Setting up as a PLC means you own a Public Limited Company and permit you to offer shares to the public. A public limited company is a voluntary association of members which is incorporated and, therefore has a separate legal existence and the liability of whose members is limited. Its formation, working and its winding up, in fact, all its activities are strictly governed by laws, rules and regulations. The Indian Companies Act, 2013 contains the provisions regarding the legal formalities for setting up of a public limited company.
Minimum Three (3) Directors and Seven (7) shareholders required to register a Public Limited Company.