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A Public Limited Company is the most suitable & trusted form of business registered. Public Limited Registration is suitable for medium to large-scale businesses. At least there should be 7 shareholders and 3 directors during incorporation. A public limited company is a separate legal entity from its owners. It can enter into agreements under its own name. It has its own separate set of rules, obligations, regulations, and legal rights.
The primary reason for going with Public Company incorporation is shareholders’ limited liability. Shareholders are only responsible for the unpaid part of their shares. Promoters prefer Public companies that are aiming for listing on the stock exchange. Public limited company are businesses whose stock is traded on the stock exchange or that offer fixed deposits. A public limited company has all the benefits of a private limited company, including the ability to accept any type of membership, the simplicity of share transfers, and a high degree of openness.
Shares of public companies are freely transferrable unlike in private companies. The shareholders are free to buy and sell the shares to anyone. Banks & Financial institutions also prefer this entity for loans and funding. Although there are extra MCA compliance and applicability of other rules and regulations.
Limited Liability – A Company is a separate legal entity. Shareholders of any Company have limited liability.
1. Digital Signatures of Directors (DSC)
2. Director Identification Number (DIN)
3. MOA & AOA
4. Certificate of Incorporation (COI)
5. Company PAN & TAN
6. EPFO & ESIC registration
7. Bank account opening support
| Sl. No. | Particulars | Private Limited | One Person | LLP |
|---|---|---|---|---|
1 |
Eligibility |
Any individual may form a PLC. |
Only a natural person who is an Indian citizen and resident in India, shall be eligible to icorporate an OPC. |
Any individual and body corporate may be a partner in LLP. |
2 |
Taxation |
Taxed at 30% plus surcharge and cess as applicable. |
Taxed at 30% plus surcharge and cess as applicable |
Taxed at 30% plus surcharge and cess as applicable. |
3 |
Closure/Dissolution/Winding ups |
Can be initiated- Voluntarily, or By the Tribunal |
Can be initiated- Voluntarily, or By the Tribunal |
Can be initiated- Voluntarily by the partners or By the Tribunal |
4 |
Existence or Survivability |
PLC is not dependent on the directors or shareholder. Can be dissolved only voluntarily or by Regulatory Authorities. |
Existence of an OPC is not dependent on the Director or Nominee Director. Could be dissolved only voluntarily or by Regulatory Authorities. |
LLP can continue its existence irrespective of changes in partners. |
5 |
Credibility |
High |
Medium |
Medium |
A Public Limited Company is a Company limited by shares in which there is no restriction on the maximum number of shareholders, transfer of shares and acceptance of public deposits. The liability of each shareholder is limited to the extent of the unpaid amount of the shares face value and the premium thereon in respect of the shares held by him. However, the liability of a Director / Manager of such a Company can at times be unlimited. The minimum number of shareholders is 7.
For kick starting a public limited company, there must be at least 7 shareholders and 3 directors and the catch here is that the 3 directors should also be shareholders.
No a form once submitted cannot be refilled but if mentioned by MCA as there might be any mistakes and marked as For Resubmission.
Can the shares be exchanged easily in public company ?
The compliances are very high in terms of a public limited company as they deal with the stocks and also direct public share market trades under company’s name.
Attract funding in terms of venture capitals and Angel investors. Limited liability of shares and protection for shareholders. Open for public to invest into in the name of company stocks. Can make its own property and debts and as such in the name of the Company. The stock exchange would mention the company’s stock in London exchange.
Company name gets applied through SPICE part A. You can get the name via incorporation too. Separate filing of names is not mandatory.
Company registration is mandatory in India to start any business, so fixing the business structures is crucial. In India, there are seven different types of company registration: • Sole Proprietorship Registration • One-person Company Registration • Partnerships Firm Registration • Limited Liability Partnership (LLP) Company Registration • Private Limited Company Registration • Public Limited Company Registration • Section 8 Company Registration
The name and object of the company could differ and not be in consonance with each other. Promoters can keep the Company name on their initials. No need to change the company name in case of a business activity change. No need to get any sort of NOC whose name is being used in Company’s name.
Yes, NRIs, foreign nationals, and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to mandatorily be a part of the company on the Board of Directors.
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