Conversion of Private Company Into OPC
Private Company
As per the provisions of Section 2(68) of the Companies Act 2013 Private Company means a company having a minimum paid-up share capital as may be prescribed, and which by its articles,—
(i) restricts the right to transfer its shares;
(ii) except in case of One Person Company, limits the number of its members to two hundred:
Provided that where two or more persons hold one or more shares in a company jointly, they shall, for the purposes of this clause, be treated as a single member: Provided further that—
a. persons who are in the employment of the company; and
b. persons who, having been formerly in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased, shall not be included in the number of members; and
c. prohibits any invitation to the public to subscribe for any securities of the company
One Person Company (OPC)
As per the provisions of Section 2(68) of the Companies Act 2013 One Person Company means a company having one person as to its member. One person company does not need to hold an annual general meeting and does not need to comply with many other legal requirements which are mandatory for Private Limited Company.
Process of Converting a Company to OPC
Hold Board Meeting
The notice for holding the board meeting should be sent to the directors at least seven days before the board meeting date. The board meeting agenda should be stated in the notice.
Hold Extraordinary General Meeting (EGM)
A notice for the Extraordinary General Meeting (EGM) should be sent to all the company’s directors, members, and auditors. The notice for EGM must be sent at least 21 days before the date of the EGM. Pass a special resolution to get shareholders’ approval for converting a private limited company into One Person Company (OPC) and get the approval for the altered MOA (Memorandum of Association) and AOA (Articles of association).
No Objection Certificate (NOC) from Creditors
Before passing the Special Resolution in the EGM, the Company should get a No Objection Certificate (NOC) from the existing shareholders and creditors. The No objection Certificate (NOC) should be in writing.
Filing of Forms to ROC
The company is required to file certain e-forms with the Registrar of Companies (ROC) for conversion of a private company into One Person Company (OPC), which are as follows:
- Form MGT-14 - After passing of the Special Resolution in EGM, Form MGT-14 should be filed with the ROC. The Form MGT-14 should be filed with ROC within 30 days of passing of the Special Resolution.
- Form INC-6 - The application for the Conversion of Private Company into OPC should be filed to the ROC.
Issue of Certificate
The ROC will verify the submitted e-forms filed by the private company for converting into OPC. When the ROC is satisfied that the private limited company has complied with the requirements, he/she will issue a certificate for the conversion of the private company into OPC.
How S.K. Agrawal & Co. Helps in Conversion of Company into OPC?
With S.K. Agrawal & Co., you can convert your Company into OPC seamlessly. You can convert your Company in just 4 simple steps:
Step 1: Confirmation Mail Acceptance of our Proposal
Send confirmation mail at our email id regarding acceptance of our Proposal for Conversion of Company into OPC. You can request a callback or directly call to our expert on phone number provided at our website. Our experts will contact you and clear all your queries.
Step 2: Send the Documents on our Email Id
Send below-mentioned documents on our email Id to convert your Company:
- Passport size photos of directors
- PAN Card or Passport in case of NRIs and Foreign National
- Address proof of directors
- Specimen signature
- Self-declaration about your directorship in other Companies/LLP
- Rent agreement of your registered office
- No objection certificate from the owner of the property of the property
- Any other document/information required for conversion
The Conversion of OPC from S.K. Agrawal & Co. is completely online and thus, you can save time and money as you need not have to visit our office. If you want to visit to our office you are most welcome.
Step 3: Document Verification by our Expert Team and Signature of Documents
Our expert team will verify the documents uploaded by you. You will need to attest your signature on the documents.
Step 4: Our Experts Team will File Forms on the MCA portal to convert your Company into OPC
Our experts team will file the below e-forms on behalf of you on the MCA portal.
After the company forms are filed on the MCA portal, the Registrar of Companies (ROC) and the respective departments will verify the forms submitted by our expert team. The verification process takes around 5-7 days (subject to departmental approval and reverts from the respective departments).
Our expert team will follow up with the respective authorities till you receive the Fresh Certificate of Incorporation. After the verification process is complete, you will receive the Fresh Certificate of Incorporation in about 5-7 days.
Service Area
We provide strategic and qualitative advisory services to all our clients from domestic to international organizations, small, medium and large sized enterprises, assisting them with their incorporation and quality management services so they can establish their business successfully globally. To help them deal with their tax issues, financial and legal requirements we provide all support for post incorporation services, so they are able to run their business seamlessly. We are based at New Delhi and Faridabad, but our wings are spread to serve clients across the globe. Customer Satisfaction, Quality of Service and our Turnaround time are the drivers of our enthusiasm and success. We are continuously serving our client at Faridabad, Delhi, Gurgaon (Gurugram), Noida (Gautam Budh Nagar), Sonipat, Panipat, Palwal, Jind, Karnal, Meerut, Kolkata, Mumbai (Bombay), Pune, Bangalore, Nasik, Aurangabad, Nagpur, Ludhiana, Amritsar, Mohali, Hyderabad, Kanpur, Agra ,Rudrapur, Haridwar, Jamshedpur, and many other Industrial Areas.