Under which section of the Companies Act

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Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Shares

Question:

Under which section of the Companies Act, 2013 'One Person Company' is defined?

Options:

Sec 1(62)

Sec 1(63)

Sec 2(62)

Sec 2(63)

Correct Answer:

Sec 2(62)

Explanation:

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”.