Start-up Business Benefits from Auditing Bazaar
Public Company
₹39,999
The Public Limited Company is a wider form of the limited company, which has no restriction on the maximum number o19f shareholders, listing its shares in the stock market, transfer of shares, and raising funds from public and accepting public deposits; all of these activities cannot be done by a private limited company. Again, unlike a private limited company, a public limited company is governed and managed by a Board of Directors constituted as per the unanimous consent of the shareholders. However, a public limited company has much more compliance burden, as compared to that necessary for a private limited company.
Description
Public Company
A Public Company under Section 2(71) of Companies Act, 2013 means a company which has such minimum paid-up share capital as may be prescribed and which is not a private company.
A Public limited company is entitled to gather massive capital from public investors and depositors and can transfer its shares, list its shares in the stock market and since these companies access public funds, there is relatively more statutory control as the public interest in these companies is maximum.
There should be at least 7 persons to form a public company i.e., the minimum number of members is seven and shall have at least 3 directors.
The name of a public limited company must end with the words “Limited”.
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