There is a defined procedure when it comes to the incorporation of the company, according to the Companies Act,2013. A certificate of commencement of business is required before starting the  Public Limited Company.

What is a Public Limited Company?

A Public Limited Company is a voluntary association of seven or more persons to form of company that offers its shares to the general public. It gives limited liability to its owners and shareholders.

Additionally, following the provisions laid down by the Companies Act,2013 it should at least have three directors one of them must be a resident of India there are no constraints regarding the maximum number of directors.

 A minimum paid capital of Five lakhs is required. To Incorporate a Public Limited Company certain documents are required for incorporation. If you are willing to know more about the Documents Required and the process of Incorporation of a Public Limited Company then keep reading. 

Documents required for incorporating a Public Limited Company

• Identity Proof of all the shareholders and directors
• Address Proof of all the directors and the shareholders
• PAN number of all the shareholders and directors
• Utility Bill of the proposed office i.e. proposed registered office for the company
• A NOC (No Objection Certificate) from the landlord where the office of the company will be situated.
• Director Identification Number (DIN) of all the directors
• Digital Signature Certificate (DSC) of the directors
• Memorandum of Association (MOA)
• Articles of association (AOA)

Public Limited Company: Process of Registration

Step 1:Filing the Form: The application form for public limited company registration must be completed online. This must be done through the respective MCA portal. 

Step 2:Applying for DSC and DIN: In the next step, the applicant must apply for a Digital Signature Certificate and Director Identification Number. 

Step 3:Verifying the Name of the Company: In this step, the name of the company is checked and verified as per the requirements of the Ministry of Corporate Affairs (MCA). 

Step 4:Filing SPICe Form: When the name of the Public Limited Company is approved by relevant authorities, then the applicant would go in for filing the SPICe form for securing the certificate of Incorporation. 

Step 5:Submitting Documents: Once the above steps are carried out, the applicant must submit all the documents to the MCA. The documents which have to be filed with the authorities will include the Memorandum of Association and Articles of Association. 

Step 6:Incorporating the Company: After verifying the process, the MCA and Registrar of Companies will issue the certificate of incorporation of the public limited company. 

Step 7:Opening a Bank Account: In the final step, a bank account has to be opened in the name of the Public Limited Company. This bank account must be differentiated from opening an individual bank account.

How can we help you?

If you too are wondering to set up a Public Limited Company, the Online Legal India™ expert team can take care of the documentation process. We have a highly qualified CA/CS and 10+ years of experienced lawyers who would assist you to Register your Public Limited Company(PLC). We have budgeted services for those who are willing to venture into a company, business or any other kind of organization.