A public limited company is a popular way and the best structure to start a business in India. According to section 2(71) of the Companies Act, 2013 public companies are those companies whose shares are freely transferable in public and do not have an upper limit of a number of members. This type of structure is best for those who want to create big corporate and take public funding.
By forming public limited companies, we can raise funds via Initial Public Offers (IPO), Further Public Offers (FPO), and Funding through Financial Institutions. In the eyes of law, the public limited company is an artificial person and is separate from its directors and members. Due to this directors and members are not liable to pay debts in their personal capacity. For the formation of public limited in India, we require a minimum of three directors, and out of them, one must be an Indian resident. According to the law, a public limited has three types i.e. company limited by shares, a company limited by guarantee, and an unlimited company. By registering a public limited company we will grab the benefits of government schemes like Startup India, Standup India, Unsecured Loan, and many more.
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