The Concept and Salient features of One
person Company
One
Person Company (OPC) is defined in sub section 62 of section 2 of the Companies
Act, 2013 which reads as follows:
“One
person company means a company which has only one member”
The important features of the One Person
Company (OPC) –
1.
OPC has only one person as a member/shareholder.
2.
OPC can be registered only as a Private Company.
3.
OPC may be either a company limited by share or a company limited by guarantee
or an unlimited company.
4. An
OPC limited by shares shall comply with following requirements:
a. Shall have minimum paid up capital of INR 1 lac.
b. Restricts the right to transfer its shares
c. Prohibits any invitations to public to subscribe for the
securities of the company.
5. An
OPC is required to give a legal identity by specifying a name under which the
activities of the business could be carried on.
