One Person Company shall hold its AGM

One Person Company shall hold its AGM

In India One Person Company is the modern form of business which is proposed by the Companies Act, 2013. It is a hybrid structure which combines most of the benefits of a sole proprietorship and a company from of business. Therefore it does away with the hassles of finding the right kind of co-partner/s for starting a business as registered entity.

OPC is a company where there is only one person as the member of company. Being just one-member Company, the One Person Company has lesser compliance requirement compared to Private Limited Company or Limited Liability Partnership.

In this article we will discuss about Annual Filing of One Person Company with Registrar of Companies.

As One Person Company is not required to hold any Annual General Meeting. Therefore, one can opine that, even if the date of AGM extended by the Ministry of Corporate Affairs, It will not impact the Due Date of AOC-4.
  • LEGAL PROVISION:
Any business which is needed to be transacted at an annual general meeting or other GM of a company by means of an ordinary or special resolution, it will be sufficient if, in case of OPC, the resolution is communicated through the member to the company and entered in the minutes-book.
  • IMPACT OF PROVISION:
  • As OPC having only one member, therefore One Person Company is not required to hold any General Meeting (EGM/ AGM).
  • OPC have to maintain minutes of Annual General Meeting as per (Section 122).
  • Due date of Annual General Meeting of OPC is 27th
  • OPC just have to take note the resolution to be passed in General Meeting Like:
    • Adoption of Annual Accounts
    • Adoption of Directors Report
    • Appointment of Auditor. etc.

If Date of AGM is extended by Ministry of Corporate Affairs, whether Due Date of AOC-4 of OPC shall be extend or not?

As One Person Company is not required to hold any Annual General Meeting. Therefore, one can opine that, even if the date of AGM extended by the Ministry of Corporate Affairs, It will not impact the Due Date of AOC-4.



Created & Posted By Aashima
Accounts Executive at TAXAJ

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