Question

Consider the following statements:
1. An OPC may have a board which is constituted of only one person i.e. the member himself.
2. Provisions related to voluntary winding up or winding up by Tribunal are not applicable to OPC.
3. A company can be member or subscriber of OPC.
Which of the above statement/s is/are not true?

• A. 1 and 3
• B. 1 and 2
• C. Only 2
• D. Only 3

Answer 1

The correct option is C Only 2

• OPC is defined under sub section 62 of section 2 of the Companies Act, 2013. It defines OPC as a company which has only one person as a member where all the legal and financial liabilities are limited to the company and not to its members.
• To carry out voluntary winding up of private limited company procedure, a winding up a meeting need to be called where a resolution is passed to carry out the winding up procedure of the company.
• 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.