An OPC is a new development in the corporate history in India. This form enables a sole proprietor or sole partner to convert his firm into a limited liability company and derive the advantages of an incorporated company.
OPC shall be having the status of a private limited company
Section 3(1) (c) provides that where the company to be formed is to be OPC it shall be considered as a Private Company.
Types of OPC
Section 3(2) of the Companies Act, 2013 provides that the OPC formed under section 3(1) may be either
A company limited by shares; or
A company limited by guarantee; or
An unlimited company