One-person company draft rules ready
Updated: Dec 06, 2013 05:43:55pm
“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)