New Delhi, Dec 6 (KNN)  India will see emergence of “one –person company”  for which draft rules have been prepared and comments from the stakeholders which include industry and  professionals, would be invited.

“Draft Rules have been prepared with regard to ‘one- person company’ registration system for small entrepreneurs and would be notified in due course after stakeholders’ comments and legal vetting,” Minister of Corporate Governance Sachin Pilot said today in a written reply in the Lok Sabha.

However, he said that the relevant provisions of Companies Act, 2013 have not yet come into force.

It is expected that “one-person company” would help the professionals and the small enterprises to get themselves into an organised sector. The new format would also help the small entrepreneurs access bank credit.  (KNN/PC)