Companies Act, 2013 And Draft Rules. Broad overview of the new law and some key aspects relevant to different stakeholders. Directors : Duties of Directors clearly laid down – Higher accountability.
And Draft Rules
Broad overview of the new law and some key aspects relevant to different stakeholders
Section 3 and 4 of the Companies Act 2013 (“Act”) provide for setting up of OPCs for a ‘lawful purpose’. There are no restrictions/thresholds contemplated in the statute relating to formation / capital / change in status of OPC.
Apart from possibly making the OPC route un attractive the draft Rules for OPC by imposing restrictions, appear to be in conflict with the substantive provision of the Act.