ADVANTAGES OF OPC


MAIN ADVANTAGES OF OPC:

  • One person can incorporate private limited company
  • One Person Company (OPC) is limited liability company
  • Only one Director formation of OPC can have maximum of 15 Directors
  • Converting proprietorship model to OPC is very easy
  • Share holder and Director can be same.
  • Legal status as company with full control
  • Rotation of Auditor is not mandatory for One Person Company (OPC)
  • Less compliance and management as Companies Act 2013 provides lot of exemption under various sections as stated below: 
  •  Section 149, 152 & 173 of the Companies Act 2013, tells that OPC needs to have one director; it can have upto 15 director which can be increased by passing special resolution. 
     Section 98, 100-111 (both inclusive) Companies Act 2013, relating to holding General Meeting (AGM, EGM, and notice to convening to General Meeting) is not applicable to OPC 
    Section 134 & 137 of the Companies Act 2013, OPC shall file the financial statements signed by director within 180days from the closure of the financial year. 
PROVISIONS NOT APPLICABLE TO OPC AS PER COMPANIES ACT, 2013
  • Section 98 Power of tribunal to call meetings of members
  • Section 100 Calling of extra ordinary general meeting
  • Section 101 Notice of meeting
  • Section 102 Statement to be annexed with the notice
  • Section 103 Quorum for meetings
  • Section 104 Chairman of meetings
  • Section 105 Proxies
  • Section 106 Restriction on voting rights
  • Section 107 Voting by show of hands
  • Section 108 Voting through electronic means
  • Section 109 Demand Poll
  • Section 110 Postal Ballot
  • Section 111 Circulation of member's resolution


May Known As More for OPC

Our Suggestions

What is LLP?

Limited Liability Partnership (LLP), consortium of flexibility of partnership and the advantages of limited liability of a company at low compliance cost. In simple words LLP means body of corporate with mutually agreed agreement as like in partnership.

What is Pvt Ltd?

Company means a voluntary association formed and organized to carry on a business. In India Company means a company incorporated under Companies Act, 2013 or Companies Act, 1956 or under any previous company law.

What is LTD?

Bass Biz suggest to entrepreneurs who are interested to do business and raise capital through various sources can kick start their business as Pvt Ltd.In India Company means a company Companies Act, 1956 or under any previous company law.

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