Abstract

In approaching years, it doesn't appear like the one person company was ever originated as part of Indian corporate arrangement but is a global hybrid corporation thought that was initiated after entailment of the company act 2013 in India by the input of ‘Dr. JJ Irani committee report of 2005’ with a design of endorsing the structured corporation with minimal risk tolerance. Essentially, it serves as the convenience to that segment of the corporate world which often gets discounted. In this exploration expedition, the researcher attempted to critically appraise the fundamental understanding of OPCs together with its historical and jurisprudential view, reflecting its developmental journey throughout multiple lenses in which it cropped up as an asset in a few circumstances, but likewise had a prejudiced perspective on its own. It also undertakes to accommodate the OPCs' specific legal and statutory requirements that have an impact on the substantive implementation of the OPC idea in India. It moreover examines the advancement, necessity and influence of OPCs in India on entrepreneurship on numerous mounts, as well as by examining the two vital years: the initial dimensions in which OPCs were originally proposed in India (2014-2015), and the second, the prevailing era of 2021 as of August 31, 2021. It assimilates the latest modification of 2021 in companies (Incorporation) rules 2014 regarding OPCs in a renewed mindset simultaneously with the jolt of pandemic years. Ultimately, the researcher discusses the government's actions in relation to OPCs, along with alternative suggestions over how OPCs might overcome their shortcomings and attain their objective.

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