What we do
Our work in this practice group is structured around the records, deadlines, and decisions involved:
- Separate legal identity for the business.
- Limited liability protection subject to applicable law.
- Suitable structure for a broader shareholder base.
- Potential framework for raising capital from eligible investors, subject to applicable securities laws.
- Greater suitability for businesses planning significant expansion.
- Assistance with MCA incorporation procedures and documentation.
- Guidance on post-incorporation corporate governance and statutory compliance.
How the engagement works
Public company incorporation is governed primarily by the Companies Act, 2013, applicable rules, notifications, and procedures prescribed by the Ministry of Corporate Affairs. Section 3 of the Companies Act provides for formation of a public company by seven or more persons subscribing to the memorandum and complying with the applicable registration requirements. Public companies are also subject to requirements relating to directors, share capital, management, statutory records, meetings, financial reporting, annual filings, and other corporate compliances. Additional requirements may apply where securities are offered to the public or the company becomes listed.
Scenario 1: A group of entrepreneurs wants to establish a corporate entity with a broader ownership structure for a growing business.
Scenario 2: A business expects to raise significant capital from multiple investors and wants to evaluate a public company structure.
Scenario 3: An established private company is considering conversion into a public company as part of its long-term expansion strategy.
Scenario 4: A large family-owned or professionally managed business wants a formal corporate structure capable of accommodating a wider shareholder base.
Scenario 5: Promoters want professional assistance with public company incorporation, MCA filings, share capital structure, and initial statutory compliance.
Business Structure & Eligibility Review
We understand the proposed business, promoters, shareholders, directors, capital structure, registered office, proposed activities, and incorporation objectives.
Name Selection & Reservation
We assist with selecting an appropriate company name and completing the applicable name reservation process with the MCA.
DSC & DIN Support
We assist with obtaining Digital Signature Certificates and Director Identification Numbers required for the proposed directors and incorporation process.
Incorporation Documentation
We prepare and coordinate the Memorandum of Association, Articles of Association, declarations, consent documents, shareholder and director details, registered office documents, and other required incorporation records.
MCA Incorporation Filing
We prepare and submit the applicable incorporation forms and supporting documents through the MCA portal and assist with clarification or resubmission requirements where applicable.
Post-Incorporation Compliance
We provide guidance on share capital, statutory registers, board and general meeting requirements, PAN and TAN, bank account setup, commencement-related filings, annual filings, and other applicable corporate compliances.
Step-by-step process
Step 1: Consultation & Corporate Structure
We understand the proposed business, promoters, shareholders, directors, capital structure, registered office, and long-term objectives for establishing the public company.
Step 2: Name & Documentation
We assist with company name selection and collect KYC, registered office, director, shareholder, capital, and other documents required for incorporation.
Step 3: Incorporation Documentation
We prepare the constitutional documents, declarations, consent forms, incorporation forms, and other required records based on the proposed company structure.
Step 4: MCA Filing & Incorporation
We submit the incorporation application through the MCA portal and assist with clarification or resubmission requirements until the company is incorporated.
Step 5: Post-Incorporation Setup
After incorporation, we provide guidance on share capital, statutory registers, bank account opening, board and shareholder requirements, commencement-related filings, and ongoing corporate compliance.
Key deliverables & outputs
General questions
01What is a Public Limited Company?
A Public Limited Company is a company incorporated under the Companies Act, 2013 that is not a private company and is subject to the statutory requirements applicable to public companies.
02How many members are required to form a Public Limited Company?
Under the Companies Act, 2013, a public company can be formed by seven or more persons subscribing to the memorandum and complying with the applicable incorporation requirements.
03How many directors are required for a Public Limited Company?
A public company is generally required to have at least three directors, subject to the Companies Act and applicable requirements. Additional requirements may apply depending on the company’s size, listing status, and other circumstances.
04What documents are required for Public Limited Company registration?
Documents may include PAN and identity proof, address proof, photographs, registered office proof, utility bills, owner consent where applicable, director and shareholder details, declarations, and other documents prescribed by the MCA.
05What are the benefits of a Public Limited Company?
A public company can provide a separate legal identity, limited liability subject to applicable law, a broader shareholder structure, and a corporate framework that may support significant business expansion and capital raising subject to applicable regulations.
06Can a Public Limited Company raise money from the public?
A public company may be able to raise capital from the public subject to the Companies Act, securities laws, SEBI requirements where applicable, stock exchange requirements for listing, and other applicable regulatory conditions. Incorporation as a public company alone does not automatically permit a public securities offering.
07Does a Public Limited Company have higher compliance requirements?
Yes. Public companies generally have more extensive corporate governance, disclosure, board, meeting, statutory filing, and reporting requirements than private companies. Additional requirements may apply if the company is listed or makes a public securities offering.