Quick Summary
Public Limited Company can offer shares to the general public and has a minimum of 7 members.
A Public Limited Company (PLC) is a company that can offer its shares to the general public. It must have at least 7 members and 3 directors. There is no maximum limit on the number of members.
Key Features
- Minimum 7 members, no maximum
- Minimum 3 directors
- Can invite public to subscribe shares
- Shares are freely transferable
- Can be listed on stock exchange
- Minimum capital ₹5 lakh (no longer mandatory but practical)
Requirements
- Name must end with "Limited"
- Minimum 4 board meetings per year
- Must hold AGM every year
- Quorum: 5 members for general meeting
- Prospectus or statement in lieu of prospectus required
Key Points
- Minimum 7 members
- Minimum 3 directors
- Can offer shares to public
- Can be listed on stock exchange
- Higher compliance than Private Limited