In year 2014, with the applicability of The Companies Act, 2013 many new concepts have been introduced in the law and change has been brought in way of running the company in India. One such concept is One Person Company (OPC).
As the name suggest One Person Company (OPC) is a company where there is only one member. Lets us understand its other important aspects also.
As per Section 2 of the Companies Act, 2013 “One Person Company” means a company which has only one person as a member. Though it can have more than one Director but it can never have more than one member otherwise it will lose its status of One Person Company also it will lead to non-compliance with the provisions under The Companies Act, 2013 related to One Person Company (OPC).
Read more on: https://taxguru.in/company-law/one-person-company-opc-incorporation.html
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