{"id":2173,"date":"2019-08-01T09:38:52","date_gmt":"2019-08-01T09:38:52","guid":{"rendered":"https:\/\/commerceiets.com\/?p=2173"},"modified":"2019-08-01T09:38:52","modified_gmt":"2019-08-01T09:38:52","slug":"public-company","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/public-company\/","title":{"rendered":"PUBLIC COMPANY"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/public-company\/#PUBLIC_COMPANY\" title=\"PUBLIC\nCOMPANY\">PUBLIC\nCOMPANY<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/public-company\/#FEATURES_OF_PUBLIC_COMPANY\" title=\"FEATURES OF PUBLIC COMPANY\">FEATURES OF PUBLIC COMPANY<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"public-company\"><span class=\"ez-toc-section\" id=\"PUBLIC_COMPANY\"><\/span><strong>PUBLIC\nCOMPANY<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-medium-font-size\">Public Company is the company which can be incorporated with zero paid up capital as per the Companies Act (Amendment), 2015.This is the company which can start its business with minimum 7 members. It has to get registered with the Registrar of companies and required to obtain the Certificate of Incorporation and Certificate of Commencement to start its business. It raise its capital by issuing the shares to the public.<\/p>\n\n\n\n<p class=\"has-luminous-vivid-amber-background-color has-background has-medium-font-size\"><strong>ACCORDING TO SECTION 2(71) OF COMPANIES ACT, 2013<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">\u201cA public company is a company <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>which is not a private company<\/li><li>is a private company but a subsidiary of a\npublic company.\u201d<\/li><\/ul>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"features-of-public-company\"><span class=\"ez-toc-section\" id=\"FEATURES_OF_PUBLIC_COMPANY\"><\/span>FEATURES OF PUBLIC COMPANY<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-medium-font-size\"><strong>NUMBER OF MEMBERS <\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">The public company must have minimum 7 members to start its\nbusiness. The maximum number of members can be unlimited.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>SHARE CAPITAL<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">It has its capital divisible in number of shares. The company raise its capital by issuing the shares to the public. The shares issued may be either Equity of Preference shares.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>DOCUMENTS REQUIRED<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">It has to prepare the Memorandum of Association, Articles of Association and Prospectus and has to submit these documents with the Registrar of the companies to get the company registered.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>REGISTRATION<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">It is compulsory for this company to register itself. The company gets registered with the Companies Act, 2013.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>NUMBER OF DIRECTORS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">This company must have minimum 3 directors.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>LEGAL MEETINGS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">It is required to hold the statutory meeting within 6 months of its getting Certificate of Incorporation and Certificate of Commencement of business.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>USE OF WORD \u2018LIMITED\u2019<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Every public company is required to use the word \u2018Limited\u2019\nas suffix with its name.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>CERTIFICATE REQUIRED TO START BUSINESS OPERATIONS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">The public is required to get the Certificate of\nIncorporation as well as the Certificate of Commencement to start its business.\nCertificate of Incorporation is the conclusive evidence that:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>All the requirements of incorporation of the Act\nhave been complied with in respect of registration.<\/li><li>The company is duly registered<\/li><li>That the company came into existence on the date\nmentioned in the certificate.&nbsp; <\/li><\/ul>\n\n\n\n<p class=\"has-medium-font-size\">Certificate of Commencement is the conclusive evidence that\nthe company can exercise its borrowing rights and it is entitled to start its\nbusiness.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PUBLIC COMPANY Public Company is the company which can be incorporated with zero paid up capital as per the Companies Act (Amendment), 2015.This is the company which can start its business with minimum 7 members. It has to get registered with the Registrar of companies and required to obtain the Certificate of Incorporation and Certificate&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/public-company\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;PUBLIC COMPANY&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":2177,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[102],"tags":[109],"class_list":["post-2173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-accounting","tag-company"],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2173"}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=2173"}],"version-history":[{"count":0,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/2177"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=2173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=2173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=2173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}