Naina Agarwal (CS) (47 Points)
09 April 2014
CS BHAVIN SHETH
(MANAGER-Company Secretary)
(131 Points)
Replied 10 April 2014
Dear Naina,
Conversion of Private Companies into OPC
A private company can be converted into a OPC provided:
1. it is not a Section 8 (with charitable objects) company
2. its paid up capital is equal to or less than Rs.50 lacs
3. its average annual turnover is equal to or less than Rs.2 crores in the relevant period
4. it obtains a NOC from members and ceditors
5. it passes a special resolution in its general meeting for such conversion and the same is filed with the Registrar within 30 days in form MGT 14
regards
BHAVIN SHETH
Naina Agarwal
(CS)
(47 Points)
Replied 10 April 2014
thank you sir for the minimum requirement but my ques was for procedure and the documents that need to be prepared for such conversion.
CS BHAVIN SHETH
(MANAGER-Company Secretary)
(131 Points)
Replied 15 April 2014
Dear NAINA,
As required by you,
Conversion of private company into One Person Company.-
Company with charitable objects etc (i.e. Section 8 companies) cannot cover itself into OPC.
The directors of the company shall give a declaration by confirming that all members and creditors of the company have given their consent for conversion, the paid up share capital company is fifty lakh rupees or less or average annual turnover is less than two crores rupees, as the case may be;
(ii) The list of members and list of creditors;
(iii) The latest Audited Balance Sheet and the Profit and Loss Account; and
(iv) The copy of No Objection letter of secured creditors
6. On being satisfied, the Registrar shall issue the Certificate.
regards
BHAVIN SHETH
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