Public limited company formation is almost similar to a private limited company except minimum requirement of directors and members are 3 and 7 respectively.
A limited company grants limited liability to its owners and management. Being a public company allows a firm to sell shares to investors this is beneficial in raising capital.
But, a Public limited company has to do few additional ROC compliances and core compliances with Stock exchange and SEBI, if it is listed. Hence the Compliance cost is higher as compare to a Private limited company.
- Minimum 3 Directors & Maximum 15.
- No limitation for number of Members/shareholders
- Can raise fund from public by issuing share subject to compliance of other provisions of the Act
- All the Public companies to use the word limited after its name
- Prospectus– Prospectus is a detailed statement of the company affairs which is issued by a company for its public. Thus, in the case of Public limited company, there is a need to issue a prospectus. However, in case of Private limited Companies, public
- All other features of a Private Limited Company Shall apply here as well.
Identity and Address Proof
Photographs of all Proposed Shareholders & Directors
PAN card Copy of all Proposed Shareholders & Directors
ID Proof – Driving License / Voter ID / Passport (anyone) of all Proposed Shareholders & Directors
Address Proof – Bank Statement / Telephone or Mobile or Electricity Bill (not more than 30 days old) of all Proposed Shareholders & Directors Email ID and Mobile Numbers of all Proposed Shareholders & Directors Aadhar card ( Optional )
Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
Scanned copy of notarised rental agreement in English
Scanned copy of no-objection certificate from the property owner
Scanned copy of sale deed/property deed in English (in case of owned property)
| Documentation & Finalise Name | First we collect documents and then send you few papers for your signature on email. Then we collect scan copy of Signed Papers from you on email. Side by side we finalise 2 proposed name of company #We can complete this in day 1 |
| DSC apply | Meanwhile we apply for Digital Signatures of all directors/shareholders. #We can complete this in day 1 |
| Incorporation Filing | In day 2 we file Incorporation form with ROC. All Forms certified by CA or CS or CMA. |
| Company Approved | Generally ROC approve incorporation application in 1-2 days. Once your application approved, you will get certificate, PAN, TAN etc. |
- Proposed Company name must be unique. The suggested name should not match or identical with any existing companies or trademarks in India. # We help here to choose name.
- All Proposed Directors must have Active DIN
- Digital Signature for proposed Directors/Shareholders
- Decide Paid-up Share Capital and share % between Shareholders
- Decide Authorised Share Capital. ROC Fee & Stamp duty based on Authorised Capital. Low Capital – Less Govt Fee.
- Decide Company Registration State and Office address
- Decide Bank Authorised Signatory and Bank name to open your account (ICICI, BOb, Kotak, PNB)
Apart from other statutory compliances like GST, InCome Tax, etc., A Public limited company must comply below without any delay.
- File Commencement of Business (COB) e-form INC 20A within 180 days of incorporation.
- Appointment of an Statutory Auditor ( Practicing Chartered accountant) for Auditing Books of accounts and issue audited Annual Financial Statement.
- Filling of ROC Annual Forms
- Filing of Director e-KYC
IF the Company is listed in recognosed stock exchange, then need to company listing agreement provisions, and all other compliances of SEBI, Stock Echanges, and ROC