One Person Company-Meaning, Nature , Nominee, Conversion to Private or Public Company.

 




DEFINITION

According to Section 2(62) of the Companies Act, 2013 “One Person Company” means a company that has only one person as a member.

NATURE


MEMBERS & DIRECTORS


ELIGIBILITY

Only a natural person who is an Indian Citizen and resident of India*
  • Shall be eligible to incorporate a OPC
  • Shall be a nominee for the sole member of OPC    
*Resident of India  : person who has stayed in India for a period of not less than 120 days during the immediately preceding financial year.

NOMINATION

  • The memorandum of OPC shall indicate the name of the nominee after obtaining his prior consent in FORM INC-2 ,who shall in the event of the subscriber's death or his incapacity to contract ,become the member of the company.
  • The memorandum containing the name of person shall be filed with Registrar of company at the time of incorporation.
  • No minor shall become member or nominee of the opc or can hold share with beneficial interest.

CHANGE OF NOMINATION

  • When a person appointed as nominee by the member of OPC withdraw his consent by giving a notice in writing to member of OPC.
  • Member of OPC shall nominate another person as nominee within 15 days of the receipt of withdrawal, and shall send the intimation of nomination in writing to the company along the written consent of new nominee in FORM INC-3.
  • Further Company shall within 30 day of receipt of the notice of withdrawal of consent shall file with the registrar, a notice of such withdrawal of consent and the intimation of the name of person appointed in FORM INC-4 along with the fees as prescribed in Companies( Registration offices & fees) rules,2014 and the written consent of such another person so appointed in FORM INC-3.

CONVERSION OF OPC



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