GENSERVE

  Limited Liabilty Partnership A limited liability partnership(LLP) is a body corporate formed and incorporated under Limited Liability Partnership Act and is a legal entity separate from its partners having Perpetual succession and any change in the partners of a LLP shall not affect the existence, rights or liabilities of the LLP. LLP can enter into contracts and hold properties in its own name. Liability of Partners is limited up to the extent of agreed contribution in the LLP. While forming a LLP, partners have to make an agreement under which rights, duties, contribution, liabilities and other obligations of partners are noted and the partners are governed through that agreement only. LLP is quite beneficial to small and medium enterprise who wants to get into partnership with their partners to form a business or provide services. As because individual members have lower liabilities to any debts which may arise from running the business and also they get a corporate look for t...

  One Person Company(OPC) was a new concept introduced in Companies Act 2013.In Private Company minimum number of member required is 2,in Public Company minimum number of members is 7 and in Limited Liability Partnership(LLP)minimum number of partners required is 2.But OPC is totally different as number of member required is 1 only. A single person could not incorporate a Company before OPC was introduced but in OPC only 1 member is required and mimimum number of director required is 1. A single shareholder holds 100 percent shareholding. Only a natural person who is a resident of India and also a citizen of India can form a one person company.In event of death or incapacity of member, nominee will become the member of the company so it is required to appoint a nominee for OPC. An individual cannot have two different one person companies in his name at the same point of time and the said person shall not be a nominee of more than a One Person Company. OPC has gain its importance in...

  A Private Limited Company is a business entity which are formed by a small group of people called shareholders who are the real owners of the company. In private company there is no involvement of public in the shareholding or management of the Company. Private limited company can be formed by just 2 members and the liability of the members of a Private Limited Company is limited to the amount of shares respectively held by them. Shares of Private Limited Company cannot be publically traded. Private limited company enjoy some of the major privilege under Companies Act 2013 and the registration process is also easy. It is also considered as separate legal entities and are separate from the existence of their owners which means they cannot be dissolved or end because of the death, retirement or insanity of any of their member or director.