Practicing Success
Which of the following is not a condition for a 'One Person Company'? |
Cannot carry out non-banking financial investment activities Paid-up share capital is not more than ₹50 lakhs The average annual turnover of 3 years exceeds ₹2 crores None of these |
The average annual turnover of 3 years exceeds ₹2 crores |
One Person Company (OPC): Sec. 2 (62) of the companies Act, 2013, defines OPC as a “company which has only one person as a member”. Rule 3 of the Companies (Incorporation) Rules, 2014 provides that: |