A Public Limited Company is a Company limited by shares in which there is no restrictions on the maximum number of shareholders. It can solicit deposits and can issue shares or debenture to public. Its shares or debentures to Public and can make or accept deposits from Public and there are no restrictions on the transfer of shares. The liability of each shareholder is limited to the extent of the amount of shares subscribed. However, the liability of a Director / Manager of such a Company can at times be unlimited.
The minimum number of shareholders is 7 and Directors is 3 and there is no cap on the maximum number of shareholders.
A company must have a minimum of seven members but there is no limit as regards the maximum number.
The shares of a company are freely transferable. A limited company can raise capital, investments and loans from any available sources and it can accept deposits from public also.
The activities that can carried out by the company are defined by its Memorandum of Association (MoA) whereas Article of association (AoA) defines details of delegation of powers, authorities and how internal controls, board meetings shall be conducted.
The ownership lies with Shareholders but controls and authorities can be delegated to Director, who is responsible for day to day activities and functioning of the company.
Higher compliances requirements as compared to other business entities like Private Limited and LLP and Audit of accounts are mandatory in such company.
The liability of each shareholder is limited to the extent of the amount of shares subscribed. However, the liability of a Director / Manager of such a Company can at times be unlimited.
Basic Requirement To Register Public Limited Company
Need Minimum 7 Shareholders
Public Limited Company requires minimum 7 shareholders to register in india.
Minimum 3 Directors
Public Limited Company requires minimum 3 shareholders to register in india.
DIN for all the Directors
Public Limited Company requires Director Identification Number to register in india.
Digital Signature For All Directors
Public Limited Company requiresDigital Signatures for all Directors to register in india.
Documents Required to register Public Limited Company
Colour Photograph of each Director
Address Proof of each Director
Signature on Digital Signature Form
Signature on subscriber sheet of MoA/AoA.
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