PRIVATE LIMITED COMPANY TO ONE PERSON COMPANY

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PRIVATE LIMITED TO PUBLIC LIMITED

INR 29,999
Per Class
  • Private Limited to Public limited
  • Conversion filing
  • Conversion update

PRIVATE LIMITED COMPANY TO ONE PERSON COMPANY

INR 14,999
Per Class
  • partnership to llp/pvt ltd
  • conversion Filing
  • conversion Update

PUBLIC TO PRIVATE LIMITED

INR 29,999
Per Class
  • public to private limited
  • conversion Filing
  • conversion Update

What is Private Limited?

Section 2(68) of Companies Act, 2013 defines private companies. According to that, private companies are those companies whose articles of association restrict the transferability of shares and prevent the public at large from subscribing to them. This is the basic criterion that differentiates private companies from public companies.


What is One Person Company?

Section 2(62) of the Companies Act, 2013 (“Act”) defines OPC as a company which has only one person as a member.

Benefits And Procedure for conversion

Benifits of Conversion

1. The biggest advantage of a one person company is that its identity is distinct from that of its owner. Therefore, if the firm is embroiled in a legal controversy, the owner will not be sued, only the company will.
2. Another advantage is limited liability.
3. Since the company is distinct from that of its owner, the personal assets of the shareholders and directors remain protected in case of a credit default. However, a proprietorship offers no such advantage.

Procedure Of Conversion

The procedure for conversion of the private company into a One Person company is regulated by Rule 7 of companies incorporation rules, 2014. A privately company other than an organization enrolled under Section 8 Companies Act 2013, who has an share capital of INR 50 lakhs rupees or those having a average annual turnover is 2 crore rupees during the relevant period, may change over their private Company into one Person Company. The Company will acquire a NO objection in writing as a hard copy from existing members and creditors when passing a special resolution in the general meeting. The Companyis required to file Special Resolution passed by shareholders /investors for Conversion of Private Company into One Person Company (OPC) with concerned Registrar of Companies. Thus, file e- form MGT14 within 30 days from the date of Special Resolution with the concerned Registrar of Companies with the requisite documents.

Documents Reqiured Along With Fees

The directors of the company shall give a declration by way of an affidavit duly sworn in affirming that all members and creditors of the organization have given their assent for Conversion of Private Limited in to OPC, the paid up share capital Company is fifty lakhs rupees or less or average annual turnover is less than two crores rupees,as the case may be;
1. The list of members and list of creditors;
2. The most recent Audited Balance Sheet and the Profit and Loss Account; and The copy of No Objection letter from secured creditors.
Concerned Registrar of Companies (ROC) will check the e-forms and attached respective documents filed by the Company for Conversion of Private Company into One Person Company (OPC). On being satisfied that Company has prescribed requirements the Registrar of Companies (ROC) will give the Certificate with the impact of Conversion of Private Company into One Person Company (OPC).

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Frequently Asked Questions

A Digital Signature Certificate is a secure digital key that is issued by the certifying authorities for the purpose of validating and certifying the identity of the person holding this certificate. Digital Signatures make use of the public key encryptions to create the signatures.

Director Identification Number (DIN)/ Designated Partner Identification Number (DPIN) is a unique identification number given to an existing or a potential Director of any company which is incorporated. DIN came into existence after the insertion of the section 266A & 266B of the Companies Act, 1956 (as amended vide Act No 23 of 2006).

Memorandum of Association and Articles of Association of the Company. Rest of all the documents prepared by MyCompanywala Team and send to you for signing purposes only.

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