NABL accepts the “One Person Company (OPC)” as a legal entity of CAB
NABL accepts the “One Person Company (OPC)” as a legal entity of CAB under the Companies Act 2013.
An OPC has features of a Company along with the benefits of a Sole Proprietorship.
An OPC can have just one single member and one Director. The Director and member can also be the same person. OPC of sole-proprietor and company form of business has been provided with concessional /relaxed requirements under the Companies Act, 2013.
The accredited CABS which are under Proprietorship are given a transition period till 31.12.2023 to align with any one of the legal entities specified in the Notification