A Private Company having paid up share capital up to Rs. 50 lacs or having average annual turnover, during the last 3 years, up to Rs. 2 crore may convert itself into One Person Company by passing a special resolution in a General Meeting.
Step 1 : Board Meeting
Hold board meeting for approval of the Members/Creditors for the conversion of Pvt Company into OPC.
Decide the date for the General Meeting to pass Special Resolution for the approval of Members/Creditors and approve draft notice calling the Shareholders’ Meeting.
Obtain No Objection Certificate from Members/Creditors before passing resolution.
Hold General Meeting to pass special resolution for conversion of Private Company into One Person Company.
File form MGT-14 (for tutorial of form click here) within 30 days of passing special resolution with the concerned Registrar.
File form INC 6 (For tutorial of form Click Here) for conversion with the concerned Registrar of Companies with following attachments-
Ø Declaration from all the Directors in way of affidavit giving declaration with regard to the Capital of the Company;
Ø The list of Members/Creditors;
Ø The latest audited Balance sheet with Profit & Loss account;
Ø The copies of No Objection Letters of secured creditors.
On being satisfied, the Registrar will issue the Certificate for the same.
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