Under the Companies Act, 2013, OPC is a separate legal entity and will need to register for a perpetual succession. Here, the liability to make loan repayments availed by the OPC falls on the OPC only unlike a sole proprietorship.
APAmong advantages, one can say that an OPC is free from stringent legal compliances such as board meetings, financial statement inclusions, quorums, mandatory rotation of an auditor.
AP