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Conversion of pvt. co. to one person company

CA Pooja Agarwal (Chartered Accountant) (3228 Points)

23 February 2015

can a Pvt be converted to one man company??

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Deepak Gupta (CA Student) (15922 Points)
Replied 23 February 2015

A private company (other than a section 8 company), having paid up share capital of Rs. 50 lakhs or less or average annual turnover during the immediately preceding 3 consecutive financial years is Rs. 2 crore or less, may convert itself into one person company by passing a special resolution in the general meeting.
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- To know more, refer to Rule 7 of the Companies (Incorporation) Rules, 2014.