Tuesday 8 August 2017

TOPIC 14: QUICK REFERENCE TO “ONE PERSON COMPANY”

TOPIC 14: QUICK REFERENCE TO “ONE PERSON COMPANY”

.

Quick Reference to " One Person Company " :-

.
Legal Provision:-
.
2(62), 193 of Companies Act, 2013.

Rule 3 (1), Rule 4, of Companies ( Incorporation ) Rules, 2014.
 .

Points:-
.
1. One person Company means a Company having only 1 Person as a member.
.
2. Its basically a Private Company with some unique features.
.
3. The OPC must have minimum 1 director and maximum limit is 15.
.
4. A Person should be resident of India, Natural Person and Citizen of India to incorporate a OPC.
.
5. A Person must not be member of more than 1 OPC and Nominee of More than 1 OPC.
.
6. OPC cannot be converted into Section 8 Company.
.
7. OPC cannot be registered as NBFC.
.
8. OPC can have max. ₹ 50 lakh or Max Avg. Annual T/O of ₹ 2 Cr.
.
9. Two Years should have expired from the date of Incorporation OPC in the case of Voluntary Conversion from OPC to another Company.
.
10. OPC can be incorporated through SPICe Mode.
.
11. Body Corporate cannot become member of an OPC.
.
12. Section 98 & Section 100 to Section 110 of Companies Act, 2013 are not applicable to OPC.
.
13. In case of an OPC, the Board report and Financial Statement will be signed by 1 Director only.
.
14. The Fixed term of 5 years for appointment of Auditor is not applicable to OPC.
.
15. Minor shall not become member or Nominee of an OPC.
.
16. Form INC-5 is not required to filed in case of Voluntary Conversion of OPC.
..

Regards
ACA SOURAV BAGARIA

No comments:

Post a Comment