Outline of Public Limited Company Registration

An entrepreneur wishing to finance his/her ambitions including new construction of infrastructure or establishment of new facilities may opt for Public Limited Company Registration when targeting the public for funds. A Public Limited Company is the company of choice in most modern businesses as it offers an expanded opportunity for financing. Limited liability companies provide protections for small and medium-sized enterprises that need public equity finance. A Public Limited Company Registration comes into existence as per the provision of the Companies Act of 2013 where the ownership of the company is shared amongst shareholders by the number of shares they hold. Transfer of ownership is quick and possible on a public platform through share trading. They share profits according to agreed ratios and they limit themselves by their subscribed capital.

Regulations for a Public Limited Company Registration

Annual Regulation requirements (Unlisted Public Limited Company Registration) are as follows:

1. Section 173 Companies Act, 2013 - the company must conduct not less than four Board Meetings.


2. Rule 16 Companies (Acceptance of Deposit) Rules, 2014 - deposits must be reported in form DPT3 to the Registrar of Companies.


3. The AGM for dividend declaration should be done by section 96 of the Companies Act, 2013.


4. The CSR Committee shall have at least four meetings, not exceeding one hundred and twenty days.


5. Within thirty days following the Annual General Meeting (AGM), but not later than six months the CFO, CS or CEO is appointed.


6. According to Section 148(3) and Rules 6(2) and 6(3A) of Companies Rules, the auditor should be appointed. They have to fill in Form CRA 2 for this purpose.


7. Under section 184(1) of the Companies Act, 2013 and rule 9(1) of the Companies (Meetings of Board and its Powers) Rules the directors should disclose their financial statements.

Annual Compliance Requirements (Listed Public Limited Company Registration) are as follows:

1. The company must organise an annual general meeting as per Section 121(1) Companies Act, 2013 and Form MGT-15 should be filed within not more than 30 days.


2. The Financial statements must be uploaded on the company website as per Section 137 Companies (Accounts) Rules in Form AOC 4


3. Audit report must be submitted to the Registrar as per section 204 Companies Act, 2013.


4. An annual return must be filed with directors and shareholders details according to Section 92 of Companies Act 2013


5. Listed company must file Form ITR 6 for the income tax returns on or before September 30th of every financial year

What are the requirements of Public Limited Company Registration?

The key requirements as follows:

1. Requirement of Shareholders: In Public Limited Company Registration, there must be at least seven shareholders


2. Number of Directors: At least three Directors is required for the establishment a Public Limited Company.


3. Share Capital: The minimum share capital should be at least Rs. 5 lakhs


4. Company Name: An application has to be made for the company’s name


5. Object Clause: An application should also contain the main object clause referring to purposes of the Company established at incorporation


6. Document Submission: Fill in the MOA, AOA, Form DIR-12, Form INC-7, and Form INC-22 and submit it to the Registrar of Companies.


7. Registration Fees: The required registration of the regulation charges must be paid.


8. DSC: DSC stands for Digital Signature Certificate which one of the directors must possess for signing and attesting documents purposes


9. DIN: Each Director must have a unique Director Identification Number


10. Certificate of business commencement: The business commencement certificate is required for every public limited company which can be obtained after the ROC approval.

What are the advantages of Public Limited Company Registration?

Public Limited Company Registration offers several advantages as follows:

• Distinct Legal identity - A Public limited company has its distinct legal identity apart from its shareholders. It has a PAN, a bank account, allotments, agreements, licences, properties & debts. It provides legal protection to shareholders in their separation, and it does.


• Limited Liability - A public limited company provides limited liability protection to shareholders. Shareholders' assets are protected against unexpected liabilities/financial difficulties as they remain only responsible for what they have invested into the firm's shares.


• Several funding opportunities - A Public Limited Companies can experience the advantage of raising capital from various sources such as corporations or individual investors. It also provides a good scope for flexible capital acquisition through issues of equity shares, preference shares and debentures.


• Easy Share Transferability - These shareholders can readily sell their shares to other individuals or entities inside India as well as outside India with ease.


• Growth Opportunities - Public Limited Companies with huge capital bases have room for expansion. These provide them with an opportunity to conduct big projects, expand operations and enter into other markets for further growth.


• Management Structure - Such companies are controlled by Boards of Directors, which are elected by the shareholders. Transparency, accountability, and good decision-making are fostered by this professional management structure.

Public limited companies offer certain advantages to enterprises which are seeking capital infusion, expansion and growth besides a legal establishment that provides shareholders with limited liability while opening up new opportunities for development and establishment.

What are the important documents required for Public Limited Company Registration?

The documents required during Public Limited Company Registration are listed as follows:

For Directors and Shareholders (Indian Nationals):

1. PAN Card (Mandatory).


2. ID proof (Voter Card, passport, driving license).


3. Recent utility bills like electricity, phone, and/or bank statements that are not more than two months old.


4. Certified copy of board resolution or LLP authorizing the director/partner.


5. Two passport-size photos

For Directors and Shareholders (Foreign Nationals):

1. Passport (Mandatory) for Nationality Verification


2. Identity Proof, passport, driving license


3. Recent utility bills such as Electricity, Phone and Bank Accounts (within 2 months).


4. Director/Partner Authorization — Board Resolution Copy or LLP.


5. Two passport-size photos

For Registered Office Proof:

1. Rental agreement and rent receipts.


2. Copy of Latest Utility Bills (Electricity, Water, Or Gas Bills Only).


3. Letter of No Objection from the Landlord (NOC).

Procedure of Incorporation of a Public Limited Company

Public Limited Company Registration is done in the following steps:

1. Documentation - Get together all the documents as mentioned above during the process of incorporation.


2. Select a name for your company - The right company name for your Public Limited Company should be in line with legal requirements; which means that it must not have already been taken by other companies and/or registered as a trademark.


3. Reservation of the Company Name - Ensure that the selected name is reserved with ROC to avoid someone else using it wrongfully.


4. Filing of SPICe+ application - Fill in the SPICe + online form available through the official corporate affairs ministry site. The application includes two parts: Name Reservation and Company incorporation. The company director should complete it and sign in.


5. Certificate of Incorporation and CIN - In this step the ROC reviews the documents and upon being satisfied approves for the Public Limited Company Registration by issuing a Certificate of Incorporation with a Corporate Identification Number (CIN).


6. Issuance of PAN and TAN - After receipt of a certificate of incorporation, the Ministry of Finance will issue the Permanent Account Number (PAN); tax deduction & collection account number (TAN) to the company.


7. Filing Form 20 A - Form 20A is the declaration of commencement of business that must be made by the director of the company, and it must be done within 180 days of the Public Limited Company Registration.

Why Adviso?

The process of Public Limited Company Registration involves a wide range of requirements, document preparation, and pre- and post-compliance obligations It is important to comply with the specific terms of the Company's Articles of Incorporation (MCA). The incorporation of a Public Limited Company can be a tedious process without professional support. That’s where Adviso comes in.

At Adviso, we provide expert services for the online company registration process on the MCA website. Our experts comprising Lawyers, CA, and CS will guide you through every step of the journey to ensure your company lists smoothly and efficiently.

With Adviso's expertise and assistance, you can navigate the complexities of company registration with ease, saving time and ensuring compliance with all necessary regulations.