A One Person Company (OPC) is a type of company in India that has only one shareholder as its member. It is a relatively new form of business entity introduced in the Companies Act, 2013.
In case aClose One Person Companydown its operations, it must follow the prescribed procedures under the Companies Act, 2013. The process of Closure of OPC in India is known as "winding up" of the company. It can be done either voluntarily or by an order of the National Company Law Tribunal (NCLT).
To voluntarily wind up an OPC, the owner must pass a resolution for winding up, followed by obtaining the consent of at least two-thirds of the creditors in value. The OPC must then file an application for winding up with the Registrar of Companies (ROC). The ROC will then appoint a liquidator who will oversee the distribution of assets among creditors and shareholders.
Legal Dev is a professional service provider that can assist Wind-Up One-Person Company in India. The OPC winding up service provided by Legal Dev can help the owner of the OPC comply with legal formalities and complete the closure process smoothly. Overall, Legal Dev's Wind Up OPC Company Service can help the owner of the OPC navigate the complex legal requirements and procedures involved in the closure process, and ensure that all necessary steps are taken to comply with legal formalities and obligations.
Following is a list of some of the documents required for Winding up One Person Company in India:
Legal Dev is a professional service provider that can help you with all aspects of theClose One Person Company Service to ensure that the closure is completed efficiently and legally. Our team of legal experts has extensive experience in assisting clients with the OPC Closure Process, and we can help you navigate the complex legal requirements and procedures involved in the process.
Yes, an OPC can be converted to a private limited company or a public limited company.
The process typically involves passing a resolution for winding up, obtaining the consent of creditors, appointment of a liquidator, and distribution of assets among creditors and shareholders.
Some of the required documents include board resolution, members' resolution, consent of creditors, appointment of liquidator, and NOC from tax authorities.
The liquidator oversees the winding up process and is responsible for the distribution of assets among creditors and shareholders.
Yes, an OPC can be voluntarily wound up by passing a resolution for winding up.
The NCLT may order the winding up of an OPC if it is found to be in default of certain legal requirements or if it is just and equitable to do so.
Legal Dev can help with all aspects of the OPC winding up process to ensure that the closure is completed efficiently and legally.