For business owners who intend to run large-scale activities, Register a Public Limited Company in India is the best option. There is no maximum number of members/shareholders that can form a Public Limited Company in India; however, there is a minimum need of seven members. Public Limited Corporations are the best option for small and medium-sized businesses looking to raise equity capital from the general public since they have all the rights of a corporate organization with Limited Liabilities.

Procedure for Obtaining Public Limited Company Registration

To register as Public Limited Company follow the steps given below carefully- 

1. It is required to comply with all legal criteria, including the minimum paid-up share capital, the number of directors, and the number of shareholders. Only after this step the registration process proceed forward. 
2.  The next action is to get the DSC and DIN for the company’s directors. Only a natural person, not any other person or an entity like an LLP or a financial institution, is eligible to serve as a director. It is not required that the Director own shares of the company. 
3. The Company must have a valid address in order to be recognized as a registered office. The Registrar of the Company under whose jurisdiction the office falls must have the registered office address on file. All business-related correspondence will be sent to the registered office address, so make sure to input it correctly. The registration charge will depend on the company’s permitted capital.
4. The ROC must approve the Company’s name prior to the registration process. The name must include the term “Limited” at the end for a Public Limited Company. This application will be submitted through the Ministry of Corporate Affairs’ RUN form. In the event that a particular name is not available, it is preferable to submit a list of names in the order of preference.
5. The MOA and the AOA, which are two of the Company’s most important documents, must be signed after the name of the Company has been approved.
6. The documents must be submitted to the ROC for verification after they have been prepared.
7. Following the completion of the verification, the ROC registers the business and issues the incorporation certificate along with the company’s CIN.
8. After acquiring the COI, the company cannot immediately begin operations. Within 180 days of receiving the COI confirming that each subscriber has made their subscription payment, the business must file for a certificate of commencement.

Documents Required to Register a Public Limited Company in India

The following papers must be gathered by the applicant and submitted with the application for incorporation-

• All the named directors and shareholders must provide identity proof, such as an Aadhar card, PAN card, driver’s license, or voter ID.
• Address verification for each prospective director and shareholder of the business.
• PAN card information for each director and shareholder
• Utility bills from the registered office, such as the telephone, gas, water, or electricity account, might serve as residential proof that the business is located there. It must be no older than two months.
• A NOC, or No Objection Certificate^[1], issued by the building’s landlord.
• DSC, or the Designated Directors’ Digital Signature Certificate
• Articles of Association (AOA) and the Memorandum of Association (MOA) 

Conditions for the Registration of Public Limited Companies 

Here are the prerequisites you must meet to incorporate a public company in India in accordance with the rules of the Companies Act, 2013, in India-

• A minimum of 7 shareholders are required for the proposed firm.
• The proposed corporation must have three directors at a minimum.
• No minimum investment is necessary
• A Digital Signature Certificate and an Article of Association and Memorandum of Association must be held by at least one director.
• The planned public company must submit an application for the “Certificate of Business Commencement” after receiving approval from the Registrar of the Companies.

Conclusion

Unquestionably, the registered Public Limited Company is a successful company structure from which one can derive a number of advantages. To ensure the future viability of the business, it is crucial to strictly comply with the compliance requirements under the 2013 Companies Act. Consult Bizadvisor.io, your dependable legal partner, for advice if you wish to register a Public Limited Company.

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