The paid up share capital of "One Person Company" cannot be more than :

Rs 50 lakhs

The correct answer is option (1) : Rs 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”. Rule 3 of the Companies (Incorporation) Rules, 2014 provides that:

(a) Only a natural person being an Indian citizen and resident in India can form one person company.

(b) It cannot carry out non-banking financial investment activities.

(c) Its paid up share capital is not more than Rs. 50 Lakhs.

(d) Its average annual turnover of three years does not exceed Rs. 2 Crores.