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Public Limited Company Registration
What is a Public Limited Company?
A Public Limited Company (PLC) is a type of business entity in India that offers shares to the general public. It is regulated under the Companies Act, 2013, and requires at least three directors and seven shareholders. PLCs have the ability to raise capital through the stock market, making them a preferred choice for large-scale businesses.
Prerequisites and Eligibility Conditions
Minimum Shareholders: 7
Minimum Directors: 3 (At least one must be an Indian resident)
Minimum Capital Requirement: No minimum capital requirement, but usually significant capital is required for credibility.
Registered Office Address: Must have a valid business address.
Annual Compliance: Subject to SEBI guidelines and MCA compliance.
Types of Public Limited Companies
Listed Public Limited Company – A PLC whose shares are traded on a recognized stock exchange (e.g., NSE, BSE), requiring compliance with SEBI regulations.
Unlisted Public Limited Company – A PLC that does not trade its shares publicly but can raise funds through private investments.
Government Public Limited Company – A PLC where the government holds at least 51% of the shares, such as ONGC, SBI, etc.
Non-Government Public Limited Company – A PLC owned by private individuals or corporate entities.
Benefits of Registering a Public Limited Company
Limited Liability Protection – Shareholders’ liability is limited to their shareholding.
Access to Capital – Can raise funds through public share issuance (IPO, FPO, etc.).
Business Credibility – Enhances trust among investors, customers, and financial institutions.
Perpetual Succession – The company continues to exist regardless of changes in ownership.
Expansion Opportunities – Easier to attract foreign and domestic investments.
Transferability of Shares – Shares can be freely transferred among the public.
Stock Exchange Listing – Offers liquidity to shareholders by trading shares in stock exchanges.
Disadvantages of a Public Limited Company
Complex Regulatory Compliance – Subject to stringent rules under SEBI and Companies Act.
Loss of Control – Since shares are publicly traded, ownership dilution is a possibility.
High Formation Cost – Legal, documentation, and listing expenses are significant.
Disclosure Requirements – Financial and operational transparency is mandatory.
Decision-Making Complexity – Involves multiple stakeholders and board approvals.
Procedure for Public Limited Company Registration
Step 1: Obtain Digital Signature Certificate (DSC)
Required for filing online incorporation forms.
Directors and shareholders need to obtain DSCs.
Step 2: Apply for Director Identification Number (DIN)
Directors must apply for a unique DIN via the MCA (Ministry of Corporate Affairs) portal.
Step 3: Name Reservation
File RUN (Reserve Unique Name) application with MCA.
The name must be unique and comply with Companies Act guidelines.
Step 4: Drafting MOA & AOA
Memorandum of Association (MOA): Defines the company’s objectives.
Articles of Association (AOA): Contains the rules and regulations of the company.
Step 5: File Incorporation Application
Submit the SPICe+ (Simplified Proforma for Incorporating a Company Electronically Plus) form.
Required documents include:
Director’s and shareholders’ KYC documents.
Address proof of the registered office.
MOA, AOA, and declarations from directors.
Step 6: Certificate of Incorporation (COI)
Issued by the Registrar of Companies (ROC) upon successful verification.
Company receives CIN (Corporate Identification Number).
Step 7: PAN & TAN Application
Company must obtain Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
Step 8: Open a Business Bank Account
A current account must be opened in the company’s name.
Step 9: Post-Incorporation Compliances
GST Registration (if applicable).
EPF, ESI, and MSME registration (if required).
Appointment of Auditor within 30 days.
Why Choose Humsabka Advisor for Private Limited Company Registration?
Expert Guidance: End-to-end assistance in company registration and compliance.
Quick Processing: Hassle-free online registration with fast approvals.
Cost-Effective Packages: Affordable pricing tailored for businesses.
Legal Compliance Support: Assistance with regulatory filings, tax compliance, and audits.
Transparent Process: Regular updates and real-time tracking of applications.
Ready to register your Public Limited Company? Contact Humsabka Advisor today!
Documents & Information required for Public Limited Company
- PAN Card of Directors & Subscribers
- Aadhar Card of Directors & Subscribers
- Bank Details of Directors & Subscribers
- Address Proof (Like Rent Agreement)
- Directors Declarations
- Mobile No. of Directors & Subscribers
- Email id of Directors & Subscribers
- Photo of Directors & Subscribers
- Utility Bill (like Electricity Bill)
- Director Consents
Comparison: Sole Proprietorship vs Partnership vs LLP vs Company
Public Limited Company Registration FAQ’s
What is the minimum number of directors required for a Public Limited Company?
A Public Limited Company must have at least three directors.
How many shareholders are required to form a Public Limited Company?
A minimum of seven shareholders is required.
Can a Public Limited Company be registered with one person?
No, a Public Limited Company must have at least seven shareholders and three directors.
Is there a minimum capital requirement for registering a Public Limited Company?
As per the Companies Act, 2013, there is no minimum paid-up capital requirement, but companies usually start with a significant amount for credibility.
How long does it take to register a Public Limited Company in India?
Typically, it takes 10-15 working days, depending on document verification and approval from authorities.
Can a Public Limited Company be converted into a Private Limited Company?
Yes, a Public Limited Company can be converted into a Private Limited Company by passing a special resolution and obtaining MCA approval.
What are the compliance requirements after registration?
A Public Limited Company must comply with:
- Annual ROC Filings
- SEBI Regulations (if listed)
- Income Tax Filings
- GST Compliance (if applicable)
- Statutory Audit
Can a foreign national be a director in a Public Limited Company?
Yes, a foreign national can be a director, but at least one director must be an Indian resident.
Does a Public Limited Company need to be listed on the stock exchange?
No, listing is optional. A Public Limited Company can operate as an unlisted or listed company.
What are the key advantages of a Public Limited Company?
- Ability to raise capital from the public
- Limited liability for shareholders
- Better business credibility and growth opportunities
- Shares can be freely transferred