Public Limited Company
A public limited company, India is the standard legal designation of a company which offers shares to the general public and has the benefit of limited liability. It requires a minimum of 7 shareholders to form such a company, assuming that it has a lawful purpose. Hence an Indian Owner, planning to begin operations or planning to start a business in India can also go for Public Limited Company. A person not ready to disclose his trade secrets to anyone, can even go for Proprietorship Firm.
It is a company whose securities are traded on a stock exchange and can be bought and sold by anyone. Public companies are strict in their regulation, and are required by law to publish their complete and true financial position so as to enable the investors to determine the true worth of its stock (shares).
Public Limited Company Advantages and Disadvantages
Large capital can be raised in case of Public Limited Company. Limited liability and freely transferable shares also add up to the advantages of public limited company. But sometimes a large no of legal formalities can serve as a disadvantage also.
- Minimum three directors are required to set up a Public Company and the maximum amount cannot exceed beyond fifteen. Even an NRI or Foreign National can be a Partner after obtaining a DPIN (Designated Partner Identification Number. At least, one of the partners have to be a resident Indian citizen.
- Minimum Capital Required: Rs.5,000,000/- This limit is not applicable for companies having licence under section 25.
Public Limited Company Registration Process Requirements
- ID Proof and Address Proof for all Partners.
- PAN Card is Mandatory.
- Latest utility bill (electric bill/telephone bill) or latest tax receipt for the property to be used for registered office.
- DSC Form Download Format
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