Public Limited Company Registration Process

Introduction

Setting up a Public Limited Company (PLC) is an excellent choice for businesses aiming to raise capital from the public through the sale of shares. This structure provides the advantage of limited liability for its shareholders while allowing for significant capital accumulation.

Steps for Public Limited Registration

1. Obtain Digital Signature Certificate (DSC)

All directors must obtain a DSC for signing electronic documents. This certificate can be acquired from authorized certifying authorities recognized by the Ministry of Electronics and Information Technology.

2. Obtain Director Identification Number (DIN)

Each director must apply for a DIN, which is a unique identification number issued by the Ministry of Corporate Affairs (MCA). This application can be submitted online via the MCA portal.

3. Name Approval

Select a unique name for the company that complies with the MCA guidelines. You can propose one or more names and submit them for approval using the RUN (Reserve Unique Name) form.

4. Drafting of Memorandum and Articles of Association (MoA and AoA)

The MoA outlines the company’s scope of activities, while the AoA sets out the rules for internal governance. Both documents must be meticulously prepared as they are essential for the registration process.

5. Filing of Prospectus

Prepare a prospectus that provides details about the company, including its financial information, management structure, and plans for the future. This document is crucial for informing potential investors.

6. Filing of Registration Application

Submit the incorporation documents to the Registrar of Companies (RoC) using the SPICe+ form. This includes:
- MoA and AoA
- Proof of registered office address
- Identity and address proof of directors and shareholders
- Declaration by the directors

7. Payment of Registration Fees

Pay the requisite fees based on the authorized capital of the company. The fee structure can be found on the MCA website.

8. Certificate of Incorporation

Once the application and documents are successfully verified, the RoC will issue a Certificate of Incorporation, which serves as legal proof of the company’s existence.

9. Apply for PAN and TAN

After obtaining the Certificate of Incorporation, apply for the Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) through the NSDL website.

10. Open a Bank Account

Open a bank account in the name of the company using the Certificate of Incorporation and PAN.

11. Compliance with Post-Incorporation Requirements

Ensure compliance with post-incorporation requirements such as holding the first board meeting, issuing shares to shareholders, and maintaining statutory registers.

Required Documents

To successfully register a Public Limited Company, you will need the following documents:

Identity Proof of Directors and Shareholders:
- Aadhar card, Passport, Voter ID, or Driving License.
Address Proof of Directors:
- Utility bills, bank statements, or any government document showing the current address.
Registered Office Address Proof:
- Rent agreement (if applicable) along with a no-objection certificate from the property owner.
MoA and AoA:
- Drafted and signed by all the directors and shareholders.
Digital Signature Certificate (DSC):
- For all directors.
Director Identification Number (DIN):
- For all directors.
Prospectus:
- Detailing company information for potential investors.
Passport-sized Photographs:
- Recent passport-sized photographs of all directors.
Bank Account Statement:
- If available, for any capital contribution.

Conclusion

Registering a Public Limited Company is a crucial step for businesses looking to expand and attract public investment. At Jitva Foundation, we provide expert guidance and support throughout the registration process, ensuring compliance with all legal requirements.

For more information or assistance with your registration process, contact us at [email protected] or visit our website at www.jitva.in.