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Companies Act- Section 2(62) - One Person Company

ONE PERSON COMPANY(OPC)

Section 2 subsection (62) “One Person Company” means a company which has only one person as a member

My review
This is a new section added in the act which is having significant role in conversion of proprietorship concerns to Limited liability entities. But the scope and limitations of the said entity to be studied in detail to analyse the impact the said section can create in the Corporate community of India. We will analyse the same in details in the coming blog chapters.