One Person Company eligibility and mandatory conversion on exceeding prescribed thresholds require nominee nomination and prescribed filings. Rules prescribe OPC eligibility-only a natural Indian resident may incorporate and be nominee, with a cap on number of OPCs per person and deadlines to regularise nominee membership; subscribers must nominate successor members with prior written consent and file prescribed nomination forms and notices on incorporation, withdrawal or change of nominee. OPCs exceeding prescribed capital, turnover or balance-sheet thresholds must convert into private or public companies within a fixed period, alter constitutional documents by resolution, notify the Registrar and comply with conversion formalities; noncompliance attracts fines.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
One Person Company eligibility and mandatory conversion on exceeding prescribed thresholds require nominee nomination and prescribed filings.
Rules prescribe OPC eligibility-only a natural Indian resident may incorporate and be nominee, with a cap on number of OPCs per person and deadlines to regularise nominee membership; subscribers must nominate successor members with prior written consent and file prescribed nomination forms and notices on incorporation, withdrawal or change of nominee. OPCs exceeding prescribed capital, turnover or balance-sheet thresholds must convert into private or public companies within a fixed period, alter constitutional documents by resolution, notify the Registrar and comply with conversion formalities; noncompliance attracts fines.
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