Tuesday, 26 November 2019

# Settingup of Business

An OPC can be formed with limited liablity only comment

Ans-
OPC means a company which has only one person as a member .Sec 3(1) of companies act 2013provides that company may be foemed for lawful purpose by 1)two or more person in case of pvt co.
2)seven or more person in case of public co.
3)one person in case of opc ,by subscribing there MOA and AOA.

sec3(2) provides that company formed may have liability of members ,

  1. limited by shares
  2. limited by gurantee
  3. unlimited
hence in acordence with above mention provision it is clear that opc may be formed with liability of its member being limited or unlimited.

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