A Public Limited Company, legally known as PLC, is a publicly held company. It is a limited company whose shares can be traded with the public. PLC can be listed or not listed in the stock exchanges. PLC requires a minimum of 3 Directors as a prerequisite.

A Public Limited Company may be closed either voluntarily by the shareholders or compulsorily by the judiciary.

We provide thorough services during this difficult transition of closing Public limited company in India. 

Eligibility Criteria for Closing Public Limited Company in India

Voluntarily closing a Public Limited Company:

This is possible if,

Creditors’ Voluntary Liquidation – The Company and its shareholders chose to liquidate the Company because it can’t pay debts

Members’ Voluntary Liquidation – There Company can pay its debts but the members want to close it

Compulsory closing of Public Limited Company:

This happens in the following scenarios,

The Company is unable to pay its debts

Tribunal orders the Company to be shut down or is of the opinion that the Company is equitable and must be shut down

When the Company has not filed financial statements or annual return in the preceding five consecutive years

The Company has acted against the sovereignty and integrity of the state and India, friendly relations with foreign states, public order, decency or morality

If the Company has been conducted in fraudulent manners or is guilty of fraud or misconduct