A Public Limited Company registration in India is the best suitable business structure for entrepreneurs who are planning for large-scale business operations. To register a Public Limited Company in India there should be a minimum of seven members and there is no limit on the maximum number of members/shareholders for starting a Public Limited Company.
A Public Limited Company in India enjoys all the privileges of a corporate entity together with the features of Limited Liability. A public limited company gets listed with the stock exchange to raise capital from the general public. Hence, the Public Limited Companies have to comply with multiple regulations of the government and start a Public Limited Company.
A Public Limited Company that is registered under the provisions that are prescribed under the Companies Act,2013. The member of a Limited Company registered in India enjoys the features of Limited Liability and this type of entity is also allowed to raise capital from the public by the issuance of shares.
Also, the rules and the regulations of a Public Limited Company are more rigid and strict in comparison to the Private Limited Company. Still, it is better to incorporate a Public Limited Company as it provides the benefits of a Private Limited Company with features such as easy transferability and ownership of shares.
Step 1: It is necessary to meet all the legal requirements such as Number of Directors, Number of shareholders, minimum paid-up share capital have been fulfilled. The further steps of registration will be completed only if this step is complete.
Step 2: The next step is to obtain the DSC and DIN for the directors of the Company. Only a natural person can be a director not any individual or entities like the LLPs or Financial institutions. It is not necessary for the Director to be the shareholder of the Company.
Step 3: To be recognized as a registered office it is necessary to have a proper address of the Company. The Registered office address has to be registered with the Registrar of Company under whose jurisdiction the office falls. This office address is to be entered correctly as all the correspondence related to business will be made to the registered office address. The registration fee will be dependent on the authorized capital of the company.
Step 4: Before the procedure of registration, the name of the Company has to be approved by the ROC. For a Public Limited Company, the name must end with the word "Limited". This application will be filed in the RUN form of the Ministry of Corporate Affairs. It is better to provide a list of names in the order of preference, in case a particular name is not available.
Step 5: Once the name of the Company has been approved the crucial documents of the Company that is the MoA and the AoA need to be executed.
Step 6: Once the documents are prepared they need to be submitted to the ROC for verification.
Step 7: Once the verification is done the ROC registers the company and issue the incorporation certificate along with the CIN of the Company.
Step 8: The business cannot be started immediately after receiving the COI. The business has to apply for a certificate of commencement within 180 days of the COI stating that all the subscribers have paid the subscription money.
Some various rules and regulations are prescribed under the Companies Act,2013 for the formation of a Public Limited Company in Inia. Here is a checklist one should know of while registering a Public Limited Company:
Here are the advantages of registering as a Public Limited Company:
To register a company in India, the first step is to obtain name approval for the business from the Ministry of Corporate Affairs (MCA). This process takes about 24-48 hours. A private limited company name in India must end with the words private limited. One Person Company ends with (OPC) private limited. LLP end with LLP and Section 8 companies can end with words like foundation, association or institution.
A company name proposed to be registered cannot be identical or similar to an existing company name. Also, every company name must include a word that denotes the activity undertaken. For example, in VERVE Financial Services Private Limited - Financial Services denote the activity undertaken. Check Business Name Availability
All trademarks are registered in India with the Office of the Controller General of Patents, Designs and Trade Marks. A trademark application has to be filed under a class that denotes the type of goods or services the brand or logo represents. There are 45 trademark classes and each class represent a distinct type of goods or service.
Trademark search can be conducted using the tool above to check if any identical or similar brand or logo is registered or applied for under the same class. If there is an existing application, care must be taken while reapplying to ensure that the application is not rejected by the Trademark Registrar. Trademark Search
|Definition||Unregistered type of business entity managed by one single person||A formal agreement between two or more parties to manage and operate a business||A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company.||Registered type of entity with limited liability to the owners and shareholders|
For One Person Company
|Registration Time||7-9 working days|
|Promoter Liability||Unlimited Liability||Limited Liability|
|Governance||-||Under Partnership Act||LLP Act, 2008||Under Companies Act,2013|
|Transferability||Non Transferable||Transferable if registered under ROF||Transferable|
|Compliance Requirements||Know More|
Many small businesses pay lakhs in penalty every year to the Government for late filing various statutory returns. Such penalty or late fee paid is not tax deductible and is a drain on profitability. At IndiaFilings, our mission is to provide the most affordable services to our customers and help them avoid all late fee.To achieve our mission - we have built enterprise grade technology to help you proactively know the upcoming compliance and avoid penalty.Checkout our compliance services below, talk to an Advisor and stop paying unwanted late fees.
In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.
Every registered entity has to comply with all the compliance obligations after the completion of each financial year. Majorly, it includes the audit of books of accounts, income tax return filing, and annual forms with the MCA.
|Form||Company Compliance||Due date||Penalty|
|COB Filing||Commence of Business Certificate||To be filed before 180 days of company Incorporation||Rs.50,000 for non-compliance|
|DIR 3 EKYC||Any director with DIN||Before 30th September every year||Deactivation of the DIN
A late filing fee of Rs.5,000
Disqualification of the Directors
|Form ADT 1||Appointment of auditor||Within 15 days from the date of appointment of the Auditor||Late fees will be applicable, with fees ranging from 2 to 12 times the nominal fee, depending on the number of days of delay.|
|Form AOC 4||Filing financial statements of the company||30 days from the conclusion of the AGM||Late fees will be applicable, with fees ranging from 2 to 12 times the nominal fee, depending on the number of days of delay.|
|Form MGT 7||Annual Returns of the Company||60 days from the conclusion of the AGM|
In addition to the above filings, depending on the type of entity and business activity more compliance filing maybe applicable. Please check with an IndiaFilings Advisor to help you with the compliance for your company.
All Limited Liability Partnerships (LLP) registered in India are required to file statutory returns with the Ministry of Corporate Affairs (MCA) each year. IndiaFilings can help you maintain your LLP Compliance at a very affordable price.
|Form||LLP Compliance||Due date||Penalty|
|DIR 3 KYC||For every designated partners of a limited liability partnership (LLP) with DIN||Before 30th September every year||Deactivation of the DIN
A late filing fee of Rs.5,000
Disqualification of the Partners
|Form 11||Annual Returns||May 30th every year||Late fees will be applicable, with fees ranging from 1 to 50 times the nominal fee, depending on the number of days of delay.|
|Form 8||Statements of Accounts and Solvency||30th October every year||Late fees will be applicable, with fees ranging from 1 to 50 times the nominal fee, depending on the number of days of delay.|
Apart from the aforementioned filings, there might be additional compliance filings that could be relevant for LLPs. Please consult with an IndiaFilings Advisor to assist you with the compliance needs of your LLP.
|Private Limited Company||Annual Return (Form MGT-7)||60 days from the conclusion of the AGM or 28th November 2023 (Which Ever is Earlier)|
|Financial Statements (Form AOC-4)||29th October 2023|
|DIR-3 KYC||30th September 2023|
|Form DPT-3||30th June 2023|
|Form ADT-1||15th October 2023|
|ITR 6 (Non audit case)||31st July 2023|
|ITR 6 (Audit Cases)||31st October 2023|
|GSTR 9||31st Dec 2023|
|Limited Liability Partnership||ITR 5 (Non audit case)||31st July 2023|
|ITR Form 5 (Audit case)||30th September 2023|
|Annual return - Form 11||30 May 2023|
|Financial Statements - Form 8||30 October 2023|
Note : Get in touch with our experts to efficiently handle your compliance filings, whether you are an LLP, a company, partnership firm or a proprietorship. Contact us to ensure your compliance is filed before the due date.
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