Public Limited Company Registration in Chennai

Solubilis provide Public limited company registration in Chennai, Bangalore, Hyderabad, Cochin and anywhere in India. It is an investor friendly organisation setup. This type of company formation invites public participation either in the form of share capital or in the form of deposits. Public Limited Company is the height of corporate democracy. Critical decisions are made with the consent of majority shareholders. Board of directors are the supreme body which controls the management of the company through CEO’s /Managing Director. Section 2 (71) of the Companies Act, 2013 defines Public limited company. Public limited company is a company which is not a private limited company. There are no capital restrictions to form a Public limited company. Being an investor friendly organisation, the Government has imposed many restrictions /Compliance to make the company more transparent in giving information to the shareholders, prospective investors and the regulators like Department of company affairs, SEBI, stock exchanges etc.

Features
Documents required

The features of a Public Limited Company are mostly similar to that of a Private Limited Company. We briefly discuss the same as under:

It is a legal entity different from its members. It can hold property, borrow money etc. as a natural person.
Section 3 of the Companies Act 2013 states that seven or more persons are required to form a Public Limited company. Unlike a private Limited company, there is no restriction on the maximum number of shareholders.
Shareholders’ liability is limited to the extent of their unpaid share capital. The shareholders need not pay their personal money for the company Debt.
It is an investor friendly organisation, public at large can participate in their equity. The public limited company can invite deposit from the public.
Company form of entity will have a perpetual succession and continue forever.
Company will be managed by the Board of directors, there should be minimum of 3 directors and a maximum of 15 members in the Board.
The shares of the Public limited company are freely transferable from one person to another person.
Name of the company should always carry the words “Public Limited” in order to identify the entity.
It is a public investor oriented organisation, strictly to comply with complex rules and regulations. Public limited companies should maintain complete transparency in offering information to the public.
This is the best and most suited forms of organisation for a large corporate. Public limited companies are mostly manged by professionals.
Public limited companies have access to large financial resources which is an instrument for the growth of the public limited companies.

Proposed director & Shareholder - Indian Citizen:

PAN Card
Aadhar Card.
Proof for Address – Bank Statement or Telephone Bill or EB or Mobile Bill (Latest)
Passport Size Photo.

Proposed director & Shareholder - Foreign National:

A Copy of Passport ( Notary and Apostille is required )
A copy of address proof ( Notary and Apostille is required )
A copy of nationality proof ( Notary and Apostille is required )
Two passport size photo

Register Office documents:

If the Office is rental, rental agreement is inevitable
Electricity bill (Not more than two months old required to be submitted)
A Occupant needs to provide a No Objection Certificate from landlord to operate the business (NOC) if not rented.

FAQ'S

Public Limited Company is limited by shares. There is no prescribed minimal capital amount for public limited Company. For incorporation minimum three directors and maximum seven members required to form a public limited company and there is no maximum limit of members as in the case of public limited company.

There is no maximum limitation of members in public limited company. For the Business purpose the company can collect more funds, easy funding and funding resource from IPO are available. Implementing long term vision of business is possible in Public limited company. Public recognition and transparent business undertaking is greater degree.

Too many legal formality and every decision and modification following with prescribed limitation may delay the decision making is the only limitation and barrier coming with this Public Limited Company Registration.

Yes. A Public limited company can be converted into Private limited / One Person Company.

Normally registration of private limited takes 14 to 17 working days. But the processing time varies subject to the provision of documents by client and the time taken by MCA for approval.

Authorised capital is the maximum amount of equity shares that can be issued by a company. Paid up capital is the amount of shares issued by the company to shareholders / Members. There is no prescribed minimum limit of authorised and paid up capital required in order to start a private limited company. Authorised capital can be increased to any limit even after incorporation of company and Paid up capital is the value of shares allotted to the shareholders / members.