Concepts like One Person Company in order to protect the interest of the promoters have been introduced in The Indian Companies' Act 2103. Also, mentioning of registered office during the course of incorporation is not required any more. Such concepts have been briefly discussed in this presentation. It culminates with some interesting points that have been introduced.

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Some interesting Facts
about new Companies
Act, 2013

2. Paid up capital is more than
50 lacs but less than 5 crores
Turnover is more than 2 crores
but less than 20Crores
Does not apply to section 25
and Section 8 companies
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•Three conditions to be satisfied to form
an OPC:
–Natural Person
–Resident in India
–Citizen of India
•Compulsory Nomination
•MCA forms are in testing stage
•Maximum Five OPC by single person
•Annual Declarations will be filed
•OPC can be converted into Public and
Private Limited if paid up capital is equals
or more than 50 lacs or Average Turnover
equals or exceeds 2 crores
One Person Company Small Company

3. Cancellation of name by ROC
is possible before or after
incorporation
Penal actions for all certifying
authority –civil and criminal
Penalty is upto INR 1Lac and
Criminal Prosecution also
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No concept of Other Objects now
KYC for subscribers – utility bills must for
address
Prof of nationality
Specimen signatures attested by
bankers
Director ship and details of promoter in
other companies for subscribers
Table A to E adoption
Memorandum of Association Name Availability

4. Applicable on both Private
and Public having share
capital
Such companies cannot
exercise borrowing powers
and commence business
unless:
Filed Declaration as
prescribed is filed, minimum
capital is maintained as
paid, all subscribers have paid
the value of shares subscribed
Filed with ROC a Verification
of the RO as per Section 12(2)
ROC can Remove the name of the company if
declaration is not filed with 180 days from
incorporation
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No need to mentioning Registered Office
address at the time of Incorporation
Address of correspondence will do the
purpose
Registered office address needs to be
circulated within 15 days after
incorporation
Physical verification of registered office is
mandatory as declaration will be filed to
ROC
List of all companies with CIN having
same unit/tenement/premises to be
furnished
Registered Office of Company
Commencement of Business

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Interest of Directors in other Firms and
Bodies corporate and their consent
shall be provided at the time of
incorporation
Duty of the Company to preserve and
keep at RO the office copies of
documents as originally filed with ROC
till the dissolution.
Alteration of articles will be more
difficult
Other Interesting Facts
Articles will have
entrenchment provisions
Less attachments and form will
be more descriptive in order to
fetch maximum information

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