One Person Company (OPC) Compliance and Annual Filing

ONE PERSON COMPANY- REGARDING HOLDING OF BOARD MEETING, ANNUAL GENERAL MEETING AND FILING OF FINANCIAL STATEMENTS

  1. Meetings of Board {Section 173(5)}
  • At least one meeting of the Board of Directors to be conducted in each half of a calendar year
  • Gap between the two meetings should not be less than ninety days
  • Exemption – if company has only one director.
  1. Holding of Board Meetings

The company shall hold two board meetings once in a year with a gap of 6 months. (i.e. January to June and July to December).

  1. Holding of Annual General Meeting

As per Section 139 (1) OPC has to hold its first Annual General meeting of members to appoint Statutory Auditor of company who shall hold office from conclusion of first AGM till conclusion of sixth AGM.

  1. Financial Statements i.e. Balance sheet and Profit and Loss Account
  • The financial statements of a one person company shall be signed by one director alone. As per section 137(1) Third Proviso, Financial statements shall be adopted and signed in Board meeting and filed within 180 days from 31.03.2017 with ROC.
  • Cash Flow Statement is not a mandatory part of financial statements for a One Person Company.
  • The annual return of a One Person Company shall be signed by the company secretary, or where there is no company secretary, by the director of the company as per Section 92 of Companies Act 2013.
  1. Filing of Annual forms with Government

Financial Statement:- It shall cover Balance sheet, Profit or loss account, Auditor’s report, Notes of accounts 

A B
Type of form Companies Act 2013
Financial Statement, Profit or loss statement e-form AOC-4
Annual Return e-form MGT-7

 Due Dates of filing e-forms and mandatory attachments with Government

Type of e-form  Due Dates Mandatory attachments to e-form
AOC-4 29th September, 2017. Copy of Financial Statements
MGT-7 29th September, 2017. Copy of Annual return  (MGT-9)

 Exemptions available to OPCs under the Companies Act, 2013

              1. Section 98. Power of Tribunal to call meetings of members.

  1. Section 100. Calling of extraordinary general meeting.
  2. Section 101. Notice of meeting.
  3. Section 102. Statement to be annexed to notice.
  4. Section 103. Quorum for meetings.
  5. Section 104. Chairman of meetings.
  6. Section 105. Proxies.
  7. Section 106. Restriction on voting rights.
  8. Section 107. Voting by show of hands.
  9. Section 108. Voting through electronic means.
  10. Section 109. Demand for poll.
  11. Section 110. Postal ballot.
  12. Section 111. Circulation of members’ resolution.


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2 thoughts on “One Person Company (OPC) Compliance and Annual Filing

  1. Is a CS necessary for filing ROC for a OPC?

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