LLPs do not require any minimum capital for their formation, providing flexibility to partners. This differs from private limited companies, which mandate a minimum capital of ₹1 lakh. The absence... Read More
Author: solubilis
An LLP must have a minimum of two partners. If it operates with fewer than two partners for more than six months, the sole partner becomes personally liable for the... Read More
An OPC (One Person Company) can have only one member, who is considered the initial director as per Section 152(1) of the Companies Act, until additional directors are appointed. The... Read More
OPCs cannot function as banks, non-banking financial companies (NBFCs), quasi-banks, trusts, insurance companies, public or publicly listed companies, government-owned and controlled corporations (GOCCs), or for professional practices unless explicitly permitted... Read More