A public limited company is a voluntary association of members which is incorporated and, therefore has a separate legal existence and the liability of whose members is limited.
The continuity of existence of the business is not affected in any way by the status of the owner, which helps in avoiding inconveniences.
If the company experiences financial distress because of normal business activity, the personal assets of shareholders will not be seized by creditors.
The available shares of the business are freely transferable, providing more liquidity to its shareholders and making it more manageable.
A public company is a company which is owned and traded publicly.
There is no requirement of Minimum paid up capital for starting a public limited company.
Minimum seven people (subscribers) are required to incorporate a public limited company.
A public Company must have at least 3 Directors to manage the affairs of the company.
Such vacancy shall be filled either:
a. In immediate next board meeting; or
b. Within 3 months from the date of vacancy; Whichever is later.
It is an Unique Identification Number allotted to an individual who is an existing director of a Company or who intends to be appointed as a director of a company.
Every Company shall mandatorily hold the first meeting of the Board of Directors within 30 days of the date of Incorporation.
A company shall hold a minimum number of four meetings of its Board of Directors every year in such a manner that not more than one hundred and twenty days shall intervene between two consecutive meetings of the board.
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