Public Limited CompanyA Public Limited Company is a Company limited by shares in which there is no restriction on the maximum number of shareholders, transfer of shares and acceptance of public deposits. The liability of each shareholder is limited to the extent of the unpaid amount of the shares face value and the premium thereon in respect of the shares held by him. However, the liability of a Director / Manager of such a Company can at times be unlimited. The minimum number of shareholders is 7.
Incorporation Of A Public Limited Company In India - Procedures And Steps InvolvedStage I - Pre-registration Process
The proposed Director should have a valid DIN (Director Identification Number) allotted by the Ministry of Corporate Affairs. One of the Directors should have a valid Digital Signature Certificate issued by the Certifying Authorities approved by the Ministry of Corporate Affairs. It may take 3 to 5 working days for obtaining DIN. Digital Signature can be obtained in an hour. Click here to get a DIN (Director Identification Number). Click here to get a DigitalSignature. State II - Name Availability Company Registration in India starts with filing of an application for Company Name. The chosen name for a company should be unique all over India. Usually in a day or two, concerned ROC approves the name if the applied name is not same or closely similar to the name of an existing company and the proposed name is in accordance with the Guidelines for Name Availability issued by the Ministry of Corporate Affairs (MCA). Click here to see the Table of Key Words / Rules controlling Authorised Capital. Stage III - Documentation On getting the company name approved by the office of ROC, the following documents need to be drafted in line with the requirements of Companies Act
On finalizing the MOA and AOA, necessary stamp duty needs to be paid and the same should be subscribed/ signed (by own hand and signature) by promoters (first shareholders) after writing his name, fathers' name, residential address and occupation. A registered company can subscribe these documents though a representative authorised by a resolution / specific power of attorney by the Company. State IV - Filing and Registration After execution of MOA and AOA, the same has to be field with the with ROC along with the following forms through MCA Portal:
The office ROC will scrutinize the incorporation documents. If the documents are found in order, the Company will be registered and the Certificate of Incorporation will be issued by the Registrar. The Certificate of Commencement of Business has to be obtained by a Public Company before commencing any commercial activity.
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