Question 1

What are the minimum requirements to incorporate a Public Limited Company in India?

Accepted Answer

Under the Companies Act, 2013, you need a minimum of 7 Shareholders (members), 3 Directors (at least one resident Indian), a unique company name ending in 'Limited', and a registered office in India. There is no minimum statutory paid-up capital requirement.

Question 2

Why should an enterprise incorporate as a Public Limited Company?

Accepted Answer

A Public Limited structure offers unrestricted transferability of shares, the legal capability to raise equity capital from the public through initial public offerings (IPO) or rights issues, high borrowing limits from commercial banks, and superior corporate credibility for large-scale operations.

Question 3

How long does it take to register a Public Limited Company with TaxQue?

Accepted Answer

The process takes approximately 10 to 14 working days. This involves obtaining Class 3 DSCs for all 3 directors, MCA name approval (SPICe+ Part A), comprehensive drafting of customized Articles of Association (AOA) with share transfer rules, CRC scrutiny, and Certificate of Incorporation issuance.

Question 4

Who will manage our Public Limited incorporation at TaxQue?

Accepted Answer

Your incorporation is led by a Senior Company Secretary and Corporate Governance Specialist, supported by a practicing Chartered Accountant. We ensure MOA objects and AOA governance clauses are structured to facilitate future institutional capital and dematerialization.

Question 5

Is dematerialization (Demat) of shares mandatory for unlisted Public Companies?

Accepted Answer

Yes. Under Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, every unlisted public company must issue and hold all its securities exclusively in dematerialized form via NSDL or CDSL depositories. TaxQue assists with ISIN generation and RTA connectivity.

Question 6

What documents are required from the 7 shareholders and 3 directors?

Accepted Answer

Each promoter must provide: Self-attested PAN Card, Identity Proof (Passport, Voter ID, or DL), latest Bank Statement or Utility Bill (< 2 months old), and passport-size photographs. Registered office address proof with landlord NOC is also required.

Question 7

What is Form INC-20A (Commencement of Business) for Public Companies?

Accepted Answer

A newly incorporated Public Limited company cannot commence commercial operations or exercise borrowing powers until it files Form INC-20A within 180 days of incorporation, certifying that all 7 initial subscribers have paid their share values.

Question 8

Can an existing Private Limited Company convert into a Public Limited Company?

Accepted Answer

Yes. Under Section 14 of the Companies Act, a Private Limited Company can convert to a Public Limited Company by increasing its members to 7, directors to 3, passing a special resolution in an EGM, altering MOA/AOA, and filing Form MGT-14 and Form INC-27 with ROC. TaxQue manages complete conversion.

Question 9

What statutory registers and committees are mandatory for Public Companies?

Accepted Answer

A Public Limited company must maintain statutory registers (MGT-1, MGT-2, MBP-2, MBP-4), appoint a whole-time Company Secretary if paid-up capital exceeds ₹10 Crores, and constitute an Audit Committee and Nomination & Remuneration Committee if capital exceeds ₹10 Crores (or turnover > ₹100 Crores).

Question 10

Can foreign nationals and overseas entities hold shares in an Indian Public Limited Company?

Accepted Answer

Yes. Foreign investors and multinational corporations can hold equity under the Automatic FDI Route for eligible sectors, subject to RBI FEMA reporting (Form FC-GPR) within 30 days of share allotment. TaxQue manages cross-border FDI filings.

Question 11

What are the statutory board meeting and AGM requirements?

Accepted Answer

A Public Limited Company must hold its first board meeting within 30 days of incorporation, at least 4 board meetings annually (gap not exceeding 120 days), and an Annual General Meeting (AGM) within 6 months of the close of the financial year.

Question 12

What if the MCA officer issues a query on the proposed Public Company name?

Accepted Answer

If the Registrar requests clarification regarding regulatory approvals or business activities, our CS team drafts and submits a formal legal rejoinder with supporting board resolutions within 48 hours at zero extra charge.

Question 13

How are directors appointed and DIN allotted in Public Companies?

Accepted Answer

Up to 3 Director Identification Numbers (DINs) are allotted directly within the integrated SPICe+ incorporation form. Additional directors can be appointed post-incorporation through Board Meetings and Form DIR-12.

Question 14

What is the fee for Public Limited Company registration with TaxQue?

Accepted Answer

We offer transparent fixed pricing covering Name Approval, 3 Class 3 DSCs, customized MOA/AOA drafting, PAN/TAN, DINs, MCA statutory fees, and stamp duties, with zero hidden costs.

Question 15

What post-incorporation compliance support does TaxQue provide?

Accepted Answer

We assist with first board meeting documentation, share certificate issuance (Form SH-1), statutory register setup, statutory auditor appointment (ADT-1), and ISIN demat coordination.

Question 16

Can a Public Limited Company issue shares to the public immediately?

Accepted Answer

An unlisted public company can issue shares via Private Placement (Section 42) or Rights Issue (Section 62). To invite subscriptions from the public at large, the company must prepare a detailed Prospectus, obtain SEBI approval, and list on BSE/NSE.

Feature & Deliverable Matrix	Basic	Standard★ Most Popular	Premium
Name Availability Verification & Portal Reservation Assistance	✓	✓	✓
Drafting of MOA, AOA / Deed & Statutory Declarations	✓	✓	✓
Official Government Portal Filing & Document Submission	✓	✓	✓
Certificate of Incorporation / Registration Delivery	✓	✓	✓
Entity PAN & TAN Allocation Coordination	✓	✓	✓
Assigned Company Secretary (CS) & Corporate Legal Advisor	—	✓	✓
Class-3 Digital Signature Certificates (DSC) & Director DINs	—	✓	✓
Assisted Corporate Bank Current Account Opening Setup	—	✓	✓
Mandatory EPFO, ESIC & State Tax Registrations Included	—	✓	✓
1st Board Meeting Resolutions & INC-20A Commencement Filing	—	—	✓
Custom Shareholder & Co-Founder Agreement Drafting (SHA/SSA)	—	—	✓
Free Comprehensive Trademark Brand Search & Class Verification	—	—	✓
Dedicated Corporate Advisory Desk for Annual ROC Compliances	—	—	✓

Stakeholder / Element	Mandatory Documentation	Verification Guidelines
3 Minimum Directors	PAN Card, Aadhaar Card, Passport / Voter ID, Bank Statement (< 2 months), Passport Photo	Self-attested color copies + Class 3 DSC
7 Minimum Shareholders	PAN Card, Aadhaar Card, Address Proof of all 7 founding subscribers	Self-attested KYC documents
Registered Office Proof	Electricity Bill / Municipal Tax Receipt (< 2 months) + Rent Agreement + Landlord NOC	Verifiable commercial address proof
Charter Drafts	Draft Memorandum of Association (MOA) and Articles of Association (AOA)	Drafted as per Table A/B of Companies Act

Compliance Event / Form	Statutory Deadline	Statutory Penalty for Default
INC-20A (Commencement Filing)	Within 180 days of incorporation	₹50,000 on company + ₹1,000/day on directors up to ₹1,00,000
Form ADT-1 (Auditor Appointment)	Within 15 days of 1st AGM	MCA late fee up to 18x normal filing fees
AOC-4 & MGT-7 (Annual ROC Returns)	Within 30 / 60 days of Annual General Meeting	₹100 per day continuing penalty per form with no upper cap
MGT-14 (Board / Special Resolutions)	Within 30 days of passing resolution	₹10,000 + ₹100 per day continuing penalty under Section 117

Statutory Element	Threshold Requirement	Legal Reference
Minimum Directors / Shareholders	Min 3 Directors, Min 7 Shareholders (No upper limit)	Section 149 & Section 3 Companies Act
Independent Directors Mandate	Mandatory for public companies with paid-up capital >= ₹10 Cr or turnover >= ₹100 Cr	Rule 4 Companies Rules 2014
Audit Committee Mandate	Mandatory for public companies with paid-up capital >= ₹10 Cr	Section 177 Companies Act 2013
Secretarial Audit (Form MR-3)	Mandatory for public companies with paid-up capital >= ₹50 Cr or turnover >= ₹250 Cr	Section 204 Companies Act 2013

Parameter	TaxQue Corporate Legal Desk	Generic Automated Websites	Local Solo Agent
Public AOA Legal Drafting	Customized board voting, transfer, and dividend clauses	Generic private company templates (causes rejection)	Manual outdated drafts
Multi-Stakeholder Coordination	Dedicated team handling 3 directors & 7 shareholders	Struggles with large founding groups	Slow manual paperwork
Statutory Committee Advisory	Guidance on Audit Committee & Nomination Committees	Zero corporate governance advisory	Unfamiliar with public company governance

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Public Limited Registration

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Public Limited Company Registration & Legal Incorporation Services

What is Public Limited Registration?

Higher Governance & Audit Mandate

How to Get Started

RUN Name Reservation & Director KYC

SPICe+ Part B & Public Charter Drafting

COI Delivery & Commencement of Business

Documents Required for Public Limited Registration

Statutory Deadlines & Compliance Matrix for Public Companies

Public Limited Company Statutory Thresholds

Why Choose Public Limited Registration

Comprehensive Capital & Equity Structuring

Complete 7-Shareholder KYC Coordination

Corporate Governance & Compliance Desk

Eligibility Criteria for Public Limited Registration

1Founders & Promoters

TaxQue Public Company Advisory vs Standard Portals

Key Features of TaxQue Public Company Registration

IPO-Ready Legal Architecture

Full 7-Member Setup

Commencement of Business

Frequently Asked Questions

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