Public limited company
A company is said to be public limited, when it is limited by shares. In this case, no restriction exists on the number of shareholders, receiving public deposits and transfer of shares. Each shareholder has a limited liability to the extent of the amount which is unpaid for the face value of the shares and thereon, the premium with regard to the shares that he holds. However, at times, the manager or director of public limited companies can have unlimited liabilities. Here, an upper cap of 7 is imposed on the number of shareholders.
Eligibility criteria for registering Public limited company
• The shareholders and directors may be the same individual
• The company should have at least seven shareholders and three directors
• One of these directors need to be an Indian Resident
• The company should have INR five Lac (100,000) as the Minimum Authorized Share Capital
• Provide the Director Identification Number (DIN) for all the directors
• Digital Signature Certificate for one witness and 2 promoters
Documents required for registering Public limited company
1. Copy of PAN CARD of the proposed directors
2. Directors’ phone numbers
3. Directors’ email IDs
4. Copy of address proof
5. Utility bill like gas, electricity, telephone or mobile, which should not be older than two months
6. Directors’ occupations
7. Photo (passport size) of the proposed promoters and directors in JPG format
8. Based on preference, you need to provide options for the company name
9. Promoters’ and directors’ residence proof address like mobile bill, bank statement, electricity bill or telephone bill (recorded within two months)
10. Registered proof of office address like title deed or rent agreement