Explanation
OPC (One Person Company) is governed by Sections 2(62) and 3(1)(c) of the Companies Act 2013. Only one member (natural person, Indian citizen, resident in India for ≥182 days in the preceding calendar year) can form an OPC. A nominee must be appointed — the nominee takes over if the sole member dies or becomes incapacitated. OPC has minimum 1 director (usually the same as the sole member). Filing: OPC files AOC-4 but uses MGT-7A (simplified annual return). OPC with paid-up capital > ₹50 lakh or turnover > ₹2 crore must mandatorily convert to a regular Pvt Ltd. Verify on the MCA V3 portal.