Public Company

Corporations whose ownership is amongst general public shareholders is known as the public company

a company held and run by the public is know as public limited companies. These are the companies whose ownership is organized by the shareholder of the company.

Some of the important characteristics of the public limited companies are

1. Member– for starting a public limited company minimum member would be required is 7 and maximum no. would be according to the law of companies act,2013
2. Limited Liability– The company will face limited losses under any worst circumstances then its shareholders are liable to sell their assets for payment.
3. Index Of Member– Public limited companies required to maintain the index of the shareholders.
4. Number Of Directors– to make the public limited company into existence it required only 3 directors,
5. Paid-Up-capital– as public limited companies required a minimum up to 5 lakhs or upper amount for public limited companies.

Process Of Incorporation of Public Limited Company

• Making an application for reservation of name
• obtaining a digital signature
• application from Spice(INC-32) along with spice (INC-33 and 34) for the incorporation of the company
• making of E-Memorandum
• E-Articles
• Business Commencement

these are some process of incorporation.