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No, it is not mandatory for holding a meeting for one person company if there is only one director.
Annual return is filed by one person company before 30th September of the financial year.
No, there is no need to file a cash flow statement in the financial statement of one person company.
In case, you are registered as OPC and if your
Then it has to convert itself within 6 months from the date on which any of the above conditions is fulfilled. This requirement is as per rule 6 of Companies (incorporation) Rules, 2014.
The Ministry of Corporate Affairs notified the modifications to the one-person company’s, as released in Budget 2021. As regards the provisions introduced: 1. Thresholds of paid-up capital exceeding INR 50,00,000/- or turnover exceeding Rs 2 crores for mandatory transformation/conversation to non-one person company Public/Private Company shall be withdrawn.
The answer is simple; only one person is required in OPC. You don’t need another person. If you are independently want to commence your business without involving any other person then One Person Company (OPC) is the idle choice for you.
When the OPC concept wasn’t introduced in India, the above categories of people usually choose Proprietorship as their form of business. The proprietorship has many disadvantages like
And many others as well. Further proprietorship as a form of business also not considered trustworthy. One Person Company (OPC) is a solution for all the above problems. Therefore, to make the above category of businesses more organised, OPC was introduced.
“Therefore, start-ups should use OPC as their form of business to make your business more organised and more valuable”.
Read More about : LLP Incorporation and Annual Compliances
Yes, it is true. Funding is not a problem for One Person Company (OPC) subject to if you have a good business idea and business plan.
Reserve Bank of India (RBI) has instructed banks to increase the funding made to priority sectors, viz agriculture and small-scale industries. Eligible priority sector lending:-
Manufacturing Sector | |
Enterprises | Investment in Plant & Machinery |
Micro Enterprises | Do not exceed 25 lakhs rupees |
Small Enterprises | More than 25 Lakhs but does not exceed 5 crores |
Service Sector | |
Enterprises | Investment in Plant & Machinery |
Micro Enterprises | Do not exceed 10 lakhs rupees |
Small Enterprises | More than 10 Lakhs but does not exceed 2 crores |
One Person Company coming under any of the above category may fall under priority sector lending. There is enormous scope for One Person Companies to leverage the benefits of priority sector lending.
Further, there are some additional benefits:-
Therefore don’t worry about the funds, just concentrate on your core business idea & evolve it into a business plan, incorporate a One Person Company (OPC) with Carajput.com and start your business today!
Yes, Public limited Companies are valued higher than every form of business. As per the statistics published by U.S. Chamber of commerce and Entrepreneur.com, private companies are valued at only four to six times, while public companies are typically valued at multiples greater than twenty times earnings.
There are many reasons for it, namely
The obvious result is an immediate and substantial increase in the net worth of its founders and shareholders.
Many companies that are about to be purchased, strategically converting themselves into the public company to be purchased at a much higher price.
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