The concept is attractive because it eliminates the need for cumbersome practices like board meetings and closing locks. The changes introduced can benefit around 200,000 companies
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Budget 2021 | Nirmala Sitharaman
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Last updated on February 2, 2021 at 11:38 PM IST
According to experts, the budget proposal for the establishment of a one-person company (OPC) will encourage entrepreneurship in the country.
OPC is attractive because it eliminates the requirements of traditional time-consuming and cumbersome methods like board meetings and closing locks. “The changes introduced could potentially benefit around 200,000 companies in India in easing their compliance requirements, as the threshold for the existence of an OPC used to be lower and the conversion to a limited liability company or a public company placed more restrictions on trading in the Company meant. .
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First published: Tue, February 2, 2021. 6:04 p.m. IST
