legal document that defines the company’s scope of business activities, its objectives, and the extent of its powers.
Articles of Association (AOA): It is a legal document that defines the company’s internal regulations, its management structure, and the rights and responsibilities of its shareholders and directors.
Form DIR-2: Consent from all the proposed directors of the company.
Form INC-9: A declaration from all the proposed directors that they have not been convicted or found guilty of any offense in the past.
Form INC-10: A written undertaking from a professional such as a chartered accountant, company secretary, or lawyer, stating that all the requirements of the Companies Act, 2013 have been complied with.
Form INC-7: Application for incorporation of a company.
Form INC-22: A notice of the registered office of the company.
It is recommended to consult with a professional or a company registration service to ensure that all the necessary documents are prepared and filed correctly.