Miscellaneous Articles

NEW CLASS OF CUSTOMERS

 

Two Types of such Customers recently introduced are
1) Limited Liabilities Company (LLP)
2) One Person Company (OPC)

LLP
i) Minimum 2 persons required to start the company.
ii)The company gets a Certificate of Registration.(Birth certificate).
iii) The assets of the company are liable but not the personal assets.
iii) Charge on company assets can be created and recorded and hence the borrowers (Banker) feel comfort than loans to the partnerships.
iv) This improves the credibility since a corporate entity.
v) The LLP is a separate legal entity; different from its directors. It is a legal person .
vi) Registration is easy and online.
vii) The legal compliance are also fewer.
vii) From lenders point of view it has perpetual existence ie death do not close all business doors.----*******------

ONE PERSON COMPANY (OPC)

i) Single person required to start the company.
ii)The company gets a Certificate of Registration.(Birth certificate).
iii) The assets of the company are liable but not the personal assets.
iii) Charge on company assets can be created and recorded and hence the borrowers (Banker) feel comfort than loans to the partnerships.
iv) This improves the credibility since a corporate entity.
v) The OPC is a separate legal entity; different from its Promoter.It is a legal person .
vi) Registration is easy and online.
vii) The legal compliance are also fewer.
vii) From lenders point of view it has perpetual existence ie death do not close all business doors.

THUS IT has features of the Limited Liability Company such as protection, transferability and ease of undertaking business. 

 
 

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