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.

FY: Financial year i.e. from 1st April of one year to 31st March of the consequent year

Requirement Explanation Timeline
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 at least 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
Annual Filing - Financial Statements including Balance Sheet and P&L in Form AOC-4
- Annual return of the Company is Form MGT-7
- Within 180 days from the closure of FY.
- Within 60 days from the end of FY plus 6 months

Disclaimer
The content of this article is for information purpose only and does not constitute advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer to relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up. The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that the Author / Treelife Consulting is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof.

Download Startup Guide
A guide with complete lifecycle of startup
Download
close-link

Treelife Ventures Services Private Limited.
All Rights Reserved. © 2022.