Public Limited Company (PLC)
PLC business mode is considered to be the most opted corporate entity form for medium and large sized businesses that prefer to raise equity capital from the public.
Digital Filings can help you in…:
Getting Director Identification Number (DIN) and Digital Signature Certificates (DSC);
Drafting constitution (MoA and AoA) for the business;
Submitting the relevant applications to the Registrar of Companies (ROC);
Filling and submitting the required Forms, DIR- 12, INC- 22, and INC- 7;
Obtaining the Certificate of Commencement of business as well as Incorporation;
Applying and Arranging for PAN and TAN as well as Bank A/c Opening.
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Understanding PLC Model
A PLC is the most popular form of establishing a business, as it is easy to set-up, manage, and control. Essentially, a PLC is a limited liability company (LLC) that is incorporated and strictly governed by the well structured framework of laws, rules, and regulations defined under The Indian Companies Act of 1956. A minimum of three directors are required to establish a PLC, while one of the director must be resident of India. Moreover, a PLC has a separate legal entity feature and has a voluntary association of members, who enjoy limited liability..
In order to register a PLC there need to be a minimum of 7 members, however, there is no defined upper limit for the members in this mode. PLC collects its capital primarily by selling its shares to the general public who are called members / shareholders. The fund thus collected, by sale of shares, is called share capital. Also, the liability of the members is limited to the extent of the face value of the share that they own. The shareholders can even participate in the working of the PLC.
Key-Advantages of a PLC
Distinct Entity
A PLC has a separate legal entity and a juristic person established under the Companies Act. Thus, a PLC enjoys wider legal capacity and it can own property or acquire debt. The members (shareholders / directors) have limited liability and are not liable to the creditors for any such business debts.
Easy to Transfer
Shareholders of a PLC can easily transfer their shares to another shareholder, simply by filling as well as signing a share transfer form and handing over the share certificate to the buyer.
Perpetual Succession
PLC has unending existence that it continues to be operational until it is legally dissolved by the Companies Act. Also, since PLC has a distinct entity, it is not affected by the death or departure of any members and continues to exist in spite of any change in its shareholders’ structure.
Property Ownership
PLC is a juristic person thus it can acquire, own, or sell any property in its own name. Shareholders do not have any right to claim on the PLC’s property till the time it is in existence.
Easy Debts
PLC is the most prestigious form of business and it ensures a better borrowing capacity, as banking and financial institutions prefer to invest in a PLC model rather on any other business form. A PLC can even issue secured and unsecured debentures, while can also procure funds from public.
Required Documentation Chart
Indian Resident
- Self Attested and Scanned copy of PAN Card or Passport
- Self Attested and Scanned copy of Voter’s ID / Passport / Driver’s License
- Self Attested and Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)*
- Specimen signature (blank document with signature)
For the Registered Office
- Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)*
- Scanned copy of Notarized Rental Agreement in English
- Scanned copy of No-Objection Certificate from the property owner
- Scanned copy of Sale Deed/Property Deed in English (in case of owned property)
*Valid and Recent (less than 2-months)
Note: Registered office can be a commercial building, rented space, or even a residence, while in case of rented space, the no object certificate (NOC) from the landlord is required to be obtained)
Non-Resident Indian / Foreign Resident
- Notarized and Scanned copy of Passport**
- Notarized and Scanned copy of Passport / Driver’s License**
- Notarized and Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)*
- Specimen signature (blank document with signature)
**Documents to be apostilled if the director is from a Commonwealth country. For the Registered Office
- Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)*
- Scanned copy of Notarized Rental Agreement in English
- Scanned copy of No-Objection Certificate from the property owner
- Scanned copy of Sale Deed/Property Deed in English (in case of owned property)
* Valid and Recent (less than 2-months)
Note: Registered office can be a commercial building, rented space, or even a residence, while in case of rented space, the no object certificate (NOC) from the landlord is required to be obtained)
Connect to Our Experts Today!
Seasoned team of our vendor partners can effectively get your PLC registered and timely make it operational…
…so that you can manage and control your business, focusing on your mission critical tasks and proudly watching it Grow!
What People Frequently Ask…
How much one can invest to form a PLC?
How many members can there be in a PLC model?
What are the regulatory requirements to be followed by PLC?
Is it mandatory to select a unique name for PLC?
What are the requirements to be a Director in PLC?
A Director needs to be over 18 years of age and must be a natural person.
Are there any limitations to the citizenship to be a director in PLC?
There are no limitations in terms of citizenship or residency. Even foreign nationals can, therefore, be the Directors of an Indian PLC. An NRI or Foreign National can be a Director in a PLC after obtaining Director Identification Number, however, at-least one Director be a Resident Indian.
What is authorized capital and authorized capital fee?
Authorized capital of a Company is the amount of shares a company can issue to it shareholders. Companies have to pay the Government an authorized capital fee (a minimum of INR 5Lacs) to issue shares in a Company.
Are Directors required to be physically present to incorporate a PLC?
Pocket-Friendly Options
Basic
Package Include:
PLC registration with 8 DSC, 3 DIN, and 1 RUN Name Approval; INR 5 Lac authorized capital; PAN and TAN Request Submission. (Above price includes all taxes and relevant government fees.)
Standard
Package Include:
- PLC registration with 8 DSC, 3 DIN, and 1 RUN Name Approval; INR 10 Lac authorized capital; PAN and TAN Request Submission; GST Registration. (Above price includes all taxes and relevant government fees.)
Premium
Package Include:
- PLC registration with 8 DSC, 3 DIN, and 1 RUN Name Approval; INR 10 Lac authorized capital; PAN and TAN Request Submission; GST Registration and Trademark Registration. (Above price includes all taxes and relevant government fees.)
How we Do It…
It usually takes about 15 -20 days to complete the registration of a PLC, however it depends on collating the relevant registration documents and the time taken by the registrar to process the request.
Let’s Organize First
The most vital step to get a PLC registered is to apply and obtain the DSCs and the DINs for directors so as to submit the PLC registration documents (including MoA and AoA) with the RoC. Digital Fillings will help you arrange these relevant information in 5 – 7 working days.
Name it Uniquely
After applying for DSC, Digital Fillings will assist you in picking up the name for your PLC. We can suggest you with minimum one and maximum 6 names to be submitted for getting the MCA’s approval, this may take 5 -7 business days, subject to naming guidelines and time taken for processing. Post this the Certificate of Incorporation will be approved.
Let’s Close it
Finally, Digital Filings will assist you submitting all the relevant registration documents to the MCA along with an application for registration. MCA will usually approve the application for incorporation in 5-7 business days, subject to their processing time.
We Love to do More
On receiving the incorporation certificate for the PLC, Digital Filings will help you apply for PAN and TAN with the NSDL that takes around three weeks to get those issued.
Our Patrons’ Speak
“Heartfelt thank you for proficiently taking care of all the registration related tasks and letting me focus on my business operation without any stress.”
– Srinivasan
“Highly impressed by the personal attention of the professional staff in getting the GST registration done and arranging the MSME certification for my business.”
– Hari
“Thank you Digital Filings for all your professional and timely support in getting my company registered.”
– Sachin Gupta
“I never thought it would be so easy to get my proprietorship firm registered. Thank you team Digital Filings. I will refer your proficient services to my friends too.”
– Pawan
“Thank you for simplifying the so complicated filing and documentation and getting my business smoothly registered.”
– Amit
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