Public Limited Company Registration in India - Online Procedure
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Public Limited Company Registration
Abbreviated as PLC, a public limited company is a type of business structure in which a corporation offers its shares (units of ownership in the company) to the general audience. Upon successful purchase, share buyers become shareholders-who are entitled to enjoy profit margins and bear losses in a company to a limit. Thus, the name Public Limited Company.
Features of a Public Limited Company
- Liability of Partnership: Shareholders bear limited liabilities for the loss suffered by the corporation.
- Joint Liability: Shareholders do not share joint liability.
- Compliances: Number of compliances to be fulfilled by business owners such as ROC, Tax payment, and audit have medium difficulty.
- Governing Documents: The governing operations are based on an agreement. Limited number of document preparation required.
- Ownership & Management: The shareholders own the public limited companies and are managed by directors.
- Members required: Minimum 7 members and Minimum 3 directors.
- Capital: Unlimited Fundraising.
- Business scope: Unlimited growth and expansion opportunities
Why Register a Public Limited Company in India?
- Gives ability to raise capital
- Brand awareness
- Gains customer trust
- Lends Legitimacy to business
- Protects business name/ trademark registration
- Tax efficiency
- Potential to be listed as IPO
- Limited liability protection
- Separate legal entity
How to Register a Public Limited Company
Step 1: Document Presentation: Minimum 7 members, and min. 3 directors/ DIN number/ PAN/ Identity proof etc.
Step 2: Apply for DSC (Digital Signature Certificate): Because a public limited company’s registration can be done online, a digital signature is typically required when submitting forms to the portal of the Ministry of Corporate Affairs. A DSC is required for all proposed directors and subscribers to the memorandum and articles of association.
Step 3: Name Approval: The directors and promoters of the company send the proposed name for the business and it is approved by the Ministry of Corporate Affairs (MCA) after careful consideration.
Step 4: Filling up relevant forms: Attach the following forms:
- SPICe Part b, SPICe MOA, SPICe AOA, SPICe INC 9 Agile Pro.
Step 5: Uploading of forms on MCA: Scan and upload the documents.
Step 6: Get Incorporation certificate: The MCA inspects the application based on the document submission and issues a Certificate of Incorporation of the public company.
Documents Required To Register a Public Limited Company!
Your Ultimate Checklist
PAN Card
(both shareholders and directors).
Passport Size Photos
(Latest photos of the Directors/Shareholders)
Rent Contract
(If Rented)
NOC
(From the Owner)
Identity Proof
For Directors/Shareholders Identity Proof-aadhar card/voter id/passport/Driving Licence
Business Address Proof
(Latest electricity bill or telephone bill of the registered office)
Residential Proof
For Directors/Shareholders Resident Proof-Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
Absolute Must-Haves While Registering a Public Limited Company?
Business’ financial health
Government support
Tax payment
Contract Management
Office Address
Unique Business Name
Compliances
Minimum Capital Availability
Directors & Shareholders
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Surveys indicate that around 90% of startups fail in their infancy stage, largely due to inefficient business ownership and bad financial planning. At JustStart, we plan to put you in that 10% category within the first year. We are not just a startup consulting service in India, we are your secret admirers who want to see you win. India is only second to the US in startup efforts spreading across the world. With inside knowledge of how government frameworks operate and what it takes to succeed, we help you take the lead.
We promise to be there for you from beginning to end!
From startup consultancy to post incorporation compliances, we will make sure your company registration goes as smoothly as you planned. We are empowered by a team of experienced professionals from diverse backgrounds, such as lawyers, chartered accountants, company secretaries, MBAs, Marketers, and young but passionate visionaries who synergise their efforts at one single place we call-Home. Here are some of the key components of our business startup consultants team:
- To gather your business details.
- To Understand the errors and plus points of your business idea.
- To Suggest you which business category suits you best
- To Create a helpful team for you to work along.
- To Analyse financial lags and suggest best solutions.
- To Help you register your company legally within no time.
- To Help you prepare all the essential documents to avoid company registration delays.
- To Help you connect with like minded entrepreneurs.
Documents you receive after successful PLC registration:
- Corporate Identification Number (CIN)
- Certificate of Incorporation
- PAN in company’s name
- TAN number
- Company Memorandums/ Articles
Immediate Compliances Post PLC Incorporation:
- It is mandatory to open a PLC’s bank account after successful registration.
- Deposition of paid capital in the company’s bank account as per shareholding ratio.
- Submission of commencement of business form (INC 28) within 180 days.
- Auditor appointment
What makes us stand out from the crowd?
Our work strategies: From paper planning to idea execution, we actively achieve benchmark guidelines to ensure each step of the plan is not just carefully laid but successfully converted into reality.
Our ideology is our soul: JustStart is a platform for those who have the willpower to dream and the drive to achieve. We promise you our commitment, trust, and expertise to generate a hassle-free experience.
Meet Deadlines: Time is of the essence. Every single day lost is an opportunity lost. Therefore, we take precautionary measures to ensure your business meets all the deadlines you have set.
Guaranteed Satisfaction: We know quality has no replacement. Thus, we systemise each level of our work to minimise the chances of mistakes before each project passes through our client’s hands.
LET'S CLEAR ALL THE DOUBTS!
1. Do I have to visit ROC Office for Registering a Private Limited Company?
We provide fully automated and hassle free online Company Incorporation Process.
2. Who is Registrar of Companies (ROC)?
Every State has one ROC office except some states.
3. What are the eligible criteria to form a private limited company?
Minimum of two directors
Two members, (two shareholders)
4. How much capital is required for private limited company?
5. What are the Advantages of a private limited company?
Limited Liability
Tax Advantages
Business Continuity
Free & Easy Transfer of Shares
FDI Allowed
Builds Credibility
6. What is MOA & AOA of company?
MOA means Memorandum of Association and AOA means Articles of Association.
These are the byelaws or rules based on which important matters like main business of the company or meetings is decided.
These are the standard legal documents prepared by Company Secretaries or other professionals during registration of the Company.
7. Is audit compulsory for private limited companies?
Yes, Audit is mandatory for every Private Limited Company
Every company must get it audited every year
8. Is it necessary to have an office to start private limited company?
Address of the registered office of the private limited company will be required, as the premises will receive the communication from MCA
9. What is DIN?
DIN is a unique Identification Number
Allotted to an individual who is appointed as a director of a company
10. Can a person become director without DIN?
No person shall be appointed as a Director of a Company unless he has DIN.
11. Can two companies have same registered office?
Yes, 2 or more than two companies can be incorporated with the same address
As per companies act, there is no such restriction.
12. What is DSC?s
No person shall be appointed as a Director of a Company unless he has DIN.
13. Does PF, GST is automatically applicable to private Limited.
No Provident Fund (PF), GST is not automatic applicable.
These laws are applicable only after crossing certain threshold limits
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Some Specials Words From Our Clients
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Our Popular Services at Glance
Private Limited Registration
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No minimum capital requirement
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Limited Liability
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Tax Advantages
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Business Continuity
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FDI Allowed
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Builds Credbility
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Personal Reputation
LLP Registration
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No minimum capital requirement
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Legal Recognition
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Lower Registration Cost
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No requirement of compulsory Audit
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Savings from lower compliance burden
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Taxation relief
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Easy Transferable Ownership
OPC Registration
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Separate legal entity
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Liability of the members is limited
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OPCs allow the Transferability of shares
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Savings on compliances
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It has to mention a nominee while registering the company
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No minimum paid-up capital required
Trademark Registration
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Builds trust and Goodwill
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Differentiates Product
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Protection against infringement
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Global Trademark Registration
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Attract Human Resources
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Exclusive Rights
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Recognition to product’s Quality