To establish a Public Limited Company, certain documents need to be prepared and submitted. These include:

• Memorandum of Association (MoA): The MoA outlines the company’s objectives, scope of operations, and the rights and duties of its shareholders.
• Articles of Association (AoA): The AoA defines the internal regulations, governance, and management structure of the Public Limited Company.
• Director Identification Number (DIN): All proposed directors of the Public Limited Company must obtain a unique DIN from the Ministry of Corporate Affairs (MCA).
• Digital Signature Certificate (DSC): Digital signatures are required for electronically signing various documents throughout the registration process.
• Address Proof: The Public Limited Company must provide address proof documents such as utility bills or rental agreements for the registered office address.

The process of forming a Public Limited Company involves the following steps:

• Minimum Members: Ensure the presence of at least seven individuals or entities to form a Public Limited Company. These members can be individuals or corporate bodies.
• Name Approval: Select a unique name for the Public Limited Company and apply for its approval with the Registrar of Companies (ROC). The name should comply with the naming guidelines prescribed by the ROC.
• Incorporation Documents: Prepare the necessary incorporation documents, including the MoA, AoA, and other prescribed forms, as per the requirements of the Companies Act, 2013.
• Filing with ROC: Submit the incorporation documents to the ROC along with the requisite fees.
• Capital Requirement: Ensure that the Public Limited Company has a minimum authorized share capital as per the prescribed requirements.
• Appointment of Directors: Appoint directors for the Public Limited Company, ensuring compliance with the maximum number of directors allowed and the requirements for independent directors.
• Compliance: Comply with post-incorporation requirements, such as conducting annual general meetings, filing annual financial statements, maintaining proper accounting records, and adhering to tax and regulatory obligations.

To register a Public Limited Company, the following eligibility criteria must be met:

• The Public Limited Company must have a minimum of seven members, which can be individuals or corporate bodies.
• The company should comply with the capital requirements specified by the Companies Act, 2013.

• Access to Capital: Public Limited Companies can raise funds by issuing shares to the general public, facilitating capital expansion and growth opportunities.
• Transferability of Ownership: The shares of a Public Limited Company are freely transferable, allowing shareholders to buy, sell, or transfer their ownership interests in the company.
• Enhanced Credibility: Public Limited Companies enjoy a higher level of credibility and trust among customers, suppliers, and financial institutions due to their transparent operations and compliance with regulatory requirements.
• Limited Liability: Shareholders of a Public Limited Company have limited liability, protecting theirpersonal assets and minimizing risk. They are not personally liable for the company’s debts and obligations.
• Growth and Expansion Potential: Public Limited Companies have the potential for rapid growth and expansion. They can attract large investments, enter into mergers and acquisitions, and explore new business opportunities.

• Compliance Requirements: Public Limited Companies have more stringent compliance obligations compared to other business structures. They need to adhere to extensive reporting and disclosure requirements, conduct regular board meetings, and comply with various legal and regulatory obligations.
• Complex Governance Structure: Public Limited Companies require an elaborate governance structure to ensure effective decision-making, consensus-building, and shareholder engagement. Maintaining transparency and managing diverse interests can be challenging.
• Disclosure of Information: Public Limited Companies are required to disclose certain information to regulatory authorities and the public. This includes filing financial statements, maintaining registers of members and directors, and complying with disclosure requirements.
• Public Scrutiny: Public Limited Companies operate under public scrutiny and may face criticism or scrutiny from shareholders, media, and regulatory bodies. They need to manage public perception and maintain a positive corporate image.
• Cost and Time-Consuming Processes: The formation and maintenance of a Public Limited Company can be costly and time-consuming due to various legal and regulatory requirements. Expenses associated with compliance, audits, and listing fees can be significant.