Kindly tell me why we, a public limited company, use a Certificate of Commencement of Business not in a Private Limited company?
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In a public limited company, the Certificate of Commencement of Business is required to commence business activities, as per legal regulations. This certificate is necessary to ensure that the company has met all the statutory requirements before starting its operations. On the other hand, a Private Limited company does not necessarily need this certificate as they have different compliance requirements under the Companies Act. The distinction in the usage of this certificate between the two types of companies lies in their regulatory obligations and the legal framework governing their operations.
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In a public limited company, the Certificate of Commencement of Business is required to commence business activities, as per legal regulations. This certificate is necessary to ensure that the company has met all the statutory requirements before starting its operations. On the other hand, a Private Limited company does not necessarily need this certificate as they have different compliance requirements under the Companies Act. The distinction in the usage of this certificate between the two types of companies lies in their regulatory obligations and the legal framework governing their operations.