What is Company

Company is a body for doing business etc. registered under the Company's Act. Liability of the individuals forming the Company will be limited to the investments made by the individuals in the form of shares. A single person also can form a company,

In simple terms, a company is a voluntary group of people who have come together to carry on a business and share the profits.

In India, a one-person company is a business with a single proprietor.

In India, the Companies Act of 2013 encouraged the formation of one-person companies. It controls the formation and operation of a one-person corporation in India. In contrast to a public business, a private company must have at least two directors and two members, however, a one-person company does not require any group of persons to be incorporated. 

Section 262 of the Companies Act of 2013, as well as the formal registration of a one-person corporation in India, are both legal. A single director and a single member representing the entire form are required to register a One person corporation in India. In contrast to a private business, this corporation type has very little compliance responsibilities.

By Sahithi Reddy

"In India, a one-person company is a business with a single proprietor."

A proprietorship is legally different from a company. Liabilities are not limited to the investments made in a proprietorship firm. The first ever company in India was the East India Company. It was incorporated in England.