by Audit Analyst | Aug 1, 2025 | OPC
Legal Provision The Companies Act, 2013 permits an OPC to appoint more than one director. Although only one member is allowed, there is no restriction on the number of directors (within limits). An OPC must have at least one director, who may also be the sole member....
by Audit Analyst | Aug 1, 2025 | OPC
Ownership and Capital Contribution The sole member is the owner and shareholder of the OPC. They contribute the entire share capital required to establish and run the company. Their liability is limited to the unpaid amount on their shares, offering personal asset...
by Audit Analyst | Aug 1, 2025 | OPC
Legal Status and Capacity An OPC is recognized as a separate legal entity under the Companies Act, 2013. It has the legal capacity to own assets, enter into contracts, and invest in shares of other companies. Being a private limited company (with a single member), an...
by Audit Analyst | Aug 1, 2025 | OPC
Preparation of Key Information The sole promoter must decide on the company’s proposed name, business activity, and registered office location. Identification details of the member, nominee, and proposed director must be ready, along with their consent. Required...
by Audit Analyst | Aug 1, 2025 | OPC
Definition of Resident Director A resident director is a director who stays in India for a specified minimum number of days in a financial year. According to the Companies Act, 2013, a resident director must have stayed in India for at least 120 days during the...
