Public Limited company defines under the Companies Act 2013 which offers its shares to the common people and can be acquired by anyone and also knows as Public Held Company. Its status is the separate legal entity. It is mandatory for a public company to publish its true economic status to its shareholders.

Both shareholders and directors are different in Public Limited company Registration. Shareholders are the true owners in the company. They are the only person who makes investment and gets shares in the company and directors are the people who are just managing the company affairs on a daily basis. In short directors are the employees of the company who deliver their services to the company and in return receive salary or remuneration as a fixed amount.

Highlights of Public Company Registration

The ownership lies with at least seven investors in Public company.
- In a public company, there must be at least 3 directors.
There is no limitation with respect to transferability of offers and no assent of investors is required to make viable.
There must be least 7 individuals that are required to frame and most extreme can be boundless.
All the working compliances of open organizations including development, twisting up are carefully managed by the guidelines and guideline represented by laws.
Managing power is in the hand of the Board of chiefs, investors don’t have the option to take an interest in every day the executive’s choice, and this characterizes the splitting of ownership from the managerial decision.
Shares are offered to the overall population everywhere.

Shortcomings of Public Limited Companies

The cost of a public company to start is too high.
Once the company goes public, its financial records open for anyone.
In the public company, anyone can buy any number of shares there is no limit.
Slow decision process due to management decision is in the hand of the board of directors.

Required Documents for Registration

For company details

Two names of the company (proposed)
Main object details
Capital details (authorised and paid-up)

For directors (min 3 person) and shareholders (min 7 person)

The copy of pan card
Self-attested copy of identity proof (voter card, passport, driving license)
Self-attested copy of address proof (bank statement, mobile bill, telephone bill, electricity bill not older than 2 months)
Photograph of all subscribers and directors
Email & Mobile number

For address proof (registered address)

Utility bill (electricity bill/telephone bill/mobile bill/gas bill) anyone is mandatory to submit at the time of company incorporation as a proof of the registered office address of the company
For rented property ( Rent agreement )
For consent, No objection certificate

The procedure of Public Limited Company Registration Online in India

Application for name availability

The name of the public company should close byword ‘Limited’ by submission with two names in the order of preference. Company name rules and procedures will be used at the time of name application filling.

Obtain a digital signature (DSC)

At the time of the company registration process, all the documents are submitted online. The forms are required certification of the directors and shareholders using a digital signature certificate. All directors and shareholders should have a digital signature certificate to validate the documents that are being filed.

Execution of company registration documents

After the company name approval, the company incorporation documents such as a memorandum of association (E-MOA) and articles of association (E-AOA) have to be implemented by the promoters in the approved layout along with documents i.e. DIR 2 consent to act as a director, INC 9 and declaration and KYC of promoters and directors and utility bill (Gas bill, Electricity bill, Telephone bill) not older than 2 months for registered office address.

Company incorporation E-form Submission

For completion of the process, it is required to submit the details in web forms named as Spice Plus, Agile Pro, Spice Moa, Spice Aoa and Spice Inc-9. Attach all-sufficient documents and complete the forms. After that, we need to download the final forms for affixing DSC and then upload it as a normal procedure. Make sure this is a web form so feed the data accordingly after login on MCA portal.

Generation of Certificate of Incorporation

After the approval received from the department, the certificate of incorporation will be issued along with the Pan Tan Number under the hand of Ministry of Corporate Affairs.

Know More: Startup Compliances

Conclusion

Here you can integrate a company with proper filling with the help of forms accessible on MCA site according to Companies Act, 2013. Maintaining a business is an essential stage for any businessman as one has to comply with all legal requirements in addition to inaugurates the business market. Where moving toward professionals at the local area is troublesome and expensive in the present time yet NeuSource give you the services of online registration of the company at reasonable costs with no problem.