Explain the concept of One Person Company

A One Person Company (OPC) is a type of company in which only one person owns and manages the business. The concept of OPC was introduced in India in 2013 under the Companies Act, 2013 to encourage entrepreneurship and facilitate ease of doing business. OPC allows a single entrepreneur to start and run a business without the need for a second shareholder or director.

Features of One Person Company:

1. Single Promoter: OPC can be formed with only one person as the promoter and shareholder. ___ _______ _____ ______ ____ ____.
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