In the United Kingdom, a public limited company (PLC) is a public corporation. PLC is the British counterpart of an Inc. or corporation-designated publicly listed business in the United States. The inclusion of the PLC acronym following a business’s name is required, as it informs investors and anyone interacting with the firm that it is a publicly listed company.
Public Limited Company or PLCl comes under Companies Act,2013. The Company enjoys the interest of limited liabilities and has rights to sell its shares to raise the capital of the company. It is formed to raise funding from the public through IPO etc.
Eligibility to form Public Limited Company
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Number of Directors- Minimum 3 and Maximum 15.
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Number of Shareholders- Minimum 7 and maximum no limit.
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Citizenship- At least one director should hold Indian Citizenship.