CONVERSION PRIVATE LTD TO ONE PERSON COMPANY

• The paid-up capital of the company shall be or less than Rs. 50.00 Lacs
• Average annual turnover of the company during the relevant period shall be less than Rs. 2.00 Crores
• NBFC or Section 8 Company cannot convert into OPC.
• Company must have 2 directors.

Procedure

•  Issue notice in accordance with the provisions of section 173(3) of the Companies Act, 2013, for convening a meeting of the Board of Directors.
• No Objection Certificate in writing from existing members and creditors.
• Few E-forms will be filed with concerned Registrar of Companies (ROC) at different stages.
• Notice of EGM along with copy of explanatory statement under section 102;
• Certified True copy of Special Resolution
• Altered Memorandum of Association and Articles of association;
• Certified True copy of Board Resolution may be attached as an optional attachment.