Public Company Registration
Complete by: within 15 days*
*Subject to approval of Government portal services
- Inc. Govt fees upto 5 lakh capital
- Certificate of Incorporation
- PAN and TAN
- MOA and AOA
- PF Number
- ESIC Number
- 7 DSC
- INC-20A (Business Commencement)
- MSME registration
- Share Certificate
- 3 DIN
Public Company Registration In Pune:
The Public Company Registration process in Pune can be initiated through the Startup Portal, an online platform designed to simplify the registration process for startups. The portal provides a user-friendly interface to access various government services and facilitates the submission of documents and payment of fees online. Startups can register their Public Limited Company by submitting the required documents, including the Memorandum of Association, Articles of Association, and other statutory documents through the portal. The portal also provides information on various schemes and incentives available for startups, making it a one-stop-shop for all startup-related requirements. By leveraging the Startup Portal, startups can streamline the registration process and focus on their core business operations.
What is Public Company Registration?
Public Company Registration is the process of legally establishing a company that is publicly traded and has limited liability. A Public Limited Company (PLC) is a type of business entity that can raise capital by issuing shares to the public, and its shareholders have limited liability for the company’s debts and obligations. Public Company Registration is subject to various laws and regulations, which ensure the protection of the company and its shareholders’ interests.
Key Characteristics of a Public Limited Company
When it comes to public company registration, understanding the key characteristics is essential. Below are the fundamental features of a public limited company:
- Board of Directors: As per the Companies Act, a public limited company must have at least three directors, with no upper limit. The board is responsible for overseeing the company’s management and making crucial strategic decisions.
- Company Name: A public limited company must include the word “Limited” in its name. This indicates the company’s public status, allowing it to trade shares on the stock market and accept public investments.
- Company’s Prospectus: Public limited companies are required to prepare a prospectus, which provides detailed information about the company’s operations, financial status, and potential investment opportunities. This document helps investors make informed decisions.
- Paid-Up Capital: The Companies Act does not impose a minimum capital requirement for public company registration, giving companies flexibility to determine their initial share capital based on their needs and goals.
These characteristics play a crucial role in the public company registration process, ensuring compliance and enabling companies to access public investments.
Types of Public Limited Company
In the process of public company registration, public limited companies are generally classified into two types:
- Listed Company: A listed public limited company has its shares traded on one or more stock exchanges. This provides easy access for the public and institutional investors to buy and sell shares, enhancing liquidity and attracting a broad investor base. Being listed also increases the company’s visibility and exposure in the financial market.
- Unlisted Company: An unlisted public limited company does not have its shares traded on a stock exchange. As a result, the transfer of shares is more restricted, and the company faces fewer public regulations and scrutiny compared to listed companies. Unlisted companies may choose this route to expand their shareholder base while avoiding the complexities of full public trading.
Both types of public limited companies offer different benefits, and choosing the right type plays a significant role in the public company registration process, depending on your business goals and investment strategies.
Minimum Requirements for Public Ltd. Registration in Pune?
The minimum requirements for registering a Public Limited Company in Pune are:
- Minimum number of shareholders: A Public Limited Company must have at least seven shareholders.
- Minimum number of directors: A Public Limited Company must have at least three directors.
- Authorized capital: A Public Limited Company must have a minimum authorized capital of Rs. 5 lakhs.
- Registered office: A Public Limited Company must have a registered office in India.
- Digital Signature Certificate (DSC): All directors of the company must obtain a Digital Signature Certificate (DSC) to file the registration application online.
- Director Identification Number (DIN): All directors of the company must obtain a Director Identification Number (DIN) from the Ministry of Corporate Affairs.
- Name availability: The company must choose a unique name that is not already registered with the Registrar of Companies (ROC) in Pune.
- Memorandum of Association (MOA) and Articles of Association (AOA): The MOA and AOA are legal documents that define the objectives and rules of the company. These documents must be drafted and filed with the ROC at the time of registration.
- Payment of registration fees: The company must pay the prescribed registration fees to the ROC at the time of registration.
Benefits Of Public Ltd. Company Registration in Pune
Public Limited Company registration in Pune offers many benefits, some of which are:
- Limited Liability: The shareholders of a public limited company have limited liability, which means that their personal assets are not at risk in the event of the company facing financial difficulties.
- Access to Capital: Public limited companies have access to a wider range of capital sources, such as the stock market, as compared to other business structures.
- Perpetual Succession: The existence of a public limited company is not affected by the death or departure of any of its shareholders or directors. This ensures that the company can continue to exist and operate even if some members leave.
- Credibility and Trust: Public limited companies are seen as more credible and trustworthy than other business structures, which can help attract customers, investors, and business partners.
- Transferability of Ownership: The shares of a public limited company can be easily bought and sold, making it easy for shareholders to transfer their ownership without affecting the company’s operations.
- Better Management: Public limited companies have a professional management structure that is responsible for the day-to-day operations of the company, ensuring better decision-making and effective governance.
- Tax Benefits: Public limited companies are eligible for several tax benefits and deductions, which can help reduce the tax liability of the company and its shareholders.
Overall, Public Limited Company registration in Pune offers many advantages, making it an attractive option for businesses looking to expand and raise capital.
Process For Registration Of a Public Limited Company in Pune:
The process of public limited company registration involves several key steps to ensure compliance with regulatory requirements. Here’s a detailed guide to the procedure:
Step 1: Obtain Digital Signature Certificates (DSC)
Before initiating the public limited company registration process, ensure that all proposed directors and subscribers to the memorandum and articles of association obtain Digital Signature Certificates (DSC). DSCs are essential for submitting online forms through the Ministry of Corporate Affairs (MCA) portal.
Step 2: Apply for Director Identification Number (DIN)
Each proposed director must apply for a Director Identification Number (DIN). This can be done through the SPICe form, which streamlines the application process. Directors will need to provide identity and address proof when applying for their DIN.
Step 3: Check Company Name Availability
Verify the availability of your desired company name using the MCA online portal. It is crucial to ensure that the name is unique and doesn’t infringe on any existing trademarks or company names, as this establishes your company’s identity.
Step 4: File SPICe+ Form
Once the company name is approved, file the SPICe+ form to initiate the registration. This form handles the legal requirements for incorporating a company. You will also need to submit the Memorandum of Association (MOA) and Articles of Association (AOA), which define the company’s constitution and management rules.
Step 5: Obtain Certificate of Incorporation
After submitting the SPICe+ form and all necessary documents, the Registrar of Companies (ROC) will review your application. Upon successful verification, the ROC will issue a Certificate of Incorporation, marking the legal establishment of your company. This certificate includes your company’s Corporate Identification Number (CIN) and incorporation date.
Step 6: Apply for PAN and TAN
Once your company is incorporated, apply for the Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN). These are mandatory for tax-related activities and compliances.
Step 7: Open a Company Bank Account
Next, open a company bank account using your Certificate of Incorporation, MOA, AOA, PAN, and other required documents. This account will handle the financial transactions of your company.
Additional Steps
Depending on your industry and business activities, additional registrations or approvals may be required, such as GST registration, import/export code, or other industry-specific licenses. At Startup Portal, we offer expert assistance to ensure your public limited company registration is seamless and compliant with all legal requirements. Let us help you navigate the process and establish your company successfully.
Documents For Registration of a Public Limited Company in Pune:
To register a Public Limited Company in Pune, the following documents are required:
➤ Memorandum of Association (MOA): Legal document outlining company’s objectives and scope of operations.
➤ Articles of Association (AOA): Internal rules and regulations of the company.
➤ Certificate of Incorporation: Legal document issued by Registrar of Companies (ROC) certifying the company’s registration.
➤ Director Identification Number (DIN) and Digital Signature Certificate (DSC): Required for all directors of the company.
➤ Proof of Registered Office: Rental agreement, latest electricity bill or proving the registered office address.
➤ Consent of Director: Confirms that the director is willing to act as a director and not disqualified.
➤ PAN Card of the Company: Mandatory document for all registered companies in India.
➤ Identity and Address Proof of Directors and Shareholders: PAN Card, Aadhar Card, Voter ID, or Passport or driving license and latest bank statement.
➤ Declaration of Compliance: Document signed by directors and secretary, confirming legal requirements for registration have been met.
What is included in Our Public Company Registration Package?
The public company registration startup portal package includes the following services?
- Obtaining Digital Signature Certificates (DSC) for the directors and shareholders of the company.
- Applying for Director Identification Number (DIN) for the directors of the company.
- Name search and reservation with the Registrar of Companies (ROC).
- Drafting and filing of the Memorandum of Association (MOA) and Articles of Association (AOA).
- Obtaining the Certificate of Incorporation from the ROC.
- obtaining the company’s Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
Why Choose Startup Portal a Public Company Registration in Pune?
There are several reasons why the Startup Portal is a convenient option for Public Company Registration in Pune:
- Expertise and Experience: Startup Portal has a team of experienced professionals who can guide you through the entire process of public company registration. We have a deep understanding of the legal and regulatory requirements, which can help you avoid any costly mistakes.
- User-friendly interface: The Startup Portal has a user-friendly interface that makes it easy for startups to navigate and complete the registration process.
- Online submission of documents: The portal allows startups to submit the required documents online, reducing the need for physical visits to government offices.
- Payment of fees: The portal facilitates the online payment of fees, eliminating the need for cash transactions and reducing the overall cost of registration.
- Time-efficient: The Startup Portal streamlines the registration process, making it quicker and more efficient.
- Access to incentives and schemes: The portal provides startups with information on various incentives and schemes available for startups, making it easier for them to avail of these benefits.
Overall, the Startup Portal simplifies the Public Company Registration process in Pune, making it easier and more convenient for startups to establish their businesses.
Frequently Asked Questions(FAQ's):
A Public Limited Company can offer shares to the public, and its shares can be traded on the stock exchange, whereas a Private Limited Company cannot offer its shares to the public and has restrictions on the transfer of its shares.
A Public Limited Company must have at least seven shareholders.
At least 3 directors are required to form a public limited company. Minimum share capital is Rs. 5 lakhs is required. DSC of all the directors and shareholders is required when a self-attested identity copy and address proof are submitted.
The registration process can take between 15-20 days, depending on the processing time of the Registrar of Companies (ROC) and the completeness of the documentation.
Yes, a Public Limited Company can be converted into a Private Limited Company by following the process laid down under the Companies Act, 2013.
Ownership of a public company is distributed among common public shareholders
No, There must be a minimum of 7 shareholder, Generally, shareholders have no personal liability beyond the amount agreed to be subscribed for shares.
Types of Shareholders:
- Equity Shareholder:
- Preference Shareholder:
- Debenture holders: