Public Companies are governed under sec 2 (70) of the Companies Act, 2013.
Sec 2 (70) defines public company as the one which is not a private company.
Mandatory Requirements to incorporate a public company:
- There must be at least 3 directors
- Minimum number of members should be 7 and there is no limit on the maximum number of members
- No restriction on transfer of shares
- Can also invite money from public subject to compliance of various applicable laws and adherence of FEMA regulations & guidelines.
Public & Private Company- A Comparison:
A Public Company has a larger number of compliances as compared to a private company. So it is advisable to the clients to incorporate a private limited company and later on as per the requirements of the organisation convert a private company into a public company.
How we help you in the process of successful Incorporation of your company?
We provide our extensive services in incorporating a company right from the first stage of approving the name for your company, obtaining DIN (Director Identification Number), DSC (Digital Signature) of Directors, obtaining Certificate of Incorporation.