A public limited company is a voluntary association of members which is incorporated and, therefore has a separate legal existence and the liability of whose members is limited. The company must have a minimum of seven members but there is no limit as regards the maximum number. Advantages of a public limited company would include; profits are bestowed upon the company’s shareholders, there are improved national insurance benefits, easy to transfer interest in business through ownership of shares.

Public Limited company/firm/ venture Advantage:

(I)Limited Liability for shareholders.

(II)The business is viewed as a separate legal entity.

(III)Ability to raise large amount of capital. Public limited companies are able to raise large sums of money because there is no limit to how many shareholders a PLC can have.

(IV)The shares of the Public company in India are freely transferable. This provides liquidity for shareholders.

MINIMUM REQUIREMENT 

• Minimum 7 Persons
• The Director and Shareholders can be same.
• Minimum share capital should be Rs 5,00,000 /- [INR Five Lac]
• DSC [DIGITAL SIGNATURE CERTIFICATE]
• DIN [DIRECTOR IDENTIFICATION NUMBER]
• Require Documents Address & ID proof of all Directors,
  • Mandatory – PAN Card
  • ID Proof – Voters Identity Card / Driving License / Passport / Aadhar Card
  • Address Proof – Bank Statement / Electricity Bill / Telephone Bill / Mobile Bill
• Address Proof of registered office – Address proof of proposed registered office for registration of company.

REGISTRATION PROCESS 

• Initial level discussion between the Promoters and FirstMan team.
  • Ascertaining documents required and availability.
  • Preparation and signing of documents.
• Getting DSC [DIGITAL SIGNATURE CERTIFICATE] for all Directors.
• Getting DIN [DIRECTOR IDENTIFICATION NUMBER] for all Directors.
• Name availability and draft Object Clause.
  • Online search of availability of names as desired by the directors.
  • Prepare the draft Object Clause.
  • Get approval from client for company name and objective.
• Application for Name Availability i.e. Filing Form 1A with the concern ROC.
• Getting Objective Confirmation.
• Incorporation of a company.
  • After ROC’s approval of name of the company, filing all the incorporation documents with the ROC.
  • Online uploading of e-forms and payment of registration fees.
  • Receiving Company Incorporation Certificate from the ROC.
• Commencement of Business.
  • Upon bringing capital into company, provide proof of subscribed capital paid by the company.
  • Online uploading of e-form.
  • Receiving Commencement Certificate from ROC.