|Maximum No. of Directors
||Maximum number of directors in Private Limited Company are Fifteen.
||Maximum number of directors in One Person Company are Fifteen.
|Extension of Directors
||A Private Limited company may appoint more than fifteen directors after passing a special resolution.
||A One Person company may appoint more than fifteen directors after passing a special resolution.
|Minimum No. of Members
||Minimum number of members in Private Limited Company are Two.
||Minimum number of members in OPC are One.
|Minimum No. of Directors
||Minimum number of directors in Private Limited Company are Two
||Minimum number of director in OPC is one
|Maximum No. of Members
||Maximum number of members in Private Limited Company are Two Hundred.
||Maximum number of members in OPC are also One.
|Minimum Paid up Capital
||No Minimum Paid-up Capital.
||Minimum Paid-up Capital is Rs.1,00,000.
|Maximum Paid up Capital
||No limit for Maximum Paid-up Capital.
||Maximum Paid-up Capital is Rs.50,00,000.
||A Private Company has no obligation to call the Statutory Meeting of the members.
||The provision relating to holding of AGM is not mandatory for a OPC.
||The quorum for Private Company is TWO members present personally.
||Quorum for meetings is not applicable.
|Meetings of Board
||Every company shall hold the first meeting of the Board of Directors within 30 days of the date of its incorporation and thereafter hold a minimum number of four meetings of its Board of Directors every year.
||A One Person Company shall be deemed to have complied with the provisions of this section if at least, one meeting of the Board of Directors has been conducted in each half of a calendar year.
|Gap between meetings
||The gap between two consecutive meetings of the board is not more than 120 days.
||The gap between the two meetings is not less than 90 days.
||Annual returns shall be signed by a director and the company secretary, or where there is no company secretary, by a company secretary in practice.
||Annual returns shall be signed by the company secretary, or where there is no company secretary, by the director of the company.
|Applicability Of Sec. 98, 100, & 101
||Section 98, 100, 101(both inclusive) shall apply to a Private Limited Company.
||Section 98, 100, 101(both inclusive) shall not apply to a OPC.
|Appointment of Directors
||No provision is made in the articles of a company for the appointment of the first director, the subscribers to the memorandum who are individuals shall be deemed to be the first directors of the company until the directors are duly appointed.
||In One Person Company, an individual being a member shall be deemed to be its first director until the director or directors are duly appointed by the member.
||The financial statements, including consolidated financial statements, if any, shall be approved by the Board of Directors before they are signed on behalf of the Board at least by the chairperson of the company where he is authorized, by the Board or by two directors out of which one shall be managing director and the Chief Executive Officer, if he is a director in the company, the Chief Financial Officer and the company secretary of the company, wherever they are appointed.
||In the case of a One Person Company, the financial statements, including consolidated financial statements, if any, shall be approved only by one director, for submission to the auditor for his report thereon.
||The report of the Board of Directors to be attached to the financial statements.
||A Report containing explanations or comments by the Board on every qualification, reservation or adverse remark or disclaimer made by the auditor to be attached.
|Copy of financial statements to be filed with Registrar
||A copy of the financial statements, including consolidated financial statements, if any, along with all the documents which are required to be attached to such financial statements under this Act, duly adopted at the annual general meeting of the company, shall be filed with the Registrar within 30 days of the date of annual general meeting.
||A One Person Company shall file a copy of the financial statements duly adopted by its member, along with all the documents which are required to be attached to such financial statements, within 180 days from the closure of the financial year.
|Contract by One Person Company
||Where One Person Company limited by shares or by guarantee enters into a contract with the sole member of the company who is also the director of the company, the company shall, unless the contract is in writing, ensure that the terms of the contract or offer are contained in a memorandum or are recorded in the minutes of the first meeting of the Board of Directors of the company held immediately after entering into the contract.
||Section 193(1) shall apply to contracts entered into by the company in the ordinary course of its business.
|Every contract entered into shall be informed to the Registrar
||The company shall inform the Registrar about every contract entered into by the company within a period of 15 days of the date of approval by the Board of Directors.
|Formation of a company
||The memorandum of One Person Company shall indicate the name of the other person, with his prior written consent in the prescribed form, who shall, in the event of the subscriber’s death or his incapacity to the contract will become the member of the company and the written consent of such person shall also be filed with the Registrar at the time of incorporation of the One Person Company along with its memorandum and articles.
|Change in the name of Nominee
||The member of One Person Company may at any time change the name of such other person by giving notice in such manner as may be prescribed. Any such change in the name of the person, shall not be deemed to be an alteration of the memorandum.