ONE PERSON TO PRIVATE LTD AND PUBLIC LTD

INR 14,999

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PRIVATE LIMITED COMPANY TO ONE PERSON COMPANY

INR 14,999
Per Class
  • Private Limited Company To One Person Company
  • Conversion filing
  • Conversion update

ONE PERSON TO PRIVATE LIMITED AND PUBLIC LIMITED

INR 14,999
Per Class
  • one person to private limited and public limited
  • conversion Filing
  • conversion Update

PUBLIC TO PRIVATE LIMITED

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

What is One Person Company (OPC)?

Section 2(62) of Companies Act defines a one-person company as a company that has only one person as to its member. Furthermore, members of a company are nothing but subscribers to its memorandum of association, or its shareholders. So, an OPC is effectively a company that has only one shareholder as its member.


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 Public Limited?

A public company is a corporation whose ownership is distributed amongst general public shareholders via the free trade of shares of stock on exchanges or over-the-counter markets. Although a small percentage of shares are initially floated to the public, daily trading in the market determines the value of the entire company.


Conditions , Mandatory Conversion And Voluntary

Conversion

Mandatory Conversion

The conversion of One Person Company to Private Limited Company becomes mandatory in following situations
• The paid capital of OPC exceeds INR.50 lakhs, Average annual turnover during the period of three consecutive financial years exceeding INR2 crores.
The following documents are required for the conversion.
1. E-Form INC 5 – Copy of the Resolution is needed to be filed with Registrar of Companies with the following attachments:
• Board Resolution, Balance sheet(Latest), Certificate from a Chartered Accountant for calculation of average turnover during the relevant period
2. E-Form INC 6 – Application for the conversion of Private Limited Company to One Person Company with the following necessary attachments:
• List of all members, List of all creditors, Latest Balance sheet, Letter of ‘No Objection’ from members, Letter of ‘No Objection’ from creditors, Letter of Consent from the Directors by way of affidavit

Voluntary Conversion

The conversion of One Person Company to Private Limited Company can be voluntarily done when the One Person Company completes two years from the date of incorporation.
The following documents are then required for the conversion.
1. E-Form MGT 14 – Copy of the Special Resolution is needed to be filed with Registrar of Companies with the following attachments:
• Notice of Extra General Meeting (EGM), Certified true copy of Special Resolution, Altered Memorandum of Association(MoA), Altered Articles of Association(AoA) 2. E-Form INC 6 – Application for the conversion of Private Limited Company to One Person Company with the following necessary attachments: • List of all members, List of all creditors, Latest balance sheet, Letter of ‘No Objection’ from members, Letter of ‘No Objection’ from creditors, Letter of Consent from the Directors by way of affidavit

Conditions For Change

• One person company cannot continue as a one person company:- when its paid up share capital exceeds fifty lakh rupees and its average annual turnover during the relevant period exceeds two crore rupees, and is required within a period of six months to convert itself into public or private limited company. However, One person company cannot continue as a one person company when its paid up share capital exceeds fifty lakh rupees and its average annual turnover during the relevant period exceeds two crore rupees, and is required within a period of six months to convert itself into public or private limited company. • Increase the number of members and directors so as to minimum 7 members and 3 directors. (for public limited company).

Procedure for Conversion of OPC to Public Limited & Private Limited

Prepare notice of board meeting along with draft resolution(s) to be passed in the board meeting.

File e-Form DIR-12 along with its attachment with the Registrar of Companies within 30 days of appointment of new directors.

File an application to the Registrar of Companies in e-Form INC-5, within a period of 60 days from the last date of applicability, along with attachments informing about it has cessation as a one person company which is now required to convert itself into a private limited company or a public limited company.

File an application for conversion of one Person Company into public limited company or private limited company in e-Form INC-6 with the Registrar of Companies along with the attachments within 30 days from the date of passing of resolution of such conversion.

In case of voluntary conversion, file e-Form MGT-14 along with attachments with the Registrar of Companies within 30 days of passing of resolution.

The Registrar of Companies will issue fresh Certificate of Incorporation in Form INC-25 with new name.

Arrange new Permanent Account Number card with new name of the company and Update company’s bank account and Intimate all the concerned authorities like tax, state government, etc. about the status change


Any Question?
Call us on +91-77038-33927


 

Documents Required Conversion from One Person Company to Private Limited & Public Limited


 

An application in this regard is required to be made to Registrar. The Registrar after being satisfied that all provisions have been complied with, shall close the former registration of the company. After registering the documents relating to conversion, the Registrar shall issue a certificate of incorporation. The conversion of a company shall not affect any debt, liabilities and obligations. Such debt, liabilities, obligation and contracts may be enforced as if there is no such conversion.

Frequently Asked Questions

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.

One person company cannot continue as a one person company:- when its paid up share capital exceeds fifty lakh rupees and its average annual turnover during the relevant period exceeds two crore rupees, and is required within a period of six months to convert itself into public or private limited company. However, One person company cannot continue as a one person company when its paid up share capital exceeds fifty lakh rupees and its average annual turnover during the relevant period exceeds two crore rupees, and is required within a period of six months to convert itself into public or private limited company

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