Public Limited Company Registration In Chennai
A public limited company offers its owners the advantages of limited liability and gives them full permission to sell their shares to raise money. A public limited company’s shares are available for purchase by any interested parties.
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Public Limited Company Registration in Chennai
A Public Limited Company Registration In Chennai is a type of company that shares many of the same characteristics as a Private Limited Company, such as ease of transferability, borrowing capacity, limited liability, and perpetual existence. In India, Public Limited Companies are registered according to the rules and regulations of the Companies Act, 2013. These companies enjoy additional benefits compared to other types of companies.
If you are looking to set up a Public Limited Company Registration In Chennai, you should be aware of the requirements prescribed by the Registrar of Companies (RoC). This includes fees, capital requirements, documents required, the minimum number of members and directors, and the process for registering a name.
Benefits of incorporation of the Public Limited Company in Chennai
- Limited Liability: One of the main advantages of incorporating a Public Limited Company Registration In Chennai is that the shareholders of the company have limited liability. This means that the shareholders are not personally liable for any debts or liabilities incurred by the company.
- Access to Capital: A Public Limited Company Registration In Chennai can access capital from the public by issuing shares and debentures. This helps the company to raise funds for expansion and growth.
- Professional Management: A public limited company in Chennai is managed by professional directors who are appointed by the shareholders. This ensures that the company is managed in a professional manner and is able to make sound decisions.
- Transferability of Shares: The shares of a Public Limited Company Registration In Chennai are freely transferable, which makes it easier for shareholders to exit the company when they wish to do so.
Documents needed for Public Limited Company Registration
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Certificate of Incorporation
- PAN Card
- TAN Card
- Digital Signature Certificate (DSC)
- Bank Account Details
- List of Directors and their DIN numbers
- Address Proof of Registered Office
- Consent to Act as Director from each Director
- Form DIR-12 for Appointment of Directors
- Form INC-22 for Notice of Registered Office
- Form INC-23 for Consent to Act as Director
Documents needed for Directors and Shareholders in Public Company Registration
- Memorandum of Association (MOA): This document outlines the purpose of the company, its registered office address, the amount of authorized capital, and the names of the initial directors and shareholders.
- Articles of Association (AOA): This document outlines the rules and regulations that govern the internal management of the company.
- Certificate of Incorporation: This document is issued by the Registrar of Companies and confirms that the company has been legally registered.
- Director Identification Number (DIN): Each director must obtain a DIN from the Ministry of Corporate Affairs in order to be legally recognized as a director of a public company.
- Shareholder Identification Number (SIN): Each shareholder must obtain a SIN from the Ministry of Corporate Affairs in order to be legally recognized as a shareholder of a public company.
- Permanent Account Number (PAN): The PAN is a unique 10-digit alphanumeric code issued by the Income Tax Department to all taxpayers in India. It is mandatory for all directors and shareholders to have a PAN card in order to register a public company.
Checklist needed for Public Limited Company Registration In Chennai
- Acquire Digital Signature Certificates (DSC) for the proposed directors.
- Secure Director Identification Numbers (DIN) for the proposed directors.
- Get Name Approval from the Ministry of Corporate Affairs (MCA).
- Draft Memorandums of Association (MOA) and Articles of Association (AOA).
- Submit Incorporation Forms to the Registrar of Companies (ROC).
- Receive Certificates of Incorporation from the ROC.
- Obtain PAN and TAN for the company.
- Open a Bank Account in the name of the company.
- Apply for GST Registration, if applicable.
Process for Registering a Public Limited Company in Chennai
- In order to register a Public Limited Company Registration In Chennai, it is necessary to comply with the legal requirements of minimum paid-up share capital and the number of Directors in the Company.
- The Digital Signature Certificate and the Director Identification Number of the proposed directors must be obtained. The Directors must be individuals and not entities like the LLP or the financial institutions.
- The registered office of the company must be registered with the Registrar of Companies, and the registration fee is dependent on the authorized capital of the Company.
- The name of the company must be approved by the ROC and end with the word Limited. The MOA and AOA documents must be prepared and submitted online for verification.
- Once verified, the ROC will register the company and issue an Incorporation certificate along with the Corporate Identification Number.
- A Certificate of Commencement of business must be applied for within 190 days after receiving the COI, and all subscribers must have paid their subscription money.
Public Limited Company Registration Procedure
The process for establishing a Public Limited Company involves the following steps:
- Select a Unique Name: The first step in registering a Public Limited Company is to choose a unique name for the company. This name must be approved by the Registrar of Companies and must not be similar to any existing company.
- Obtain a Digital Signature Certificate (DSC): The promoters of the company must acquire a Digital Signature Certificate (DSC) from a Certifying Authority.
- Obtain a Director Identification Number (DIN): The promoters of the company must obtain a Director Identification Number (DIN) from the Ministry of Corporate Affairs.
- Submit Incorporation Documents: The promoters of the company must submit the incorporation documents to the Registrar of Companies. These documents include a Memorandum of Association, Articles of Association, and other forms prescribed by the Registrar.
- Receive Certificate of Incorporation: Once the incorporation documents are approved, the Registrar will issue a Certificate of Incorporation, which is proof that the company has been legally registered.
- Open Bank Account: The promoters must open a bank account in the name of the company and deposit the minimum capital required for registration.
- Apply for PAN and TAN: The promoters must apply for Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) from the Income Tax Department.
Our Support
Intellecto Filings provides comprehensive services for registering a public company in Chennai. Our team of experts will assist you in obtaining DSCs, applying for DINs, drafting incorporation documents, filing incorporation documents with the MCA, and obtaining a Certificate of Incorporation. We also provide post-incorporation services such as opening a bank account, obtaining PAN and TAN numbers, etc. Contact us today for more information about our services!
FAQ
How many days does it take to complete the registration process for a Public Limited Company Registration In Chennai?
It typically takes between 7 to 10 days to complete the registration process for a public Limited Company.
What is the minimum capital required for a public limited company?
A minimum capital of Rs. 5, 00,000 is required to be deposited by the directors or shareholders of a public limited company in order for it to operate. This amount will be divided among the shareholders in accordance with their predetermined share percentage and deposited into the company’s bank account.
What is the cogency of the Public Limited Company Registration?
The registration of a Public Limited Company is valid and effective for the duration of the company’s existence.
How long is the incorporation of a Public limited company valid?
A public limited company is incorporated indefinitely, unless it is dissolved or wound up.
Can non-resident Indians (NRIs) or foreign nationals be directors in a public limited company?
Yes, non-resident Indians (NRIs) or foreign nationals can be directors in a public limited company. However, they must obtain the necessary approvals from the Reserve Bank of India (RBI) and the Ministry of Corporate Affairs (MCA). Additionally, they must also comply with the Companies Act, 2013 and the Foreign Exchange Management Act (FEMA).