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Public Limited Company

Public Limited company registration starting from Rs.8,000/-

Public Limited Company Registration

As per section 2(71) of the companies Act, 2013 public limited company registration means which is not a private company. Any subsidiary private company of a public company is also considered as a public company.

Any Public company should have at least 7 members and no limit for maximum members and should have at least 3 Directors. Public Company is required to comply with more strict compliances as compared to a private company. The public company has the right to transfer its shares to any person whether it is outside and can also subscribe shares from the public.

A public limited company has most of the characteristics of a private limited company. A public limited company has all the advantages of private limited company and the ability to have any number of members, ease in transfer of shareholding and more transparency. Identifying marks of a public limited company are name, number of members, shares, formation, management, directors and meetings, etc.

For incorporation of public limited company registration SPICe, SPICe MOA, SPICe AOA is to be a file with ROC. Stakeholders can avail DIN up to 3 directors, name reservation, incorporation of a company, allotment of PAN and allotment of TAN with the help of Form SPICe.

In this case, a listed public company shall require to comply with the rules and regulations of the listed agreement. A public limited company can convert itself either in a private company or a person company (OPC).

public limited company registration

Our working Process for Public Limited Company Registration

MCA provides the web based facility integrated Web form SPICe+ or filed the e-form SPICe for the incorporation of a public limited company registration.

1. SPICe Form

01

Apply For name through RUN Web Form

For incorporation of public limited company registration, firstly we should check the availability of name on the MCA portal after that we should apply for name through RUN web form on the MCA portal. After that, if the name is unique and not similar than MCA personnel reserve the name for the company. After the reservation of name, we should incorporate the company within 10 days from the date of approval.

02

Make application in SPICe form for incorporation

For the incorporation of the company, we make an application in the SPICe form. Along with INC 33(e-MOA) and INC34 (e-AOA). In SPICe form, we can avail DIN, name reservation, incorporation of a company, allotment of PAN and allotment of TAN with the help of form-SPICe. There is no requirement to file form INC-22 in a case the registered office address is the same as the correspondence registered address of the company.

2. SPICe+ Form

SPICe+ would offer 10 services by 3 Central Govt Ministries & Departments (Ministry of Corporate Affairs, Ministry of Labour & Department of Revenue in the Ministry of Finance) and One State Government(Maharashtra), thereby saving as many procedures, time and cost for Starting a Business in India and would be applicable for all new company incorporations w.e.f.23rd February 2020.

SPICe+ has been divided into two parts viz., SPICe+ Part A and SPICe+ Part B.

SPICe+ Part A represents the section wherein all details with respect to name reservation for a new company has to be entered.
SPICe+ Part B represents the section wherein all remaining details required for incorporation of a company has to be entered.

Benefit of SPICe+ Form:

(i)  Incorporation of Company.
(ii) DIN allotment.
(iii) Mandatory issue of PAN.
(iv) Mandatory issue of TAN.
(v) Mandatory issue of EPFO registration.
(vi) Mandatory issue of ESIC registration.
(vii) Mandatory issue of Profession Tax registration(Maharashtra).
(viii) Mandatory Opening of Bank Account for the Company
(ix) Allotment of GSTIN (if so applied for).

For more details about SPICe+ Form Click here.

Basic Features to Read before public limited company registration:

1. Advantages & Disadvantages of Public Limited Company Registration:

Advantages:

  • A public company can easily raise funds from the public
  • In a public company, there is limited liability of public
  • A public company can borrow more money

Disadvantages:

  • A public company has no control over his share
  • Public companies share profit between more people.
  • The public company faces more complication while setting up.
2. Directors of public limited company:

A person who attained the age of 18 can become the director of a company. In a public limited company registration, there should be a minimum of 3 directors. A maximum number of directors in a private limited company shall be 15; however, it can be increased by passing a special resolution.

3.Initial public offer (IPO):-

IPO means when the company issue shares for the first time to the public, until IPO is not made by a company it is considered as a private company. At the time issue of an IPO, a public limited company registration shall consider the following factors:-

  • The risk involved in IPO.
  • Project value and productivity of the project.
  • Past records, reliability, and details of promoters.

The company which made IPO shall issue a prospectus that provides complete details regarding the proposed IPO and also aware to investors about the risk involved. The shares offered under IPO should be listed on the recognized stock exchange for the purpose of trading. The price of shares is determined by the promoter in consultation with investment bankers.

Conditions required for issue of the initial public offer by the unlisted company:-

  • Net tangible assets of at least Rs. 3 Crore in preceding3 financial years of which is not more than 50% is held in monetary assets.
  • Net worth at least Rs. 1 crore in preceding 3 financial years.
  • Minimum of Rs. 15 crores as average pre-tax operating profit in at least three years of the immediately preceding five years.
  • If there has been a change in the company’s name, at least 50% of the revenue of preceding one year should be from the new activity denoted by the new name.
  • The issue size should not exceed 5 times the pre-issue net worth.

If any of the above conditions are not satisfied by the company, then IPO can be made by the unlisted company, if 75 % of the net offer shall be made to QIBs through the book-building process.

A Listed company making public issue required to comply following two conditions:-

  1. If there has been a change in the company’s name, at least 50% of the revenue for preceding one year should be from the new activity denoted by the new name.
  2. The issue size should not exceed 5 times the pre-issue net worth.
4. Annual compliance:

There is some mandatory compliance that public company must ensure-

  • Minimum 4 board meeting to be held in every financial year.
  • Appointment of the auditor in Form ADT-1.
  • Hold annual general meeting (AGM) every year within 6 months from the close of the financial year. And first AGM is to be held within 9 months from the close of the first financial year.
  • File financial statement in Form AOC-4 within 30 days from holding of Annual General Meeting.
  • File annual return in Form MGT-7 within 60 days of holding of Annual General Meeting.

Statutory audit of accounts audited by Chartered Accountant at the end of the financial year.

How to Incorporate the Company :

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Make Payment

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Submit Documents

Submit Documents for your Order Using Online Dashboard or Mail to us.

Work Completed

Work will be completed by us and updates delivered Online and Get your Certificate of Incorporation online.

Documents required for Public Limited Company registration :

  • PAN CardPAN Card of shareholders and Directors.
  • Identity ProofAadhar card and Voter ID/ Passport/ Driving License of Shareholders and Directors.
  • Director’s Address ProofLatest Telephone Bill /Electricity Bill/ Bank Account Statement of Shareholders and Directors.
  • PhotographLatest Passport size photograph of Shareholders and Directors.
  • Business Address ProofLatest Electricity Bill/ Telephone Bill of the registered office address
  • NOC from ownerNo Objection Certificate to be obtained from the owner(s) of registered office
  • Rent AgreementRent Agreement of the registered office should be provided if any.

Frequently asked questions

1.What is public company?

Ans. As per section 2(71) of Companies Act,2013 public company means a company which is not a private company.

2.How many members are required for public company?

Ans.In public company minimum 7 members are required for public company.

3.How much capital is required for public company?

Ans.In public company no minimum capital is required.

4.Is public company issue its share in public?

Ans.Yes, a public company can issue its shares in public for subscription.

5.Difference between public company and private company?

Ans. A public company can issue its share in public, whereas a private company cannot issue its shares in public. The minimum directors of public company are 3 whereas the minimum director of private company is 2. The minimum members of public company are 7 whereas the minimum members of private company are 2.In case of private company there is maximum number of members i.e. 200 but in public company there is no maximum number of members.

6.What is the liability of public company?

Ans. In public company the liability of shareholders is limited.

7.Can public company converted into other companies?

Ans.  Yes, a public company can converted into others companies.

8.What are the important documents required for start a public company?

Ans. Important document required to start public company:
  • Utility bill of registered office not older than 2 months.
  • Bank statement of all subscribers and directors for their residential proof, further It should not be older than 2 months ( Optional attachment- electricity bill/telephone bill/mobile bill)
  • Aadhar card, PAN card of all subscribers and directors in legible format.
  • Rent agreement for registered office (if rented).
  • No objection certificate from the owner of the registered office.
  • Driving license of all subscribers and directors for identity proof.

All documents should be scanned in legible format and size of per document does not exceed 30 Kb.

8.What are the important documents required for start a public company?

Ans. Important document required to start public company:
  • Utility bill of registered office not older than 2 months.
  • Bank statement of all subscribers and directors for their residential proof, further It should not be older than 2 months ( Optional attachment- electricity bill/telephone bill/mobile bill)
  • Aadhar card, PAN card of all subscribers and directors in legible format.
  • Rent agreement for registered office (if rented).
  • No objection certificate from the owner of the registered office.
  • Driving license of all subscribers and directors for identity proof.

All documents should be scanned in legible format and size of per document does not exceed 30 Kb.

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ONE YEAR PACKAGE FOR PUBLIC LIMITED COMPANY

Incorporation Company Fees only 8000/-

BASIC

₹10,000/-

ONE TIME FEES

-Company Incorporation
-Memorandum and Articles
-DIN and DSC
-Consent of Directors
-PAN and TAN
-First Board Minutes
-First ROC Annual Filing

STANDARD

₹15,000/-

ANNUAL FEES

-Company Incorporation
-Memorandum and Articles
-DIN and DSC
-Consent of Directors
-PAN and TAN
-First Board Minutes
-First ROC Annual Filing
-GST Registration
-1 Year minutes
-1st Year IT Filing
-1st Year Director KYC
-MSME Registration

PROFESSIONAL

₹25,000/-

ANNUAL FEES

-Company Incorporation
-Memorandum and Articles
-DIN and DSC
-Consent of Directors
-PAN and TAN
-First Board Minutes
-First ROC Annual Filing
-GST Registration
-1 Year minutes
-1st Year IT Filing
-1st Year Director KYC
-MSME Registration
-12 Months GST Filing
-1st Year Directors Report
-1st Year Accounting-GST.

ADVANCED

₹50,000/-

ANNUAL FEES

-Company Incorporation
-Memorandum and Articles
-DIN and DSC
-Consent of Directors
-PAN and TAN
-First Board Minutes
-First ROC Annual Filing
-GST Registration
-1 Year minutes
-1st Year IT Filing
-1st Year Director KYC
-MSME Registration
-12 Months GST Filing
-1st Year Directors Report
-1st Year Accounting Tally
-TDS return filing
-Financial Statements
-Appointment of Auditor/Director

Note
GST REGISTRATION
Following registered persons not required to file GSTR 1, 2 and 3 such as:

Goods and Services Tax (GST) is an indirect tax applicable on the supply of goods and services. It is a comprehensive, multistage, destination-based tax. It has subsumed almost all the indirect taxes except a few state taxes. It is collected from point of consumption and not point of origin like previous taxes.

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TRADEMARK REGISTRATION
Documents attach in trademark application:-

A trademark can be registered by the Controller General of Patents Designs and Trademarks, Ministry of Commerce and Industry, Government of India under Trademark Act, 1999 to protect the identity of any goods and services.

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income tax
Some basic information about Income tax

An income tax is a tax imposed on individuals or entities commonly known as taxpayers that varies with respective income or profits. Income tax generally is computed on taxable income which is calculated after various deductions. Taxation rates may vary by type or characteristics of the taxpayer.

Read More
Private Limited Company
Basic Features to Read before starting private limited company

Private company is required to add the word “Private limited” or “Pvt. Ltd.” to end of its name. Private company should have at least two member and two directors. Private company have right to issue debentures to any number of persons.

Read More
Public Limited Company
Features of Public Limited Company

MCA provides the facility for incorporation of public limited company. For incorporation, firstly apply for name through RUN (Reserve Unique Name) on MCA portal. After availability of name from ROC we should file incorporation form i.e. Spice 32, INC 33(for eMOA), INC 34(for eAOA), .

Read More