ONE PERSON COMPANY (OPC):

Several significant concepts have been introduced for the first time under Companies Act, 2013 and one of them being One Person Company. Section 2 (62) defines one person company as a private company with only one director and one shareholder. However, it can have more than one director, and up to a maximum of 15.

One Person Company of sole-proprietor and company form of business has been provided with concessional/relaxed requirements under the Companies Act, 2013. With the implementation of the Companies Act, 2013, a single national person can constitute a Company, under the One Person Company (OPC) concept.