The Introduction of OPC model has encouraged corporatization of micro businesses and entrepreneurship with a simpler legal regime so that the entrepreneur is not compelled to devote considerable time, energy and resources on legal compliances.
|Registered Office||OPC must have registered office capable of receiving communication||-|
|Company Merchandise||The word OPC shall be mentioned in brackets below the name of such company wherever its name is printed, affixed or engraved||-|
|MOA||The name of the nominee should be included in the MOA||-|
|Board Meetings (BM)||OPC shall be deemed to have complied with the section 173 of Companies Act,2013 for board meetings if atleast one meeting has been conducted in each half of the calendar year. The gap between two meetings shall not be less than 90 days||-|
|Annual General Meetings (AGM)||No need to conduct Annual General Meeting||-|
|Auditor Appointment||An Auditor must be mandatorily appointed by the OPC||Within 30 days of Incorporation|
||Within 180 days from the closure of FY.
Within 60 days from the end of FY plus 6 months