One Person company means a company which has just one member.
It is defined under Section 2 of The Companies Act 2013.
An OPC is incorporated as a private Limited Company, in which there will be just one member and there is prohibition in regard to invitation to the public for subscription of the securities of the Company.
FEATURES OF OPC:
1. An OPC can be categorised into two sub heads:
a) Company limited by gaurantee
b) Company limited by Shares.
If an OPC is limited by Shares then it must fulfill the following 3 conditions
a) it shall have a minimum paid up capital of ₹1 lac
b) right to transfer its shares is restricted.
c) Prohibition on any invitation to public to subscribe for the securities of the Company.
2. An OPC is required to give itself a legal identity by its name and the activities and business it will be working on.
3. The Words ' ONE PERSON COMPANY' should be mentioned along with the name of the company.
It is defined under Section 2 of The Companies Act 2013.
An OPC is incorporated as a private Limited Company, in which there will be just one member and there is prohibition in regard to invitation to the public for subscription of the securities of the Company.
FEATURES OF OPC:
1. An OPC can be categorised into two sub heads:
a) Company limited by gaurantee
b) Company limited by Shares.
If an OPC is limited by Shares then it must fulfill the following 3 conditions
a) it shall have a minimum paid up capital of ₹1 lac
b) right to transfer its shares is restricted.
c) Prohibition on any invitation to public to subscribe for the securities of the Company.
2. An OPC is required to give itself a legal identity by its name and the activities and business it will be working on.
3. The Words ' ONE PERSON COMPANY' should be mentioned along with the name of the company.
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