one person company

Querist : Anonymous (Querist) 28 October 2010 This query is : Resolved
what is one person company

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R.Ramachandran (Expert) 28 October 2010
One person company is nothing but a Proprietorship.

pawan sharma (Expert) 28 October 2010
it should be Propritership firm not a company.

Deepak Shenoy (Expert) 28 October 2010
The companies bill 2009 has a provision for one person company . It is a new type of company with limited liability and one person named in its MOA as the director and member.

quote

Cluase 2(1) (zzk) “One Person Company” means a company which has only one person as
a member;
Clause 3(1) (c) one person, where the company to be formed is to be a One Person Company, Provided that the memorandum of a One Person Company shall indicate the name of
the person who shall, in the event of the subscriber’s death, disability or otherwise, become
the member of the company:

unquote

Devajyoti Barman (Expert) 28 October 2010
Good.

s.subramanian (Expert) 29 October 2010
Mr.Deepak is right.

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