Public Limited Company Within 21 days.
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The Public limited company is the company which is incorporated or registered under the Companies Act, 2013. It is different from the Private Limited Company, and therefore its compliance also changes. The shares of a Public limited company is issued to the public. These shares are then freely traded. Public Limited Company is also called as publicly held company. It can be listed on stock exchange, but for Private Limited Company it should first get converted into a Public limited company, only then it can be listed on the Stock exchange. In Public limited company, there should be a minimum paid up capital of Rupees 5 Lakhs, minimum 3 Directors and a minimum number of shareholder should be 7. Compliance for the Public limited company is also more as compared to other company.
To start a company, a minimum number of 2 members are required and a maximum number of 200 members as per the provisions of the companies act 2013.
Limited LiabilityThe liability of each member or shareholders is limited. It means that if a company faces loss under any circumstances then its shareholders are liable to sell their own assets for payment. The personal, individual assets of the shareholders are not at risk.
Perpetual successionThe company keeps on existing in the eyes of law even in the case of death, insolvency, the bankruptcy of any of its members. This leads to the perpetual succession of the company. The life of the company keeps on existing forever.
Index of membersA private company has a privilege over the public company as they don’t have to keep an index of its members whereas the public company is required to maintain an index of its members.
A number of directorsWhen it comes to directors a private company needs to have only two directors. With the existence of 2 directors, a private company can come into operations.
Paid up capitalIt must have a minimum paid-up capital of Rs 1 lakh or such higher amount which may be prescribed from time to time.
ProspectusProspectus is a detailed statement of the company affairs which is issued by a company for its public. However, in the case of a private limited company, there is no such need to issue a prospectus because in this public is not invited to subscribe for the shares of the company.
Minimum subscriptionIt is the amount received by the company which is 90% of the shares issued within a certain period of time. If the company is not able to receive 90% of the amount then they cannot commence further business. In the case of a private limited company, shares can be allotted to the public without receiving the minimum subscription.
NameIt is mandatory for all the private companies to use the word private limited after its name.
1. Self attested copy of PAN Card (Foreign Nationals & NRIs)
2. Self attested copy of Voter's ID/Passport/Driver's License
3. Self attested copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
4. Scanned passport-sized photograph
5. Sale Agreement, if owned or Rent Agreement, if rented
6. Scanned copy of No-objection Certificate from property owner
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