The minimum number of persons required to start a public limited companies

Solution (By Examveda Team)

A public limited company is a joint stock company. It is governed under the provisions of the Indian Companies Act, 2013. The minimum number of members required to start a public company is seven. While there is no maximum limit on the number of members, it is formed by the association of persons voluntarily with a minimum paid up capital of 5 lakh rupees. Transferability of shares have no restriction. The company can invite public for subscription of shares and debentures. The term public limited is added to its name at the time of incorporation.