Name of a Public Company shall be mandatorily end with “LIMITED” For exp. ABC Retails Limited.
Minimum 3 Directors are required for Incorporation of Public Limited Company. Maximum 15 directors can be appointed; however, this number can be increased by complying with the respective provisions of The Companies Act, 2013.
Initially, minimum 7 members are required to incorporate a Public Company. Further number of members can be unlimited.
No capital requirement is mentioned in the Act (The Companies Act, 2013) for incorporation, however SEBI Regulations are required to be fulfilled for listing its securities on the stock exchange, where required
Liability of shareholders is limited only up to the amount of shares subscribed by them. They are not liable for the debts of the company in case company are unable to pay its liabilities.
The shares of Public limited Company can be freely transferred and traded in the open market.
Ministry of Corporate Affairs, Registrar of Companies. If Listed, then, Securities and Exchange Board of India would be the regulatory authority.
A PLC has to mandatorily present its financial statement and position publicly to maintain transparency. The financial books and records of the firm are open to public, allowing everyone to see how much profit or loss the firm is making.
In order to incorporate A Public Limited Company, one has to follow the procedure given by The Ministry of Corporate Affairs in accordance with The Companies Act, 2013.
Huge Capital Infusement: Most important benefit for registering a Public limited Company is its ability to offer its shares to General Public for subscription. This also means widened shareholder base. Since anyone is able to invest their money in public Company the capital raised is generally higher than a private limited company.
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