Question

explain one person company​

Answer 1

Answer:

Section 2(62) of Companies Act defines a one-person company as a company that has only one person as to its member. Furthermore, members of a company are nothing but subscribers to its memorandum of association, or its shareholders. So, an OPC is effectively a company that has only one shareholder as its member.

Explanation:

Answer 2

Answer:

One Person Company is a company that comprises a single person as a shareholder and can be contrasted with private companies. These companies get all the benefits of a private company such as they to have access to credits, bank loans, limited liability, legal protection, etc.

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