PUBLIC COMPANY REGISTRATION

PUBLIC COMPANY REGISTRATION

A business can become a public limited enterprise, according to the companies’ act, 2013. And if this type of company wants to issue shares to the public, in exchange of funding, then it is allowed for them. Along this, for registration of public limited company, there is a requirement of minimum 7 members and at least 3 directors. In section 2(71) of the companies act, 2013 PLC is defined.

In case of public limited company, there is no minimum amount of start-up share capital is required for the registration, according to the regulations under the Act.

GUIDELINES RELATED TO PLC REGISTRATION

Here is the list of guidelines, which is required for the registration of public company.

• For the incorporation of a public company, there is a requirement of 7 shareholders.
• A public company needs minimum 3 directors.
• Among all the directors, one of them needs a Digital Signature Certificate (DSC) to sign digitally.
• All the directors must have DIN (Director Identification Number)
• Submission of main object clause, in which details of the company’s goals after the incorporation is defined.
• Along with the required documents like Articles of Association (AOA) & Memorandum of Association (MOA), apply for ROC.

REQUIRED DOCUMENTS FOR PLC REGISTRATION

All the following documents are required for the registration of a PLC.

• Documents of all directors and identities of shareholders such as PAN card, Voter ID, Aadhar card or driving licence.
• Address proof of all shareholders & directors
• Latest water/telephone/gas or power bill of the registered office, not more than 2 months older.
• No Objection Certificate (NOC) from the actual landlord of the premises is required for the incorporation.
• All Directors’ Identification Number (DIN).
• Directors’ Digital Signature certificates
• Memorandum of association & Articles of association.

PROCESS OF REGISTRATION OF PLC

The steps which are required for the incorporation of a company, are as follows :-

Step 1. :- The first step which is required to incorporate the PLC, is to get a DSC. This necessary document is issued by the certifying authority.

Besides this, all directors of the company must register for a DIN. The MCA has the simplest process of acquiring a DIN. By filling out the SPICe form, directors can apply simply for it.

Step 2. :- The next thing is to check on the website of MCA, whether the desired name of company is available or not. Must assure that the proposed name is not belongs to any other existing trademark or service mark.

Step 3. :- After the acceptance of proposed name, the applicant can apply for a certificate of incorporation by filling the SPICe+ form. Along with the form applicant must also submit all necessary documents including the Memorandum of Association & Articles of Association.

Step 4. :- CIN of a company, and the date of incorporation with the incorporation certificates, are issued after the entity’s paperwork has been received, processed as well as approved by the appropriate authorities.

Step 5. :- After getting COI, the members and the directors of the company can apply for the Permanent Account Number (PAN) and a tax deduction account number (TAN) to the MCA, assure that PAN & TAN to be issued in the company’s name (Ministry of Corporate Affairs).

Step 6. :- After getting all the required documents & certificates, now it becomes very simple for the members of a company to create a savings account in the name of company by providing the details from the PAN card and the COI to the Bank.