Company Law

Requirements

(1) Requirements

1OPC

Small Company

Other Private Companies

Public Companies

Minimum No. of Directors [S. 149(1)(a)]

1

2

2

3

Maximum No. of Directors [S. 149(1)(b)]

15

[> 15 after passing a special resolution]

Minimum No. of Directors resident in India [S. 149(3)]

1

1

1

1

Minimum No. of Members [S. 3(1)]

1 #

2

2

7

Maximum No. of Members

1

[S. 2(62)]

200

[S. 2(68) read with S. 2(85)]

200

[S. 2(68)]

No limit

Authorized share capital (Practically,)

Not specified

( ₹ 100,000)

Not specified

( ₹ 100,000)

Not specified

( ₹ 100,000)

Not specified

( ₹ 500,000)

# Conditions for a sole member/nominee of sole member of OPC [R.3]

  • Natural person
    • CANNOT be a member of > 1 OPC & Nominee of > 1 (sole member of) OPC
    • If becomes a member of 2 OPCs by virtue of being a nominee⟶ ensure compliance within 182 days
  • Should not be a minor
  • Indian citizen
  • Resident in India [Stayed in India for NOT < 182 days during the immediately preceding FY]
    • while counting the number of days of stay in India for FY 2018- 2019, any period of stay between 01.01.2018 till 27.07.2018 shall also be counted