Public Limited Company
Public Limited Companies are formed wherein, directly or indirectly number of members is more than fifty or public money is involved. Minimum number of members in Public Limited Company is seven and there is no cap on the maximum number of members. Public Limited Company being a separate legal entity has most of the characteristics of a Private Limited Company other than ease of transfer of shareholding by its member.
A minimum of three Directors are required for establishing a Public Limited Company and since public money is involved it has more stringent regulatory requirements as compared to a Private Limited Company.
To process the incorporation of a Public Limited Company, there are two ways as detailed below…
1. Normal process wherein, first to have confirmation of Name ,This process takes approximately 20 working days to get the entity incorporated.
➥ DSC & DIN :- Before applying for a name every proposed Director should have a Digital Signature and Director’s Identification Number
➥ Name Approval :- After obtaining DSC and DIN it is required to apply for a name by which the company needs to be incorporated
➥ Registration of Entity :- Post name availability, other documents relating to registered office address, detailed object clause, capital and subscriber details needs to be submitted with the Dept. after necessary attestations
2. New Process by way of filing of Form INC-29, This process takes approximately 20 working days to get the entity incorporated.
➥ DSC & DIN :- Before applying for a name every proposed Director should have a Digital Signature and Director’s Identification Number.
➥ Form INC -29 :- In this process, all documents including AOA, MOA and other details along with the proposed name have to be filed. You will get two chances if the proposed name is not available, therefore, this process is to be adopted very carefully.
➥ Registration of Entity :- If the name is acceptable to the Dept. and other documents are filed correctly, incorporation will be issued. Else, resubmission with new name may be required.
Documents required for Incorporating a Private Limited Company
— Documents required for Name Approval
1. Copy of Income Tax PAN (Permanent Account Number) of all directors / Promoters.
2. Copy of Address Proof (Voter Id, Passport, Driving License, Aadhar Card) of all Directors / ShareHolders.
3. Latest passport size Photographs of all directors / Promoters.
— Documents required after Name Approval
4. Registered Office Address Proof – Electricty Bill along with Rent Agreement / ownership proof of proposed registered office.
5. Copy of Mobile bill, telephone bill, electricity bill or Bank Statement of all directors / promoters with Present address (could be different from permanent address).