Company Accounts

Share Capital

Easy

common

According to Sec 2 (62) of Companies Act, 2013,the maximum amount of paidup share capital of an OPC is:

50 Lakhs

2 Crore

10 lakhs

1 crore

✅ Correct Option: 1

A One Person Company (OPC) is defined under Section 2(62) of the Companies Act, 2013, as a company with only one person as a member.

For maintaining the status of an OPC, the Companies Act, 2013 prescribes certain threshold limits. If these limits are exceeded, the OPC must convert itself into a Private Limited Company or Public Limited Company within 6 months.

Threshold Limits for OPC:

Paid-up Share Capital: Should not exceed ₹50 Lakhs

Average Annual Turnover: Should not exceed ₹2 Crores (for immediately preceding three consecutive financial years)

Once either of these limits is breached, the OPC loses its eligibility to continue as an OPC and must undergo conversion to another form of company.

Correct Answer: Option 1 - 50 Lakhs

2026: 19 May Shift 1

Which of the following statements are true in relation to securities premium resreve ?

(A) 'Securities Premium Account' is shown under the title 'Assets' of the company's balance sheet under the head 'Reserves and Surplus'.

(B) Securities Premium Account balance can be used to write-off preliminary expenses of the company;

(C) Securities Premium Account balance can be used to pay premium on the redemption of preference shares or debentures of the company.

(D) Securities Premium Account balance can be used to issue partly paid bonus shares to the extent not exceeding unissued share capital of the company;

Choose the correct answer from the options given below:

2022: 30 Aug Shift 2

The company issued 20,000 equity shares of Rs. 10 each to vendor. After issuing them the shares the vendor will be considered as:

2022: 20 July Shift 1

Arrange the following steps as per the procedure of issue of shares :

(a) Receipt of applications

(b) Allotment of shares

(d) Issue of prospectus

(e) Forfeiture of shares

Choose the correct answer from the options given below :

2026: 29 May Shift 1

According to _____ of the Companies Act, 2013, an equity share is a share which is not a preference share.

2022: 20 July Shift 1

If a share of Rs. 100 on which Rs. 45 has been paid is forfeited at what minimum price can it be reissued :

2026: 11 May Shift 2

Discount allowed on the reissue of forfeited shares is

According to Sec 2 (62) of Companies Act, 2013,the maximum amount of paidup share capital of an OPC is:

Solution

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