A company which has only one person as a member Section 3 - PowerPoint PPT Presentation

 A company which has only one person as a member  Section 3 classifies OPC as a Private Company  Provisions related to the private company are applicable to an OPC  A person cannot form more than 1 OPC.

• Member and Nominee of OPC shall be:- natural person, citizen of India and Resident in India* • Written Consent of nominee in Form INC 3 • Share capital not be less than 1 lakh INR and not be more than 50 Lakh INR • No person shall be eligible to incorporate more than 1 OPC • Registered office of the company Shall be established on the date of incorporation Or 15th day of its incorporation

What is DIN? • It is a 8 Digit Unique Identification Number for Directors • Every individual intending to be appointed as director of a company shall make an application for allotment of DIN to How to apply for it? Central Government • Application shall be made in e- form DIR 3 by using Digital signatures of applicant • Proof of identity :- What documents • In case of Indian National- PAN CARD is must • In case of Foreign National- PASSPORT is must required to furnish • Proof of residence • Copy of verification duly attested by authorized person with e-form? • Scanned high resolution recent passport size photograph of the applicant • The government fees for filing form for allotment of DIN is Rs. Fees 500/- per applicant

File an From the date application for of application reservation of the names gets One Name To Registrar in E- reserved for a Person Form INC 1 period of 60 Company (Sixty) days Application fee is Rs. 1000/- Note:- The proposed name shall not be identical with or resemble too nearly to the name of an existing company registered under this Act or any previous company law, undesirable in the opinion of the Central Government, constitute an offence under any law for the time being in force.

Application in INC-1 (reservation of name to registrar On approval of name Within 60 days Application in INC-2 Application in INC 22 (incorporation of Co.) (Registered office ) If registered office is permanent Registrar

MOA shall be prepared as per Table A of Schedule I and it shall include the following clauses:- • 1. Name Clause • 2. Situation Clause • 3. Objects Clause • 4.Share Capital Clause AOA shall be prepared as per Table F of Schedule I Copy of PAN residential proof of the member and the nominee Consent of nominee in Form INC-3 along with enclosures. Affidavit in Form No. INC-9. Specimen Signature duly verified by Notary or Bank Official in Form INC-10 Proof of registered office address Proof that the company is permitted to use the address of the registered

Registered office In case if company furnished Temporary Temporary Permanent Address as Address of Correspondence at the time of filing at the time Incorporation Form INC 7 of Incorporation (along with INC 7) within 30 days of incorporation . File form INC 22 along with reg. add. proof Attachments (any of the following):- • Any utility bill which shall not be older than 2 months • the authorization from the owner or authorized occupant of the premises along with proof of ownership • Notarized copy of lease or rent agreement in the name of the company not older than 1 month • The registered document of the title of the premises of the registered office in the name of the company

Registrar On receipt of E - form INC-7 , E - form INC 22 (if required) Issues Certificate of Incorporation in Form INC 11

One Person company cannot commence any business or exercise any borrowing powers Until:- within 180 days of incorporation Fie with Registrar verification of its A declaration in e- form registered office in e- INC 21 form INC 22

If any person furnishes any false or incorrect particulars of any information or suppresses any material information, of which he is aware in any of the documents filed with the Registrar in relation to the registration of a company or at any time after incorporation it is proved that false documents etc been filed, the promoter, the first Director and the person making declaration for incorporation shall be:-  punishable with imprisonment for a term which shall not be less than 6 months but which may extend to 10 years and  shall also be liable to fine which shall not be less than the amount involved in the fraud, but which may extend to three times the amount involved in the fraud.

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