Public Limited Company Registration in India
To quench the requirement of large business capital, the Public Limited Company is formed. Practically, the capital is raised from the public via the public issue of Shares. To form a Public Limited Company, you need to have a minimum of seven shareholders and at least three directors.
Are you willing to set up a Public Limited Company? Then, professional guidance is what you need. At VJM & Associates LLP, we can help you with the process of documentation, filing of ROC forms, and all the other preparations you need to go through to form a Public Limited Company.
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What our clients say about us
By taking care of our Internal control policies and procedures, VJM Team have made sure that experience is hassle free.
Very professional approach from VJM Team, they got associated with us late in the financial year but were able to conduct an in depth audit and highlight the areas to be addressed within a short span of time. What gives us confidence is that they are available for consultation on any financial matter and are quick to find and implement the resolution
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VJM team is a thoroughly professional chartered accountants equipped with all resources and with deep understanding of GST and other contemporary arenas of corporate consultancy. Have interacted with them for various tax and corporate law related matters and found the interaction quite useful.
We are Repaibays Experts LLP. We are a new company and have just started our business in the field of AC charger installation. We have retained M/S VJM & Associates LLP; Chartered Accountants as CA for our company. They have a fairly large sized office and team and the whole environment seems professional and well organised: something which is very critical in this kind of business We wish VJM very well and am sure they are already a name to reckon with in the field of providing professional CA services !
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I hired VJM Associates and now I can completely focus on my business because I know there’s someone who is managing my accounts properly. Their team (including Khushboo and Jayant) are super supportive and friendly. I highly recommend VJM Associates. Give them a try! You won’t be disappointed
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We give full credit to VJM for streamlining our company’s GST compliance. Their dedicated team of learned professionals have a focussed approach & exceptional clarity when it comes to any questions pertaining to GST. I can say, without their support, it would not have been possible for us to sail past the initial turbulent period when GST was launched. Our best wishes always with them !
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Know More about Private limited Company
As per the Company Act 2013, a Public Limited Company is a company with limited liabilities and offers company shares to the common public. Anyone can buy their stock in a Public Limited Company through an initial public offering or via stock market trades. A Public Limited Company needs a minimum of seven people to start with. It must have a minimum of three directors. The same seven people can act as both directors and shareholders. One of the directors must have to be a resident of India. Capital of the business completely on the business need there is no statutory minimum requirement to start with. However, the minimum subscribed and authorised share capital requirement is Rs. 5 lakhs.
Firstly, you need to get the Director Identification Number (DIN) for the proposed directors.Then, obtaining the Digital Signature Certificate for promoters and directors is necessary.After that, one has to file a RUN application to the ROC for company name approval.After getting the name approval, the shareholders need to prepare the Memorandum of Association(MOA) and Articles of Association (AOA) and submit them to the ROC.Then, the company needs to get the company registration and certificate of incorporation.Finally, the company needs to file the commencement of Business Declaration before starting its operation
- Separate legal entity: Public limited company has separate legal entity, i.e., company is considered as independent from all its shareholders and directors. Therefore, sale by shares by existing shareholders, death of any shareholder or director will not affect the continuation of the company.
- Preference while getting a loan: Considering the involvement of public at large, compliance and transparency is very high in public limited company. It increases credibility of the company and companies have easy access to loans.
- Quick transfer of share: In a public limited company, you can obtain shares either at the time of IPO (Initial Public Offer) or through share market. This form facilitates quick transfer of shares.
- Documents of Company:
⚬ Proof of Address: Copy of utility bills such as electricity, not earlier than 2 months. In case of rented
premises, Copy of rent agreement alongwith No Objection Certificate from landlord.
- Documents of Directors:
⚬ Digital Signature: Passport size photograph, copy of PAN Card and Aadhar Card, email id and Phone number.
⚬ Identity proof: Voter’s ID Card, Passport, Driving Licence, PAN (Any one)
⚬ Address Proof: Copy of Bank statement, Electricity Bill, Telephone bills, not earlier than 2 months. In case of rented premises, Copy of rent agreement alongwith No Objection Certificate from landlord.
- Larger Capital: As the company structure permits listing of share at stock exchanges, anyone can invest in a Public Limited Company. Hence, it ensures more capital in Public Limited Companies.
- Amount of Risks get Spread: Since the share of the company is distributed in public, the unsystematic market risk gets spread. Hence the liability is limited.
- Free Transfer of Shares: The Public Limited Company shares are freely transferable. One can transfer his/her share in a Public Limited Company, even without the prior consent of other shareholders.
- Larger Borrowing Power: Public Limited Companies have the most significant leverage when it comes to availing financial assistance or borrowing from banks. Apart from that, Public Limited Companies have certain financial instruments usually which are unavailable to other forms of businesses.
- Perpetual Existence: No matter if any of the shareholders or directors dies, the existence of Public Limited Companies will never be affected.
- Ability to own properties: Public Limited Companies have separate legal entities from its shareholders and directors Therefore, it can obtain property (Movable or Immovable) in its own name. They can buy and sell properties just like an individual.
Starting from planning till the date of execution VJM & Associates can help you with everything you need to register your Public Limited Company. To be precise, here is what we can do for you.
- Getting the Digital Signature Certificate for the directors and shareholders
- Help you to obtain the Director Identification Number
- Preparing MoA and AoA
- Registration with ROC
- Obtaining the Company PAN card, TAN Card
- GST Registration of Company
- MSME, ESIC & EPF Registration, if applicable
6 step Public Limited company Registration
A Public Limited Company needs a minimum of seven shareholders and three directors. There can be a maximum of 15 directors, but there is no upper limit at the number of shareholders. However, at least one of the proposed directors must have to be a resident of India. There is no minimum capital requirement, but whatever the amount the company chooses, the registration fee will be calculated on that amount. The Public Limited Company formation is a 7 steps process. Have a look below,
Very first step to form a public Limited company is identification of minimum shareholders who will become subscribers of Memorandum of Association (“MoA”) and Article of Association (“AoA”) and minimum number of directors. Shareholders can be individual, firm or Company. However, only an individual can be appointed as director of the company.
Digital signature certificate of the personnel is needed in Private Company Incorporation in India. The digital signature certificate is required for filling of e-forms online on the portal of MCA (the Ministry provided portal for online registration). Digital Signature Certificate is issued by the Certifying Authority in token form. It is valid for 1 or 2 years.
List of documents required for digital signature certificate:
- Passport size photograph of the applicant or applicants
- Self-attested Address proof of the applicant or applicants
- Self-attested PAN card of the applicant or applicants
Director Identification Number or DIN is a unique identification number given by the Ministry of Corporate Affairs to the individual or in duals applying for the allotment of DIN. The number is assigned for a lifetime by the Ministry unless the holder or holders surrender or withdraw it. The director or directors of a company shall receive and intimate the DIN during the time of Private Ltd company incorporation. Getting DIN is mandatory for getting an appointment as Director in any Company. The director or directors can use the DIN number for other company formation. He/she/they can get an appointment as Designated Partner in the LLP.
List of documents required for digital signature certificate:
- Separate legal entity: Public limited company has separate legal entity, i.e., company is considered as independent from all its shareholders and directors. Therefore, sale by shares by existing shareholders, death of any shareholder or director will not affect the continuation of the company.
- Preference while getting a loan: Considering the involvement of public at large, compliance and transparency is very high in public limited company. It increases credibility of the company and companies have easy access to loans.
- Quick transfer of share: In a public limited company, you can obtain shares either at the time of IPO (Initial Public Offer) or through share market. This form facilitates quick transfer of shares.
The Fourth step you need to go for is to reserve the name of the Company. Name of the company should not be similar to the name already registered and must not contain any such word which is prohibited by the Companies Act, 2013. Name can be applied either by filing form RUN (Reserve Unique Name) or by filing SPICe. In the case of Public Limited Company, word “Limited” will be used at the end of the name of the company. Once a name gets the approval, it remains valid for a period of 20 days.
Given below are conditions imposed on it
- The name chosen for a new company registration should not be similar or identical to any registered company or trademark.
- The name should not be one objected or prohibited under the Emblems and names Act, 1950′.
- The name of the company must include the suffix Public Limited Company or Limited companyWhen the application for the company name or names are submitted, the registrar review, tally and approve one of the names requested by you. The process usually takes 3 to 5 working days to get approval.
- Articles of Association (AOA)
- Affidavits of the Directors
- Declaration from Directors
- Memorandum of Association (MOA)
The applicant or applicants must submit the relevant information regarding this to the registered office within 15 days of registration or during filing of incorporation documents.
After the successful submission of MoA and AoA and other essential documents, the ROC scrutinizes all of them. If they find that the documents are in the right order, the ROC issues the Certificate of Incorporation. This Certificate is received over mail in digital form digitally signed by RoC.
A public limited company is needed to file a declaration that all subscribers of Memorandum of Association have already paid subscribed share capital. Declaration is need to be filed within 180 days from date of incorporation.
Service after company Registration
Know more about our complete portfolio of Company formation Services.
ROC Compliances
As per The Companies Act, ROC compliances mainly include Annual filing. Apart from Annual filing, disclosure by directors, annual return draft, and updating the Statutory Register undergo ROC compliances. ROC compliances are mandatory. Any slack or negligence can lead to penalties, fines and other legal issues pertaining to the Company.
At VJM & Associates LLP we have the team of experts having expertise and experience in Company Law Matters.
Corporate Law Advisiory
The Companies Act 2013 has offered a new era of corporate governance, transparency and investor activism. We have the expertise and in-depth knowledge of the entire subject. We brainstorm on company compliances so that our clients can save time, money and labor to invest in their core competencies.
We offer a wide range of services on Companies Act, 2013 under one roof to serve different types of companies including PSUs, MNCs, listed and unlisted companies.
Company Audit
We are the market leaders to deliver a higher-quality accounting and reporting solution to our clients more quickly and efficiently in an environment of technological change, digital demonstration, could computing, online bookkeeping and GST filing, and increased regulatory changes and scrutinizes.
In an efficient IT environment, we create the Risk Management framework to offer you Risk Based Audit’ (RBA) that minimizes upcoming risk and maximizes revenues.
Learn MoreAmendment in Pvt Ltd Company
Your search for expert in GST for the representation under GST comes to an end as soon as you reach VJM & Associates LLP. We have years of experience and exposure for representation to authorities at various levels. We have expertise in solving various issues related to a dispute between tax authorities and supplier under the GST.
GST Registration
GST Registration is an online process involving submission of several business details along with certain supporting documents. Prior to the GST registration, a critical analysis of various business and transaction aspects like – nature of business, types of supplies/ services, category of registration etc. are required to be undertaken.
We, at V J M Associates LLP are equipped to provide qualitative value added services through the entire process of GST registration.
Accounting and Taxation Compliances
With a dedicated team of Chartered Accountants in Delhi, offer a wide range of services on how to maintain your companies and manage corporate income taxes including bookkeeping, accounting, financial statement preparation, electronic data transfer, corporate tax return preparation and paralegal services like preparation of annual shareholder report, tax refund, director resolutions, and annual filings.
Learn MoreWhy Choose Us
Client Centric Approach
Client is the key driver of our service offerings. Our approach to service offerings is based on a client centric and customized approach. Our specialized teams are a mix of technical and industry experience in order to serve clientele for their specific needs.
Quick Turnaround
We always endeavour for a quick turnaround time to serve our clientele. We are supported by an experienced and client focussed support teams to offer timely services to our clientele. In case of any business exigencies and time sensitive service requirements, you can always count on us.
Team Work
We have built high performing teams supported by strong work ethic. Our team is a mix of experts, professionals and support staff from technical and varied academic, cultural, social and ethnic backgrounds. We believe that this diversification plays a vital role in motivating the team into High Performing Teams.
Open Communication
We have built high performing teams supported by strong work ethic. Our team is a mix of experts, professionals and support staff from technical and varied academic, cultural, social and ethnic backgrounds. We believe that this diversification plays a vital role in motivating the team into High Performing Teams.
Driving quality in delivery
Our service offerings are driven by quality and reviews at every level. We strive to provide a qualitative and value-added delivery to our clientele. At all times, we endeavour to provide exceptional client service by meeting client expectations and driving client satisfaction.
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