A Public Limited Company is a creation of law and is incorporated as per the law and provisions laid down in The Companies act 2013, and the rules made thereunder. Some various rules and regulations are prescribed under the Companies Act,2013 for the formation of a Public Limited Company in India.
The following criteria are required by the entity to be eligible to be registered as a public limited company:-
- Minimum Amount of Shareholders
For registering a public company, a minimum of 7 shareholders are required. Shareholders could be individuals, companies or LLPs, but only individuals can become directors of the company. A director need not be a shareholder of the company and shareholders need not necessarily be the directors also.
- Minimum Amount of Directors
A public limited company must have at least three directors. Among all the directors in the business, at least one must be a resident of India.
- Digital Signature Certificate of the Director
An individual or entrepreneur going for public limited company registration must carry out the formalities and apply for the digital signature certificate. All promoters and directors should have a digital signature certificate to authenticate the documents that are being filed.
- DIN for all Directors
DIN is an abbreviation for a director identification number. A director identification number (DIN) is an eight-digit number allocated to the director when the company recruits them. The proposed director must have a DIN allotted by the Ministry of Corporate Affairs.
- Capital Requirement
Invest as per requirement of your business, and there is no minimum capital requirement as such to be maintained in the company. However, the government fee on company registration is calculated on the capital.
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Note: This Post was last updated on March 1, 2022
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