by Audit Analyst | Aug 2, 2025 | OPC
Maintain Proper Documentation Keep all legal, financial, and operational records updated and organized at the registered office. Record all important decisions, even if informal, through written resolutions and preserve them securely. Retain invoices, contracts,...
by Audit Analyst | Aug 2, 2025 | OPC
Mandatory Nominee Appointment Succession planning in an OPC begins with the mandatory appointment of a nominee at the time of incorporation. The nominee must be a natural person, an Indian citizen, and a resident of India. This nominee gives written consent (Form...
by Audit Analyst | Aug 2, 2025 | OPC
Compliance with the Companies Act, 2013 An OPC is governed under the Companies Act, 2013, and must follow rules applicable to private limited companies with specific exemptions. It must maintain a registered office, a valid Memorandum and Articles of Association (MoA...
by Audit Analyst | Aug 2, 2025 | OPC
Centralized Decision-Making and Control Business operations in an OPC are controlled by a single member, who often also acts as the director. This centralization allows for faster decision-making, minimal internal conflict, and clear responsibility. The sole member...
by Audit Analyst | Aug 2, 2025 | OPC
Personalized Customer Interaction OPCs are typically managed by a single owner, allowing for direct and personalized communication with customers. The owner often acts as the primary point of contact, which helps build trust and long-term loyalty. Responses to...
