MODEL ANSWER TO WRITE A NOTE ON ONE PERSON COMPANY

•     ONE PERSON COMPANY

•     COMPANY LAW

•     MEANING OF ONE PERSON COMPANY

•     NEW CONCEPT INTRODUCED BY THE COMPANIES ACT IN 2013

•     AS PER SECTION 2(62) OF THE COMPANY’S ACT 2013, ACOMPANY CAN BE FORMED WITH JUST ONE DIRECTOR AND ONE MEMBER.

•     IT IS A FORM OF A COMPANY WHERE THE COMPLIANCE REQUIRMENTS ARE LESSER THAN PVT COMPANY

•     PROCESS OF REGISTRATION

•     APPLY FOR DIGITAL SIGNATURE CERTIFICATE: OF THE PROPOSED DIRECTOR WHICH REQUIRES THE FOLLOWING DOCUMENTS:

a.       ADDRESS PROOF

b.       ADHAAR CARD

c.        PAN CARD

d.       PHOTO

e.        EMAIL ID

f.         PHONE NUMBER

•     APPLY FOR DIRECTOR IDENTIFICATION NUMBER:- IN SPICE e FORM ALONG WITH NAME AND ADDRESS PROOF

•     NAME APPROVAL APPLICATION:-THE NAME OF THE COMPANY WILL BE IN THE FORM OF “ ABC(OPC) PVT LTD.

•     TWO OPTIONS ARE AVAILABLE:-

•     APPLICATION IN FORM SPICEe 32 OR BY USING RUN WEB SERIVCES OF MCA BY GIVING ONLY ONE PREFERRED NAME

•     DOCUMENT REQUIRED:-

a.       MOA

b.       AOA

c.        APPOINTMENT OF NOMINEE AND HIS CONSENT IN FORM INC 3 WITH PAN CARD,ADAHAR CARD

d.       PROOF OF THE PROPOSED REGISTERED OFFICE

e.        AFFIDAVIT AND CONSENT OF THE DIRECTOR IN FORM INC 9 AND DIR 2

f.         A DECLARATION OF COMPLIANCE BY PROFESSIONAL

•     FILING OF THE FORM WITH MCA: ATTACHED TO SPICE e FROM, SPICE e MOA, SPICE e AOA

•     ALONG WITH DSC OF DIRECTOR AND THE PROFESSIONAL AND WILL BE UPLOADED ON MCA

•     FORM 49 A AND 49 B WILL BE GENERATED FOR PAN AND TAN AND UPLOADED

•     ISSUE OF THE CERTIFICATE OF INCORPORATION

•     ONE PERSON COMPANY

•     ONLY A NATURAL PERSON WHO IS AN INDIAN CITIZEN AND RESIDENT IN INDIA WILL BE ELIGIBLE TO ACT AS A MEMBER AND NOMINEE OF AN OPC

•     NO SPECIFIC TAX ADVANTAGE

•     MANDATORY COMPLINACE BY ONE PERSON COMPANY:-

1.       AT LEAST BOARD MEETING IN EACH HALF OF THE CALENDAR YEAR AND THE TIME GAP BETWEEN THE TWO BM SHALL NOT BE LESS THAN 90 DAYS

2.       MAINTENANCE OF PROPER BOOKS OF ACCOUNTS

3.       STATUTORY AUDIT OF FINANCIAL STATEMENTS

4.       FILING OF INCOME TAX RETURNS EVERY YEAR BEFORE 30 TH SEPTEMBER

5.       FILING OF FINANCIAL STATEMENTS IN FORM AOC-4 AND ROC ANNUAL RETURN IN FORM MGT 7

•     CONVERSION OF ONE PERSON COMPANY INTO A PUBLIC COMPANY OR PVT COMPANY

•     CLAUSE 6 OF THE COMPANIES

( INCORPORATION) 2014

•     INCREASE IN PAID UP SHARE CAPITAL AND ANNUAL TURNOVER BEYOND LIMITS

CEASE TO ENTITLE AS OPC IF THE PAID UP SHARE CAPITAL OF OPC EXCEEDS RS 50 LACS OR ITS AVERAGE ANNUAL TURNOVER DURING THE RELEVANT PERIOD EXCEEDS 2 CRORES RUPEES( PERIOD OF IMMEDIATELY PRECEEDING THREE CONSECUTIVE FINANCIAL YEARS)

•     CONVERSION WITH IN SIX MONTHS

•     ALTERATION OF MOA,AOA

•     NOTICE TO REGISTRAR: WITH IN 60 DAYS OF THE APPLICABILITY OF RULES

•     PENALTY FOR CONTRAVENTION:-WHICH MAY EXTEND TO 10,000 AND WITH FURTHER FIE OF 1000 RS EVERY DAY

•     FULFILLMENT OF REQUIREMENT OF PUBLIC OR PRIVATE COMPANY

•     PRIVATE COMPANY INTO OPC

•     CLAUSE 7 OF THE COMPANIES

( INCORPORATION ) RULES 2014)

•     DECREASE IN PAID UP SHARE CAPITAL

•     A PRIVATE COMPANY OTHER THAN A COMPANY REGISTERED UNDER SEC 8 OF THE ACT HAVING PAID UP SHARE CAPITAL OF 50 LACS OR LESS OR AVERAGE ANNUAL TURNOVER LESS THAN 2 CRORES

• OBTAINING NO OBJECTION CERTIFICATES

• FILING SPECIAL RESOLUTION AND APPLICATION WITH ROC WITH IN 30 DAYS

• FILE AN APPLICATION IN FORM NO INC 6 FOR CONVERSION INTO ONE PERSON COMPANY ALONG WITH FEES ALONG WITH LIST OF MEMBERS/LIST OF CREDITORS.LATEST AUDITED BALANCE HSEET

• COPY OF NO OBJECTION LETTER OF SECURED CREDITORS

• DECLARATION BY THE DIRECTORS

•