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Public Company

Public Company Registration

Public Company is a creation of law and is incorporated as per the law and provisions laid down in The Companies act 2013, and the rules made thereunder. Seven or more persons are needed as promoters of a public limited company, out of which at least three persons should be the first directors of the company. There is no maximum limit on the numbers of shareholders of a public limited company, while the maximum number of directors as prescribed is fifteen, which can be further increased.

The public Limited companies are suitable for large scale of business where the capital requirement is very high, and the company is willing to obtain money from the public at large. We shall be extending our support at the initial consultation to draft the objects and name selection for the company, to file the necessary application for incorporation and regular follow-up with the ROC until the certificate of incorporation is issued.

Minimum Requirements to Register Public Limited Company

Minimum Seven Persons

A company can be registered in India, by at least seven persons, who shall act as the shareholders of the company. There is no limit on the number of shareholders and the minimum director required is 3 which can’t exceed 15 directors.

Resident Director

One director of the company must be resident in India. A person is said to be a resident if he or she stays in India for at least 182 days during the preceding financial year irrespective of their citizenship. The days of stay can be in phases. 

Capital Requirement

Invest as per the requirement of your business, and there is no minimum capital requirement as such to be maintained in the company. However, the government fee on company registration is calculated on the capital

Unique Name of Company

The proposed name of the company should not resemble any existing company or LLP. Further, you must check the trademark registry to ensure that the name does not match any registered or applied trademark in India.

The Stepwise Process of Limited Company Registration

Check Company / LLP Name Availability

Use the Taxmate Check Company Name Availability tool above to verify the availability of your company name.

The Check Company Name Availability tool can be used to evaluate company name availability. However, the authority for accepting or rejecting a company name application only rests with the Ministry of Corporate Affairs (MCA.)

A proposed company name must be acceptable as per the Companies Act, 2013. Further, the proposed company name must not be identical or similar to an existing company or LLP or trademark.

Choosing a memorable and acceptable name is one of the first step in registering a company in India.

An easy to remember name can make the company a household brand. Whereas an obscure name can doom it to failure or obscurity.

Hence, it is important to choose a name for your company keeping in mind various factors and the company naming guidelines as per Companies Act, 2013.

Restriction on the Naming a Company

What words cannot be used while naming your business?

The following are some of the important guidelines to keep in mind while choosing a company name:

Identical or Similar

Proposed company name cannot be identical or similar to an existing company or LLP or trademark. Plural version, joining or separating words, spacing, different tense, different spelling, addition of place, addition of titles and other minor difference would not make a name unique.

Trademark

Proposed company name cannot infringe on a registered trademark or an application for registration of a trademark, unless the consent of the registered trademark owner or trademark applicant is submitted along with the name approval application.

Constitution

Proposed company names cannot include words indicative of a separate type of business constitution or legal person or any connotation. For example, words like co-operative, sehkari, trust, partnership, proprietor, society, HUF, firm, Inc., GmbH, SA, PTE, Sdn, AG cannot be a part of company name.

Patronage

Proposed company name cannot imply association or connection with or patronage of a national hero or any person held in high esteem or important personages who occupied or occupying important positions in Government. Proposed name cannot imply association with Indian or Foreign Government.

Regulatory Approval

Proposed company names that include words like insurance, bank, stock exchange, venture capital, asset management, mutual fund or other financial activity may require approval from Regulatory Bodies like RBI, SEBI, IRDAI, etc.,

Authorised Capital

Proposed company names that include words like international, globe, universal, continental, Asiatic, Asia, industries, udyog, Hindustan, india, bharat, enterprises, products, business and others may require the company to have a minimum authorised capital of Rs.5 lakhs and above.

 

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