Public Limited Company

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CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration. CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration, CBIC chief Vivek Johri said.

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what is public limited company in india :

As per Section 2(71) of the Companies Act, a Public Company means “a Company which is not a private company”.

A public company is formed by a minimum of 7 (seven) Members with a minimum paid-up capital.

The public company may get itself listed in the stock exchange(s) and then its shares can be traded thereon. There are more statutory obligations on this type of entity than on a Private Limited Company.

Benefits of public limited company in india :
  • Limited Liability: The liability of the shareholders is limited to their shareholding only. The company may be sued but not involve any shareholders.
  • Number of Members: The minimum number of shareholders is seven and can occupy the number of shareholders up to its Authorized Share Capital.
  • Continuous life: The life span of a Public Limited Company is unaffected by incoming or outgoing of any member or shareholder.
  • Huge Capital: Public Limited Company can raise capital through stock market by issuing debentures and bonds from the public.
Documents required for public limited company (PLC) registration in India :
  • Identity proof of all the shareholders and directors: This could be any of the following documents: PAN card, passport, voter ID card, driving license, Aadhaar card, etc.
  • Address proof of all the shareholders and directors: This could be any of the following documents: electricity bill, telephone bill, bank statement, rent agreement, etc
  • Utility bill of the proposed office: This is a document that proves that the proposed office exists and is in the name of the company.
  • No Objection Certificate (NOC) from the landlord: This is a document from the landlord of the proposed office, giving their permission for the company to use the premises.
  • Director Identification Number (DIN) of all the directors: This is a unique identification number issued by the Ministry of Corporate Affairs (MCA).
  • Digital Signature Certificate (DSC) of the directors: This is a digital certificate that allows the directors to sign documents electronically.
  • Memorandum of Association (MOA) and Articles of Association (AOA):These are the two main documents that govern the operations of the company.

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