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One person Company to convert itself into a public company or a private company One person company is nothing but a type of the company registration and as the name itself we can understand this type of company. There should be only one person as a director and he is only responsible for each and every process by the company. […]
Continue reading »One Person Company One Person Company is one of the types of a company, which more beneficial to the entrepreneur who starts his business in starting level. Why because the annual paid up capital is less and it provides more and more liabilities. Only a natural person who is an Indian citizen and resident in India- Shall be eligible to […]
Continue reading »Companies Act, 1956: Section 22 It is possible that by inadvertence or otherwise, that the Registrar may have permitted a company to have its name similar to/identical with an existing company. The main object of s. 22 of the 1956 Act was to empower the Central government to direct such a company to change its name. A registered trade mark […]
Continue reading »Introduction to One Person Company In India, One Person Company is a new concept. It is also known as OPC Company. It was first introduced in Companies Act, 2013. The Companies Act, 1956 didn’t have the concept of OPC. In older Companies Act, 1956, the minimum directors are two and shareholders are required to form a basic type of company. […]
Continue reading »Every type of company including One Person Company mandatorily has an auditor to audit their books of account. It is not mandatory to appoint an auditor; the process of auditing has been done by the chartered Accountant or may appoint an auditor. But under the provision, the rotation of auditor not mandatory for One Person Company. Any way, we are […]
Continue reading »Section 21 of Companies Act, 1956 – Change of name of company Section 21 of the 1956 Act prescribes a special resolution and approval of the Central Government for changing the company’s name. (Note: Under the 2013 Act, s. 13(2) and (3) read with the relevant rules in Company (Incorporation) Rules 2014, will govern the process for change of name […]
Continue reading »Incorporation of a company: An OPC (one person company) Registration process in India is simple and easiest process when compared to other type of company registration process. Both sole member and nominee shall be natural persons, Indian citizens, and residents in India Only a natural person who is an Indian citizen and resident in India- Shall be eligible for incorporation […]
Continue reading »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 […]
Continue reading »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 […]
Continue reading »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 […]
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