Public Limited Company in Bangalore

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Overview

A company whose shares are traded on a stock exchange and can be purchased and traded by anyone. It is also called a publicly held company. As the name suggests, a public limited company is a company that offers company shares to the general public. The Company’s Act 2013 also defines a public limited company as one that
has limited liability and offers company shares to the public. Anyone can acquire the stocks of such a company either through stock-market trading or via IPOs ( Initial Public Offerings).

Advantages

Quick Share Transfer :
Shareholders of a public limited company can transfer their shares with great ease. All they need to do is file the share transfer form and hand over the share certificate to the buyer. The process of transferring a share to another
business structure is very tedious.
Raise Capital :
The advantage of the public limited structure is that you can leverage it to raise capital from the general public through shares. This would, however, require listing on a stock exchange. All public limited companies can issue fixed deposits, debentures, convertible debentures to the general public.
Greater Credibility:
Public limited companies need to disclose their audited statement of accounts, inform the regulatory bodies of any structural change, and hold annual general body meetings for all shareholders. These compliance procedures bring a great
deal of credibility to the organisation.

Process

1. Calling of Board Meeting: Issue notices according to the provisions of section 173(3) of the Companies Act, 2013, for converting a meeting of the Board of Directors. The main objective of this Board meeting would be: Pass a board resolution to get in-principal permission of directors for the conversion of private company to a public company by altering the AOA(articles of association).

2. Issue of EGM Notice: Issue Notice of the Extraordinary General Meeting (EGM) to all members and affiliates, directors and the auditors of the company following the requirements of Section 101 of the Companies Act, 2013.

3. The holding of EGM meeting: It holds the Extra-ordinary General meeting on the due date, and transfers the required Special Resolution, to get the shareholder’s support for conversion of private company into a public company along with alteration in articles of the agreement, under section 14 for such conversion.

4. Registrar of Company(ROC) filing: For alteration in the Article of Association for the conversion of a public limited company under section 14, few E-forms will be filed and registered with the concerned Registrar of Companies at different stages as per the details mentioned ; E-form- For filing special resolution with ROC, passed for conversion of private company into a public company.

Documents Required

1. A copy of the directors’ PAN card.
2. Passport size photographs of directors.
3. Copy of Aadhar card or voter ID.
4. Copy of the rental agreement.
5. Electricity or water bill (Business place).
6. The copy of property papers, if it is owned.
7. Landlord NOC (No Objection Certificate) for providing the format.

Faqs

Faq 1

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Faq 2