In case paid up share capital of a One Person Company exceeds fifty lakh rupees or its average annual turnover during the relevant period exceeds two crore rupees, it shall make an application in Form INC-6 within 6 months from the effective date on which the above threshold limit was exceeded to convert into a private/public company. However if any One Person Company wants to convert itself into private/ public company voluntarily, then it can apply through Form INC-6 after two years of its incorporation. A private company can also make an application for conversion into One Person Company by filing Form INC-6.
Min. 10 days
1. Steps for increasing the number of members from 1 to 2 or 7 in case of private or public company respectively. 2. Preparation of notice, agenda and minutes of the Board and General meetings approving the Conversion of Company from Private to OPC or OPC to Private. 3. Drafting of altered MOA & AOA. 4. Preparation of Form MGT 14. 5. Preparation of Form INC 6. 6. Drafting of Public notice, if required intimating the members, others concerned about the conversion of company. 7. Drafting of letter intimating the conversion to Tax authorities, PF dept, other regulatory authorities, suppliers, customers, banks etc. 8. Arrangement for the new Common Seal. 9. Advise on other post conversion compliances.
1. For Form MGT 14: a. Certified true copy of the resolution passed by members. b. Altered copy of the MOA & AOA. 2. Form INC 6: a. Altered Memorandum of association. b. Altered Articles of association. c. Copy of the duly attested latest financial statement. d. Copy of board resolution authorizing giving of notice. 3. Conversion of Private to OPC: a. Affidavit. b. Certified Copy of minutes, list of creditors, list of members. c. Copy of NOC of all creditors. d. Consent of the nominee in Form INC 3. e. PAN of member or nominee. f. Proof of identity of the nominee and member. g. Residential proof of member and nominee.