\n\nContinuing on the series, today\u2019s discussion will be on another business entity, that is public Limited Company. A public limited company can be a wholly owned Indian company or a wholly owned subsidiary of a foreign company or a joint venture between a foreign and Indian company or a wholly owned foreign company. A public limited company should have a minimum of two directors. <\/p>\n\n\n\n
Features of a public limited company:<\/strong> Requisites<\/strong> Procedure for company registration:<\/strong> Public limited company can be converted to private limited company, OPC or LLP Share & Review us at : <\/p>\n\n\n\n Facebook <\/strong>: https:\/\/www.facebook.com\/totalsols<\/a> Continuing on the series, today\u2019s discussion will be on another business entity, that is public Limited Company. A public limited company can be a wholly owned Indian company or a wholly owned subsidiary of a foreign company or a joint venture between a foreign and Indian company or a wholly owned foreign company. A public […]<\/p>\n","protected":false},"author":1,"featured_media":209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,62,77],"tags":[74,76,75],"class_list":["post-249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounts","category-incorporation","category-public-limited-company","tag-company-registration","tag-private-limited","tag-public-limited-company-registration"],"_links":{"self":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts\/249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/comments?post=249"}],"version-history":[{"count":2,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts\/249\/revisions"}],"predecessor-version":[{"id":263,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts\/249\/revisions\/263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/media\/209"}],"wp:attachment":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/media?parent=249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/categories?post=249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/tags?post=249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u2022 Public limited company to be registered with the Ministry of Company Affairs or Registrar of Companies.
\u2022 The company incorporated has to have a name approval. If the name is available, the same shall be approved.
\u2022 This entity is treated as an artificial legal person in the eyes of law. That means that it can act as an independent person.
\u2022 Separate legal entity. The public limited company is an artificial juridical body established under Companies Act by Directors and Shareholders. The company is an independent body where it can possess and buy properties, incur debts and spend.
\u2022 Perpetual succession. Death, insanity, change in membership, bankruptcy etc will not impact the continuity. It will continue to exist until a legally appropriate decision.
\u2022 Limited liability. The liability of the shareholders is limited to the shares in the company. However, directors extending personal guarantee additionally will have unlimited liability.
\u2022 Equity: Shares are traded in stock market.
\u2022 They can issue fixed deposits.
\u2022 Owning assets: The company can own and transfer any kind of assets.
*Registration of a public limited company procedure *<\/p>\n\n\n\n
\u2022 Starts with identifying minimum three directors and 7 shareholders.
\u2022 A maximum of 50 directors can be on board.
\u2022 It can have unlimited shareholders.
\u2022 Minimum paid-up capital arequired Rs. 500,000.
\u2022 Objects of the company.
\u2022 Requirement of DSC.
\u2022 PAN card of the directors.
\u2022 Aadhar card of the directors.
\u2022 Address proof of the directors.
\u2022 Proposed authorised capital. Number of shares and face value of each share.
\u2022 Proposed paid-up capital. Number of shares allotted to each director for shareholders.<\/p>\n\n\n\n
\u2022 Apply for name clearance.
\u2022 Apply for company registration with draft MOA (Memorandum of Association) and AOA (Articles of Association).
\u2022 Pay the prescribed fees.
\u2022 If there is no objection, then ROC will allot incorporation. If any objections,we need to rectify for completing the process.<\/p>\n\n\n\n
Conclusions: \u00a0In a nutshell, a public limited company has preference in accessing loans and can list its shares in stock exchange. \u00a0Shareholders can transfer with great ease. Limited liability of directors and shareholders. \u00a0This makes it an ideal form of business for large business corporates. <\/p>\n\n\n\n
Linkedin:<\/strong>https:\/\/www.linkedin.com\/in\/a-subramani\/<\/a>
Instagram: <\/strong>https:\/\/instagram.com\/totalsols123?igshid=vhhhy4ozhh2q<\/a>
Youtube Channels : <\/strong>https:\/\/rb.gy\/q43drq<\/a> \/ https:\/\/bit.ly\/3ol827x<\/a><\/p>\n\n\n
\n
\n<\/p>","protected":false},"excerpt":{"rendered":"