write five features of an OPC
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Answer:
First and foremost is that the company shall have only one member. Member is defined as a shareholder or a person who agrees in writing to become a shareholder or the subscriber of MoA who has agreed to become the member of the company. The member of the company shall always be a natural person. Thus, a company, which is an artificial person, cannot incorporate OPC as a subsidiary or holding company. The natural person who will be the member of the company shall have to be an Indian citizen and a resident of India (a resident of India means a person who has stayed for 182 in the immediately preceding financial year). He shall be a major because he would be the person to enter into a contract on behalf of the company and thus will be liable in breach of the contract. Indian Contract Act specifies that a person entering into a contract shall be a major. The member of the company shall have only one OPC in his name. The member cannot be a shareholder of more than one OPC simultaneously.