Public Limited Company Registration in Jaipur

Unlocking Opportunities with Public Limited Company Registration: Your Gateway to Growth

Welcome to MyBuddyCA, your reliable partner for navigating the intricacies of Public Limited Company (PLC) registration. Understanding the nuances of PLC is crucial for entrepreneurs aspiring to offer shares to the public and elevate their businesses to new heights. Let’s delve into the essentials of PLC and explore the pathway to successful registration.

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Defining Public Limited Company

As per the Companies Act 2013, a Public Limited Company is one that can offer shares to the public, with defined liability. The avenues for offering shares include Initial Public Offering (IPO) or trading on platforms like the stock market. PLCs follow strict regulations, ensuring transparency in financial disclosures to shareholders.

Characteristics of Public Limited Company

To comprehend the concept better, let’s explore the key characteristics of PLC:

  1. Directors: A PLC must have a minimum of 3 directors under the Companies Act, 2013 provisions.

  2. Paid-up Capital: There’s no minimum capital requirement for forming a Public Limited Company.

  3. Prospectus: A mandatory requirement under the Companies Act, 2013, a PLC must issue a prospectus to showcase its business affairs to the public.

  4. Name: All public companies must end their names with the word “Limited.”

  5. Limited Liability: PLC limits the liability of each shareholder, making owners jointly and severally liable for the business’s debts.

Requirements for Incorporating a Public Limited Company

  • Companies Act, 2013 outlines the necessary requirements for PLC incorporation:

    • Minimum 3 Directors and 7 Members: Essential for incorporating a Public Limited Company.
    • PAN Card: Self-attested PAN cards of members and directors.
    • Identity Proof of Directors: Self-attested ID proof, such as a valid Passport, Voter ID, Aadhar Card, or Driving License.
    • Address Proof: Self-attested address proof, like a Bank Statement, Electricity Bill, Telephone Bill, or Mobile Bill (not older than 2 months).
    • Passport Size Photo: 2-2 passport size colored photos of members and directors.
    • Business Address Proof (Owned/Rent/Leased): NOC from the property owner, property papers, or utility bill (not older than 2 months).

Recent Amendments and Changes

    1. No SRN Mention: No need to mention SRN for names reserved in Part A of SPICe+; it will be automatically displayed in Part B.

    2. Mandatory Registration for ESIC and EPFO: Mandatory for all new companies incorporated since 23rd February 2020.

    3. Professional Registration for Maharashtra: Mandatory for new companies in Maharashtra since February 23, 2020.

    4. Mandatory Bank Account Application: Necessary for all new companies incorporated since 23rd February 2020, filed through AGILE-PRO linked web form.

    5. Declaration Submission: Electronic submission of declarations for companies with up to 20 subscribers/directors (except if DIN and PAN are absent).

    6. Use of e-MoA (INC-33) and e-AoA (INC-34): Mandatory for up to 7 subscribers in specific scenarios.

    7. Physical Copies of MoA/AoA: Required for individuals’ first subscribers located outside India or lacking valid business visas.

    8. Mandatory Filing of Statutory Return: For companies with EPFO/ESI numbers, filing is required only if the threshold limit is exceeded.

  • MyBuddyCA simplifies the journey of PLC registration, ensuring compliance with recent amendments and facilitating a smooth incorporation process. Elevate your business, attract investment, and embark on a journey of success with MyBuddyCA’s expert guidance in Public Limited Company Registration in Jaipur.

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