A Public Limited Company is a limited company is basically formed with a minimum of 7 members and 3 Directors and also there is no limitation or constraints for the greatest or the maximum number of members in a Public Company. The names of the company have to end and should come to the last part with the words ‘Limited’. A public limited company is an intentional and deliberate organization of members which has a separate legal disappearance and continuation not together but from its members who compile it.
Subject matter to the observance of the Companies Act 2013, a company can borrow shares to the public and can also agree to deposits it from the public and the reason for that its shares are easily convertible without the prior consent of the other shareholders.
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A public limited company is completely self-determining officially permitted person and its continuation are not affected by the demise, passing away, death, giving up work, retirement or insolvency and liquidation of any of its shareholders. These companies can encourage and invite capital and deposits from the public. These Companies preserve to be listed or unlisted.
Who Are appropriate for the Public Limited Company Registration
Minimum Seven People: Minimum of seven people are mandatory to commence the public limited company in India and these companies shall have minimum 3 directors and the same seven people can be converted into shareholder and director of the company.
One occupant Director: Along with the director, one person must be inhabitant and local Indian.
No Minimum Capital: Capital and resources of the business basically depends on the need of the business, commerce, and constitutional no minimum capital is mandatory or compulsory to start the public limited company and the minimum five lakh Rupees is mandatory or required for the authorized and subscribed share capital of the public limited company.
Exclusive given name: The name of the public limited company should be only one of its kinds and must not be parallel and related to the any an active corporation or business name or trademark.