Conversion of One person company into pvt ltd company
Posted by registrationwala on March 19th, 2016
One person company is a new thought to give support to sole proprietorship it encourage individuals to open their own company by investing his own money without any hindrance with full control.
Through OPC the dream of individual of opening his own company become true.
The main benefit of OPC is that the liability of the director is limited only towards assets of the company while in case of proprietorship the liability is unlimited i.e. in case of any loss the creditors can claim towards proprietor personal asset.
A One person Company can convert into private limited company under two situations;
After such conversion the new entity came into existence and now, the profits and liability is divided amongst the director of the company i.e. two in case of private company and 5 in case of public company. Now every act is done by board of directors instead of Individual.Top Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
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