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A Public Limited Company can be incorporated under Company Act 2013 .It is a company that has limited liability and offers shares to the general public. The company is mainly suitable for the large scale of business where the capital will be high. Incorporation gives you a professional status and also Registering the Trademark of your company will help you to safeguard your identity and restrict others from using it.
The liability of the company is limited.The personal assets of the shareholders will not be used for unpaid debts. If the company is facing a financial crisis, the assets of the company will be used to pay back the debts.
It will be considered as a separate legal entity where the assets & liabilities of the business and directors are not same. Company will be considered to be a legal person and also holds the Right to Sue a third party in case of any dispute or default arises.
The capital for the company can be made with the help of issuing shares to the general public. It results in maximisation of capital in large scale.
You can start up your Public Limited Company with zero paid up capital. Now capital can not stop you from starting your business.
Aadhar / Voter ID / Driving licence / Passport
The Address proof of the members along with the Proof of the registered place of business (Ownership documents/ rent or lease agreement) or any bill in relation to electricity /landlord bill / bank statement.
The photos of the respective Directors , shareholders and designated authorities should submit for the clarification and proof of the concerned person.
The PAN card of the respective Directors, shareholders and designated authorities of the company.
Digital signature is the electronic signature format of the Directors / signatory authority for the purpose of e-filing the Register of Companies.
No objection certificate by the owner / landlord must be enclosed.
No maximum limit for members and the minimum members required is 7 members.
No minimum capital required for incorporation of a public limited company.
Yes, any Non Resident Indian (NRI) or Foreign National can become Directors but there should be at least one Indian resident on the Board of directors.
No, the personal assets of the members will not be used even for unpaid debts; only the profit earned and shareholding will be used to pay back debts.
If you have any further queries, get our experts’ opinion. For free consultation Contact our Nsight to resolve all your queries.