One person company is a concept introduced in India by the Companies Act, 2013. The concept opens up new vistas of business opportunities and particularly spectacular possibilities for sole proprietorships and entrepreneurs who can enjoy the advantages of limited liability, and the benefit of separate legal entity as well.

Ministry of Corporate Affairs vide its G.S.R. Notification No. 250(E) dated 31st March, 2014 notified the Companies  (Incorporation) Rules, 2014 under the Companies Act, 2013 which provide for formation of One Person Company.

The ICSI as part of its capacity building initiatives under the Companies Act, 2013 thought it fit to bring out Ready Reckoner on One Person Company, as a self teaching aid to understand the basic elements of the new business vehicle. The ready reckoner introduces the readers to the concept of One Person Company, provides insight into the historical perspective and the international position with respect to OPC. It lists the salient features, privileges and the law governing OPCs in a capsule form. The provisions relating to incorporation and conversion of OPCs have been explained in a lucid manner for the benefit of the readers. Lastly, the FAQs on this novel concept have been put as annexure along with the Rules notified by the MCA in this regard.

Download One Person Company – Ready Reckoner from ICSI Website – https://www.icsi.edu/Docs/Webmodules/ONE%20PERSON%20COMPANY.pdf

Source- ICSI

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ONE PERSON COMPANY – Legal Provisions & Brief Comparison

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Category : Company Law (3706)
Type : News (13434)
Tags : Companies Act (2171) Companies Act 2013 (1944) OPC (38)

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