Private Limited Company to OPC
- ✔ Reduces administrative burden by eliminating the requirement for mandatory Board Meetings and Annual General Meetings (AGM).
- ✔ Lowers annual compliance costs by utilizing simplified annual return forms like MGT-7A specifically designed for OPCs.
- ✔ Retains the prestigious corporate status and limited liability protection while consolidating full control in the hands of a single individual.
- ✔ Simplifies the decision-making process as no multiple director approvals or quorum requirements are necessary for resolutions.
- ✔ Offers an ideal exit strategy for co-founders or directors looking to transition the business to a solo-led enterprise.
- ✔ Provides exemption from certain complex statutory reporting requirements under the Companies Act, 2013.
- ✔ Ensures perpetual succession through the mandatory nominee mechanism, protecting the business against unforeseen events.
- ✔ Maintains the "Separate Legal Entity" status, allowing the business to continue owning assets and contracts independently of the owner.
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