A public limited company is a type of business structure in India that allows the company to offer shares to the public and raise capital through the sale of shares. This type of company provides limited liability protection to its owners and is subject to more regulations than a private limited company.
Here are the steps to register a public limited company in India:
- Choose a company name: Select a unique company name that is not already in use and complies with the guidelines set by the Ministry of Corporate Affairs.
- Obtain Director Identification Numbers (DINs): All directors of the company must obtain DINs by filing an application with the Ministry of Corporate Affairs.
- Obtain Digital Signatures (DSCs): All directors of the company must obtain digital signatures by obtaining a Class 2 or Class 3 digital signature certificate from a licensed Certifying Authority.
- File the incorporation documents: File the incorporation documents, including the Memorandum of Association (MOA) and Articles of Association (AOA), with the Registrar of Companies (ROC).
- Obtain the Certificate of Incorporation: Once the incorporation documents have been filed and approved, the ROC will issue a Certificate of Incorporation, which serves as proof of the company’s legal existence.
- Register for taxes: Register for taxes, including the Goods and Services Tax (GST) and obtain a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
- Comply with other legal requirements: Comply with other legal requirements, including the Companies Act, the Securities and Exchange Board of India (SEBI) regulations, and the Employee Provident Fund and Miscellaneous Provisions Act.
- Obtain public approval: Obtain public approval for the company’s articles of association and memorandum of association by submitting them to the ROC for approval.
- File for listing: File for listing with the stock exchange, which allows the company to offer its shares to the public and raise capital through the sale of shares.
In conclusion, registering a public limited company in India is a more complex process than registering a private limited company. It involves filing the necessary incorporation documents, obtaining required licenses and registrations, complying with legal requirements, and obtaining public approval for the company’s articles of association and memorandum of association. By following these steps, businesses can ensure that their company is legally established, recognized as a separate legal entity, and able to raise capital through the sale of shares.