A private company can convert itself Public Limited Company by altering its Memorandum and Article of association by obtaining shareholders’ approval by way of passing of special resolution in general meeting.
The liability of members extends only to the contribution of the nominal value of the shares held and not paid by them. It has the words ‘Limited’ as part of its name.
A company incorporated under Companies act never dies. A company can, only be closed with the consent of shareholders or by the process given in Law.
Requirement of minimum capital to start a public limited company has been dispensed with by the Ministry of corporate affairs.
A Public limited company hold the privilege of being separate from its directors and shareholders. Member and directors cannot claim the property vested in company’s name.
Identical, similar or nearly resembles are not allowed by registrar of companies while applying for reservation of name. Once your company is registered, any other person cannot register another company, with the similar or resembling name.
A public limited company can accept deposit from public by issuing Shares/debentures to the public.
Shares of public limited company can be listed on stock exchange and such shares can be traded by public at large.
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