One Person Company
    By: CA Rajesh Saluja             Lunawat & Co.
                                             OPC
          •   Section 2(62) – One Person Company means a 
              company which has only one member.
          •   One Person Company may be either a Company limited 
              by share or a Company limited by guarantee or 
              an unlimited Company.
          •   An OPC limited by shares shall comply with following 
              requirements:
          •   a. Shall have minimum paid up capital of Rs.1,00,000/-.
              b. Restricts the right to transfer its shares.
              c.  Prohibits any invitations to public to subscribe for 
              the securities of the company.
        By: CA Rajesh Saluja
                                             OPC
          •   Section 3 (1)(c) – A company may be formed by one 
              person by subscribing his/her name to a memorandum.
              Only a natural person who is an Indian citizen and 
              resident in India-
              
 shall be eligible to incorporate a One Person 
              Company; 
              
 shall be a nominee for the sole member of a One 
              Person Company 
        By: CA Rajesh Saluja
                     OPC
     Explanation.- For the purposes of this rule, the term 
       "resident in India" means a person who has stayed in 
       India for a period of not less than one hundred and 
       eighty two days during the immediately preceding one 
       calendar year. 
    By: CA Rajesh Saluja