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Author Topic: Company Structure of an OPC  (Read 585 times)

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Offline anuj.analytics

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Company Structure of an OPC
« on: August 22, 2015, 09:38:18 AM »
Greetings guys,

I was going through the literature provided by the Gazette of India for the Companies Act 2013...and it made my head spin a bit. There are several exemptions given for a One Person Company (OPC), but no where is it clearly laid out what kind of structure this type of firm would have.

I have some questions on this:

1) Is there a need to have a Board Chairman if there is only one member and he is the sole-director?

2) As I understand, the powers to run the firm's day-to-day operations can either be given to a Director on the Board (making him the Managing Director) or to a non-board-member Employee (making him the CEO). In each case I want to know what the pros and cons are. Are there any repercussions or power shifts involved when you appoint a CEO - i.e. an MD being a board member can propose to liquidate some infrastructure or investment, but can a CEO make such decisions since he is not a board member?

3) Is it necessary for a One Person Company to have a Company Secretary and a CFO on it's payroll? Or is the sole-director-cum-MD sufficient?

Thanks in advance.

Regards,
Anuj

 

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