Closing One Person Company in India

One Person Company

As the name suggests, an OPC or One Person Company is a business format where a single person owns the Company. There is no more than a single director or more than a single member. Being a single-handled company, an OPC is easy to manage. If you are an entrepreneur who seeks singular success, you can register as an OPC in India.

The definition of a One Person Company is explained in Sub Section 62 of section 3 of the Companies Act, 2013, which states: "One Person Company means a company which features only one Member." Therefore, unlike a Private Limited Company, this single company registration of a single owner doesn't need a minimum of two directors. However, like a private li limited company, the online One Person Company Registration in India does provide you with Limited Liability.

Why do people register for One Person Company?

Benefits of a One Person Company registration

After the online registration of a One Person Company in India, there are the following benefits that can be enjoyed:

• Limited Liability: As the business entity is a company, the entrepreneurs have their assets protected from the Company's failings.
• Separate Legal Entity: An OPC Company is a separate legal entity from the owner.
• Fewer Compliances: The number of compliances for a One Person Company is less.

Winding Up One Person Company

One Person Company is a business entity run by a sole owner with the benefit of limited liability. One Person Company is a separate legal entity from its members, offering protection to its shareholders.

Every One Person Company must nominate a member for the Directorial position in the MOA/AOA in the absence of the prime Directors.

Eligibility Criteria for Closing One Person Company in India

Closing of One Person Company is either voluntary or by the tribunal. Any One Person Company, which has been inoperative for more than a year from its date of incorporation, can apply for the closing of the Company.

It is necessary to file a closing application with the Registrar as it needs to be updated, and the Company is free from all legal compliances and officially closed.

Documents Required for filing Closing One Person Company in India

The following documents are to be submitted to close a One Person Company.

1. Application for Striking off of the One Person Company – The Company that wishes to close must file a closing application with the Registrar
2. Board Resolution for closure – The One Person Company must submit the resolution of closing approved by the board members
3. Consent of Directors – A letter of consent from the Directors stating their opinion to close the One Person Company must be submitted
4. Director's Affidavit
5. Indemnity Bond
6. Statement of Assets and Liabilities – A financial statement indicating the sale of assets and cleared debts must be submitted

Process for filing Closing One Person Company in India

Following is the process we implement to provide Closing One Person Company in India:

1. Signing the statement of assets and liabilities
2. Application filing to the MCA
3. Submission of documentation
4. Application's assessment
5. Closing of One Person Company

Our Assistance in filing the Closing One Person Company in India

We at Registrationwala provide end-to-end solutions for filing Closing One Person Company. Our services include:

• Collection of information and starting the process
• Creating the first compliance draft
• Reviewing the draft and making changes if necessary
• Providing you with the confirmation receipt

Registrationwala.com is a leading legal consultancy firm providing comprehensive services for Closing One Person Companies.

Contact us now to for winding up a One Person Company in India.  

FAQs

Q. How to close an OPC company in India?

A. To know how to close an OPC company in India, refer to the process section of this web page. We have briefed you on every aspect of the in India. To know more about the One Person Company closing procedure, connect with the Incorporation experts at Registrationwala. Our seasoned professionals will detail every aspect of the One Person Company closure procedure in India. Visit site:www.registrationwala.com to know more.

Q. Briefly explain the close of your One Person Company process.

A. Following is the process we implement to provide Closing One Person Company in India:

1. Signing the statement of assets and liabilities
2. Application filing to the MCA
3. Submission of documentation
4. Application's assessment
5. Closing of One Person Company

Q. What are the eligibility criteria for closing an OPC company in India?

A. Closing of One Person Company is either voluntary or by the tribunal. Any One Person Company, which has been inoperative for more than a year from its date of incorporation, can apply for the closing of the Company. It is necessary to file a closing application with the Registrar as it needs to be updated, and the Company is free from all legal compliances and officially closed.

Q. Explain the meaning of a One Man company in India.

A. As the name suggests, an OMC or One Man Company is a business format where a single person owns the Company. There is no more than a single director or more than a single member. Being a single-handled company, an OMC is easy to manage. If you are an entrepreneur who seeks singular success, you can register as an OMC in India. The definition of a One Man/Person Company is explained in Sub Section 62 of section 3 of the Companies Act, 2013, which states: "One Person Company means a company which features only one Member."

Q. How can we cancel the company registration of an OPC in India?

A. To cancel the company registration of an OPC in India, refer to the process section of this web page. We have briefed you on every aspect of the in India. To know more about the One Person Company closing procedure, connect with the Incorporation experts at Registrationwala. Our seasoned professionals will detail every aspect of the One Person Company closure procedure in India. Visit site:www.registrationwala.com to know more.  

Q. What are the requirements for board resolution for a One Person Company?

A. Closing of One Person Company is either voluntary or by the tribunal. Any One Person Company, which has been inoperative for more than a year from its date of incorporation, can apply for the closing of the Company. It is necessary to file a closing application with the Registrar as it needs to be updated, and the Company is free from all legal compliances and officially closed.

Q. What are the document requirements for the OPC Company closure procedure?

A. The following documents will be submitted to close a One Person Company.

• Application for Striking off of the One Person Company – The Company that wishes to close must file a closing application with the Registrar
• Board Resolution for closure – The One Person Company must submit the resolution of closing approved by the board members 
• Consent of Directors – A letter of consent from the Directors stating their opinion to close the One Person Company must be submitted
• Director's Affidavit
• Indemnity Bond
• Statement of Assets and Liabilities – A financial statement indicating the sale of assets and cleared debts must be submitted

Q. Mention the defined procedure for the closure of an OPC under the Companies Act of 2013?

A. To learn about the defined procedure for the closure of an OPC under the Companies Act, refer to the process section of this web page. We have briefed you on every aspect of the in India. To know more about the One Person Company closing procedure, connect with the Incorporation experts at Registrationwala. Our seasoned professionals will detail every aspect of the One Person Company closure procedure in India. Visit site:www.registrationwala.com to know more.

Q. Can one director close a Company OPC?

A. Yes, the director has the sole discretion for winding up the One Person Company in India.

Q. What is a One Person Company in India?

A. As the name suggests, an OPC or One Person Company is a business format where a single person owns the Company. There is no more than a single director or more than a single member. Being a single-handled company, an OPC is easy to manage. If you are an entrepreneur who seeks singular success, you can register as an OPC in India. The definition of a One Person Company is explained in Sub Section 62 of section 3 of the Companies Act, 2013, which states: "One Person Company means a company which features only one Member."

Q. What are the benefits of an OPC One Person Company registration in India?

A. Benefits of a One Person Company registration: After the online registration of a One Person Company in India, there are the following benefits that can be enjoyed:

• Limited Liability: As the business entity is a company, the entrepreneurs have their assets protected from the Company's failings.
• Separate Legal Entity: An OPC Company is a separate legal entity from the owner.
• Fewer Compliances: The number of compliances for a One Person Company is less.

Q. How to close down an OPC company in India?

A. To learn how to close down an OPC company in India, refer to the process section of this web page. We have briefed you on every aspect of the in India. To know more about the One Person Company closing procedure, connect with the Incorporation experts at Registrationwala. Our seasoned professionals will detail every aspect of the One Person Company closure procedure in India. Visit site:www.registrationwala.com to know more.

Q. What is the required documentation for One Owner company registration in India?

A. For a Single-Person Company, the following documents must be submitted to close the Company:

• Application for Striking off of the One Person Company, if the Company wishes to close must file a closing application with the Registrar
• Board Resolution for closure: Every One Person Company must submit the resolution of closing approved by the board members
• Consent of Directors – A letter of consent from the Directors stating their opinion to close the One Person Company must be submitted
• Director's Affidavit
• Indemnity Bond
• Statement of Assets and Liabilities – A financial statement indicating the sale of assets and cleared debts must be submitted

Q. Who offers the best company closure services for One Person Company to MCA in India?

A. Registrationwala is one of the foremost Incorporation service providers in all of Asia. We at Registrationwala provide end-to-end solutions for filing Closing One Person Company. Our services include:

• Collection of information and starting the process
• Creating the first compliance draft
• Reviewing the draft and making changes if necessary
• Providing you with the confirmation receipt

Registrationwala.com is a leading legal consultancy firm providing comprehensive services for Closing One Person Companies.