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Things to know about One Person Company Registration

One Person Company: Now a days, Company registration in spitted into many types as per the Companies Act, 1956, and later it has been revised in 2013. It means a company which has only one member which is important to note that section 3 classifies OPC as a private company for all the legal purposes of the sole member. All the regulations are accompanied to the private company which is applied to an OPC,unless or otherwise expressly excluded. Though, one…

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One Person Company Registration and its nomination procedures

Here, we are going to look at how one person company can be formed by following the prescribed procedures. We already know that what is one person company since the name itself clearly indicates that the company with the single director can form a firm. Some doubts may arise, when comes to formation. Look at this content, you will get a clear idea. One Person Company: A person who is an Indian resident: will be the eligible one to incorporate…

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Indian Depository Receipt – One Person Company Registration in Coimbatore

Companies (Issue of Indian Depository Receipts) Rules, 2014 – SEBI Guidelines For the purposes of section 390, no company incorporated or to be incorporated outside India, whether the company has or has not established, or may or may not establish, any place of business in India (hereinafter in this rule called ‘issuing company’) shall make an issue of Indian Depository Receipts (IDRs) unless such company complies with the conditions mentioned under this rule, in addition to the Securities and Exchange…

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How to convert an OPC into a Private Limited Company

Introduction about OPC An One Person Company (OPC) is ideal for an individual who runs a business by himself,wants to have effective control over all functions of the business and work in a corporate framework. Any entrepreneur who requires to forming the company with limited liability should register for OPC. An OPC can be eligible or registration minimum capital of just Rs 1 lakh. But if the paid-up capital(annual turnover) exceeds Rs 50 lakh, then the OPC must be converted…

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Shifting of Registered Office – One Person Company Registration

Special Resolution- shifting of registered office within the State [Section 12 (5),(6) and (7) of Companies Act, 2013] Section 12(5) of the 2013 Act requires that a special resolution be passed to move the registered office- (a) in the case of an existing company, outside the local limits of any city, town or village where such office is situated at the commencement of the 2013 Act or where it may be situated later by virtue of a special resolution passed…

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Extraordinary General Meeting – One Person Company Registration in Coimbatore

Companies Act, 1956: Section 169 Section 169 of the 1956 Act empowered the members to requisition the Board to call for an extraordinary general meeting. This section prescribed the minimum number of members in a company with share capital (members having not less than 10% of the paid up share capital carrying voting rights) as well a company without share capital (members having not less than 10% of the total voting power) who can petition to the Board for convening…

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Red – herring Prospectus – One Person Company Registration

Companies Act, 1956: Section 60B Section 60B of the 1956 Act was essentially a provision relating to issuance of a red- herring prospectus which could be circulated to the public without containing particulars of pricing and the quantum of securities being offered to the public, to enable negotiation of the proposed eventual public offer of securities. Section 60B was inserted by the Companies (Amendment Act) 2000 and introduced the concepts of ‘information memorandum’ and ‘red-herring prospectus’. The Companies (Amendment) Act,…

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Company Secretary- Powers and Duties

Company Secretary’s powers and duties Duties are largely ministerial or administrative. Secretary’s duties are largely of ministerial or administrative nature. He has no power to negotiate contracts nor borrow moneys or make policy decisions, nor, in the absence of special authorization, acknowledge a debt or other liability. The Supreme Court observed: Ordinarily the functions of the secretary of the corporation would be ministerial and administrative. As a secretary only, he would have no authority to bind the corporation by entering…

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All you need to know One Person Company Registration

Section 3 of the 2013 Act corresponds to section 12 of the 1956 Act. While section 3 of the 2013 Act provides for formation of a private company and public company as was also provided in the 1956 Act, it additionally now also enables formation of a new entity ‘one person company’ (OPC). The J.J. Irani Committee, the expert committee constituted by the Ministry of Corporate Affairs to advise the Government on the new Company Law has discussed in detail…

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Introduction to One Person Company

One person Company One person company, is a company which has only one person as a member; Companies Act, 2013: Section 2(62) Section 2(62) of the 2013 Act was notified vide SO 902(E) and has been in effect from 01-04-2014. One person company is a new concept introduced for the first time, in India, in the 2013 Act. As per this definition there will be only one member in the one person company. Only a natural person can be a…

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