A public limited company is the legal designation of a limited liability company which offers shares to the general public and has limited liability. A public limited company’s stock is offered to the general public and can be acquired by anyone, either privately, during an initial public offering or through trades on the stock exchange.
Public companies are strictly regulated, and are required by law to publish their complete and true financial position so that investors can determine the true worth of its shares.
To incorporate a public limited company, a minimum of seven shareholders are required in a public limited company. However there is no limit for maximum number of shareholders.
Minimum three and maximum 15 directors are required for a public limited and there can be even more than 15 directors after passing Special Resolution.
There is no minimum paid-up capital requirement and hence no burden of putting in such a large amount, as previously required, into the company bank account. This amount can be introduced as per the convenience of the business owners.
Yes, public limited compnay needs to do annual filling with ROC each year. Further it has to must maintain books of accounts to comply with statutory audit requirements and submit income tax returns.
Yes, a Foreign National or an NRI can be a Director in a Public Limited Company in India after obtaining DIN. However, at least one Director on the Board of Directors must be a Resident India.
Any individual or company or LLP can become a shareholder including NRl and foreigner.
MOA is the chartered public document which contains all those information that are required for the company at the time of incorporation i.e. objects, powers, and scope of the company. A company is not allowed to work beyond MOA, i.e. it limits the range of activities of the company.
AOA is the secondary document, which defines the rules and regulations made by the company for its administration and day to day management. In addition to this, the articles contain the rights, responsibilities, powers and duties of members and directors of the company. It also includes the information about the accounts and audit of the company.
No, you needn’t be available in person, public limited company incorporation process is online. A scanned copy of documents can be sent to us via mail, and we will handle the rest.