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HELPMYBIZ

PUBLIC LIMITED COMPANY

HELPMYBIZ IS A PIONEER IN SIMPLIFYING COMPLEX PROCESSES FOR ITS CLIENTS AND ENSURING THE WORK GETS COMPLETED PROFESSIONALLY WITHIN 8 WORKING DAYS!

What is a public limited company?

A public limited company comes into existence by following and abiding by the various rules and regulations written down in the Companies Act, 2013. This is considered as an end goal by many startups, as becoming a successful public company reaffirms its brand image significantly. It also acts as an exit point for the previous investors.

If a person wants he/she can open a public limited company right from the beginning as well. In this section, we will be discussing on what are the requirements for incorporating a public limited company, the benefits, and the various compliances you need to be aware of when opening it.

How you can setup your public limited company in just 3 steps!

Step 1

Connect with our experts so that we can understand your requirements. After understanding your needs, we help you pick a suitable and unique name.

Step 2

Apply for Name approval, DIN and DSC.

Step 3

Understand your requirements to draft an AoA and MoA. After these get approved we apply for TAN and PAN of the company.

Incorporating a public limited company can be quite troublesome with the numerous requirements and compliances it has to abide by when forming one. However it is a cup of tea for our team at HelpMyBiz! Contact us for the best advice and offers to get your company going today!

Under Companies Act, 2013. Section 2 (71)

A public company means a company which -

(a) is not a private company's

(b) has a minimum paid-up share capital of five lakh rupees or such higher paid-up capital, as may be prescribed:

Provided that a company which is a subsidiary of a company not being a private company, shall be deemed to be public company for the purposes of this Act even where such subsidiary company continues to be a private company in its articles;

BENEFITS

Let us understand the benefits we can avail of by incorporating a public limited company.

Separate Legal Entity

According to the Companies Act,2013 a public limited company is to carry an identity of its own which is separate from its Directors, shareholders, management, creditors, and debtors.

Limited Liability

The assets of the directors and shareholders is safe and are not to be touched in the case of insolvency of the company.

Fund Raising

A public company undergoes strict scrutiny before it is formed. Even after its formation, it needs to publish its annual reports publicly. This rigorous scrutiny gives confidence to investors and banks during fundraising.

Listing on Stock Market

A public company can choose to list on the stock market. This paves way for higher brand value and reputation compared to its peers.

Higher Liquidity for Shareholders

Since the company can list on the stock market, its shares become highly liquid as they can be traded between any 2 individuals with ease.

Increased Brand Recognition

A public company has a higher chance of getting recognized than a small private company.

PRE-PREPARATIONS REQUIRED

An Exclusive Name

The company needs to be registered under an exclusive name. A minimum of 2 names are sent to the Registrar of Companies during registration. You can verify whether your options do not sound similar to any current company by checking the mca portal.

Minimum of 3 Directors and 7 Shareholders

You need to have at least 7 people interested in investing in your public limited company. A director can also be considered a shareholder.

Registered Office

The company needs to mention a registered office from where it would initially conduct its business operations.

Paid-up Capital Contribution

The minimum paid-up capital required for a public limited company is 500,000/-

Business Object

The objective behind forming the company needs to be clear.

DOCUMENTS REQUIRED

Directors/Shareholders
01

Scanned Copy of Pan Card

02

Scanned Copy of Aadhar Card/ Voter Card

03

Address proof (Bank Statement, Mobile/Telephone Bill)

04

3 Passport size photos

05

Email ID and mobile number

Registered Office
01

Scanned NOC (No-Objection Certificate)

02

Utility Bills (Gas Bill/Electricity Bill)

03

Property Tax

04

Rent Agreement – If the property is rented.

REGISTRATION PROCESS

 

Day 1-2

Get in touch with our expert to get a better idea of the various technicalities involved in setting up a public limited company. Get expert suggestions on whether this business structure fulfills your requirements. After this, a Customer Relationship Manager will be assigned to help you with the process. We also request you to pay 50% of the fees upfront.

 

Day 3-4

Post receiving the fees we send your Digital Signature Certificate (DSC), Director Identification Number (DIN), and company name for approval.

 

Day 5-6

After DSC, DIN and Name are approved by the Registrar of Company a draft of Memorandum of Association (MoA) and Article of Association (AoA) is finalized and sent to you for your approval. We further request the remainder of the dues to be settled.

 

Day 7

Finally, the MoA and AoA are submitted to the Registrar of Company (ROC) and TAN and PAN are applied for at the same time.

 

Day 8

The registration process is complete and all the documents are sent to you immediately. We ensure you are satisfied with our service.

Our services are 100% online, so you can open your public limited company from the comfort of your home anytime! We strive to ensure that each step of the process is completed with perfection.

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Our Packages

BASIC

  • Documents verification
  • Name Reservation
  • Drafting & Filing by CS
  • Part-B Submission for address verification
  • Allotment of 3 DINs
  • Authorized Capital
  • MOA & AOA
  • Incorporation Certificate
  • PAN & TAN
  • ESIC & PF Registration
  • ADT-1 Auditor Appointment
Pay Now: 6999

Discount – 43%

Rs. 3989/-

Buy Now

SMART

  • Documents verification
  • Name Reservation
  • Drafting & Filing by CS
  • Part-B Submission for address verification
  • Allotment of 3 DINs
  • Authorized Capital
  • MOA & AOA
  • Incorporation Certificate
  • PAN & TAN
  • ESIC & PF Registration
  • ADT-1 Auditor Appointment
  • GST Registration
  • DSC of Three Directors
Pay Now: 14499

Discount – 31%

Rs. 10004/-

Buy Now

ALL IN ONE

  • Documents verification
  • Name Reservation
  • Drafting & Filing by CS
  • Part-B Submission for address verification
  • Allotment of 3 DINs
  • Authorized Capital
  • MOA & AOA
  • Incorporation Certificate
  • PAN & TAN
  • ESIC & PF Registration
  • ADT-1 Auditor Appointment
  • GST Registration
  • DSC of Three Directors
  • GST Return filing 1 Year
Pay Now: 30999

Discount – 29%

Rs. 22009/-

Buy Now

*(Exclusive of Government fees & taxes)

COMPLIANCES TO BE FOLLOWED

A public limited company is subject to the strictest compliances and scrutiny among all types of business structures. This makes it important for you to follow each of them to the point and within the due date.

We at helpmybiz strive to make our client's business journey easier by taking the load off their shoulders and ensuring that each of the compliances is met accurately well before the due date arrives! Get in touch with the expert today!

Below we mention some of the important compliances we need to take care of right after the company is formed.

Share certificate Issuance

Details of the allotment of shares of the company need to be properly mentioned and maintained in the register of allotment.

Auditor Appointment

The company needs to declare its statutory auditor within 30 days of incorporation and file form ADT – 1 with the Registrar of Companies.

Board Meeting

The first board meeting needs to be called within 30days of the formation of the company. The notice should be delivered to the attendees at least 7 days before the meeting date. We also need to ensure the minutes of the meeting are recorded and finalized within 30days of the meeting.

Director’s Declaration

The directors of the company need to be completely transparent about their interest in other companies, a group of companies, or any individuals or associations. They also need to elaborate on the nature of interest or concern and the shareholding they have in that company. Further, they need to keep on updating the board of directors in case any changes arise. All of this is filed in form MBP -1.

GST Registration and Filing

After a company has been formed, it is important for it to apply for its GST number. It becomes particularly compulsory if your business relates to inter state transactions, ecommerce transactions or an annual turnover of more than 20 lacs.

Annual Filings

Form AOC – 4 needs to be filed every year with the Ministry of Corporate Affairs. We need to ensure it contains several documents related to the financial health of the company like the Balance sheet with its notes, Profit and Loss Account, Cash flow statement, reports from the auditor and board, and any other relevant documents. We also need to file form MGT – 7 before 30th September every year. These are just 2 important forms among the many different forms a public limited company needs to file annually.

Our team at HelpMyBiz understands how important it is to file for the compliances on time so as to avoid the unnecessary payment of penalties and fines. We believe in delivering our work before time and keeping it professional. If you have any queries or doubts feel free to request a call back from the experts today!

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Why HelpMyBiz

Decade of experience in all sectors for tax & compliance services in India.

OVER 20 YEARS EXPERIENCE OF PROFESSIONAL SERVICE IN INDIA
WELL TRAINED AND DEDICATED EXPERT TEAM OF CA/CS/ADVOCATES
ONE STOP SOLUTION FOR ALL YOUR TAXATION AND COMPLIANCES NEED
FAST AND ACCURATE SERVICE
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