Practicing Success
Which of the following condition should be present in a 'One Person Company'? |
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 All of these |
Paid-up share capital is not more than ₹50 lakhs |
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”. |