Company is said to be form when it is being got listed under the New Companies Act 2013 of India. Amongst of various forms of corporate in India; public company is one of the reputed and highly esteem corporate that can issue securities in respect of raising funds.
- Ease to issue share to public
- Reliability in the worth of shares
- Able to implement the policy of distribution of workload
- Centralization system will help in building a team work
- Able to raise large capital
- Easy to have business growth while using funds
Besides these there are many more benefits that one can reap while registering the company as public limited. Capital raised from the initial public is a kind of safe source of capital which is permanent and no need to pay interest or repayable like debt. It will be easy for the company to grow its business while using the same raised funds where the roles and obligations of management if defined and liability is limited. Thus, there are some regulations and guidelines that need to follow for public limited company registration in India.
Steps and Process for Public Ltd. Company RegistrationThere are various prescribed rules and regulations have been stated for public limited company formation and incorporation in India under the New Companies Act, 2013. It is mandatory for one to follow each and every step while applying for the certification of the same company. Here below we bring you with detail steps to register a public limited company in India.
- Minimum 7 shareholders and 3 directors need to form a public ltd. company.
- Minimum share capital of worth 5 lacs require for the same.
- Require DSC - digital signature certificate for any one of the directors that can be apply while submitting the address proof and identity proof with self attested of the same director.
- Get DIN number - Director Identification Number that can be get while submitting directors personal details with attested copy to the concern DIN authority.
- An application is to be made for pre-name. Where there is need to list atleast 6 names in priority wise.
- An application for name availability is to be made comprised of 6 names and main objective clause; what a company pursue after incorporation.
- Representing the application to Registrar of Company along with the necessary documents like Memorandum and Articles of Association, duly filled Form DIR - 12, Form INC - 22, and Form INC - 7.
- In final process, get follow with ROC while paying registration fees; and make changes if require to MOA / AOA in other legal documents of the proposed company.
- Finally, after getting approval from all these prescribed steps; get apply for the certificate of commencent of Business and company incorporation and formation.