Public Ltd. Company
A joint stock company is a public limited company. This type of business has no limit in number of members and is formed by the association of individuals voluntarily with paid up capital of Rs. 5 lakh or above. It is registered and governed by Indian Companies Act, 2013. Public limited is added to the name of the company and any public can get an invitation for subscriptions of shares and debenture of a public limited company.
Features of Public limited company
– A public limited requires a minimum of 3 directors.
– Shareholders have limited liability.
– Minimum of Rs. 5 lakh is required for establishing public limited company
Benefits of Public limited company
– High capital.
– High rate of attention.
– Less risk factor
– High growth opportunities
Requirements to register public limited company
– Minimum of 7 shareholders and 3 directors are required to form a public limited company
– Share capital must be Rs. 5 lakhs and more.
– DSC of one the directors with self attested copies of person details and proof
– DIN of directors
Application of name approval
– MOA, AOA
– Timely filed form DIR-12, INC-7 & INC -22 is required
– Registration fees to the ROC
– After approval from ROC, an application for the business commencement certificate should be filed.