One Person Company Definition

Section (62) of the Companies Act, 2013:-

“One Person Company” means a company which has only one person as a member;

Section (55) of the Companies Act, 2013:-

“Member”, in relation to a company, means—

(i) the subscriber to the memorandum of the company who shall be deemed to have agreed to become member of the company, and on its registration, shall be entered as member in its register of members;

(ii) every other person who agrees in writing to become a member of the company and whose name is entered in the register of members of the company;

(iii) every person holding shares of the company and whose name is entered as a beneficial owner in the records of a depository;