ONE PERSON COMPANY UNDER THE COMPANIES ACT, 2013 - IN ACTION

The Companies Act, 2013 has introduced the ground breaking new concept of “OPC” pursuant to the suggestion given by Dr. JJ. Irani. The concept One Person Company (OPC) may be new to India but it has been in practice in many developed countries like United Kingdom and many European Countries. This type of company will run like a sole proprietorship but it will get the benefit of separate entity with limited liability. In this article, the author discussed about the concept of One Person Company, its pros and cons, special privileges etc.