A Public limited company requires having a minimum of three directors and seven shareholders. However, there is no maximum number of shareholders for a public limited company through the maximum number of Directors is not to exceed beyond fifteen. Though Foreign National or NRIs can be a director of a public limited company, any one of the directors should be a resident Indian citizen. It is very important to note here that no minor can be a director of the company.
The minimum capital required to form a public limited company is Rs.500, 000/- However, as per theAct, this limit is not applicable to companies having a license under section 25.
For a public limited company is concerned, the capital requires further more explanation as there are three other capitals which are also involved. The amount of capital mentioned in the Memorandum of Association is termed to be an Authorized Capital.
Authorized Capital is the maximum amount of shares that a company can offer to its shareholders. The authorized capital of a company can be increased or decreased as per procedures and provisions in the Companies Act of 2013. The minimum authorized capital for a public limited company is Rs. 5 Lakhs.
DIN for all the directors are mandatory as the documents of the company should be ratified by all of its Directors presented in a Board Meeting constituted in regular intervals of time.