11. Formation of Public Limited Company (Additional Steps)

A public company however needs to obtain Commencement of Business Certificate also apart from Certificate of Incorporation to commence business. To incorporate a public limited company there are certain additional forms and documents required to be submitted to the Ministry of Corporate Affairs and Registrar of Secretaries.

  1. eForm-20 , to be filled and submitted by the director or company secretary. This is a declaration that states the amount of the shares and share capital of the company and that the company has not issued a prospectus inviting the public to subscribe for its shares.  
  2. Statement in lieu of Prospectus to be submitted to the Registrar of Companies
  3. Affidavit from each director stating that the Company has not commenced its Business to Registrar of Companies
  4. Board resolution for approval of preliminary expenses, appointment of first auditors (also enclose their consent letter) to Registrar of Companies

OR

  1. File a declaration in eForm-19 and attach the prospectus (Schedule II of The Companies Act 1956) to it. eForm-19 is a declaration of amount of share capital to be offered to the public by the company.
  2. Affidavit from each director stating that the Company has not commenced its Business- to Registrar of Companies
  3. Board resolution for approval of preliminary expenses, appointment of first auditors (also enclose their consent letter) to Registrar of Companies

 

Registrar of Companies thereafter shall process the documents and if all the documents are in order then it will issue a Certificate for Commencement of Business.