A Public Company under Section 2(71) of Companies Act, 2013 means a company which has such minimum paid-up share capital as may be prescribed and which is not a private company.
A Public limited company is entitled to gather massive capital from public investors and depositors and can transfer its shares, list its shares in the stock market and since these companies access public funds, there is relatively more statutory control as the public interest in these companies is maximum.
There should be at least 7 persons to form a public company i.e., the minimum number of members is seven and shall have at least 3 directors.
The name of a public limited company must end with the words “Limited”.
