PUBLIC_LIMITED_COMPANY


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D. Public Limited Company

A company that can offer shares to the public is termed as a public limited company. The Companies Act 1956 mandates a list of criteria that have to be met by the public limited companies before they start their business operations in India. A few of these criteria are listed below:

It should have at least seven shareholders.
A public company is allowed to start its activities only after procuring the 'Certificate of Commencement of Business'. The 'Certificate of Incorporation' alone will not suffice the purpose.
The company should release a prospectus or issue a statement to sell its securities.
It must have at least three directors in its board.
The company should conduct statutory meeting from time to time.