One Person Company concept in India comes to Reality September 3, 2013 By Alok Patnia One Person Company The long awaited-awaited Companies Bill, 2013 has been approved on 29th august, 2013. The new law will simplify the existing Companies Act, 1956 which has been very complex. It provides 33 new definitions. Many new amendments have been made in the Companies Bill, 2013. Here we are providing some knowledge on the recent amendments made and the new clauses and definitions introduced. Hence this article is on “ONE PERSON COMPANY” newly introduced in companies act, 2013. Some of the key highlights of such company are as follows:- ONE PERSON COMPANY:- Such a company has been introduced to permit entrepreneurship of a single individual benefit of corporate form of organization. According to clause 2(62) of the Companies Bill, 2013 –one person company means a company which has only one person as a member. It is a one shareholder corporate entity, where legal and financial liability is limited to the company only.
Posted on: Wed, 04 Sep 2013 10:57:32 +0000