Query on One Person Company and Sole Proprietorship
Need some info about OPC and sole proprietor.?
Provide details of your query. What exactly do you want to know about one person company and sole proprietorship.
What information do you require.? Please specify.
Normally to incorporate a Company in India, there has to be minimum 2 promoter (shareholder). Under the new Company Act, 2013, new concept of OPC has been introduce whereby only One Person can form a Company instead of requirement of having minimum 2 Share holders. however, there is a Cap on OPC i.e. if the turn over or the authorized share capital of this company raises above Rs. 50 lac, then OPC has to be compulsory be converted into Private Limited Company, (having minimum 2 promoters)
If you need any specific information then feel free to contact.
Vivek N Mapara
Both differ in liability.
Book a phone consultation with a top-rated lawyer on Lawfarm.