REQUIREMENTS FOR CONVERSION

1. Proper preparation of books of accounts as per the provisions of Companies Act, 2013.
2. Filing of all the returns as per the ROC and fulfilling all the compliances.
3. The company should have fulfilled all the compliances as per the Income tax Act,1961 and GST Act.
4. Before conversion the following points should be kept in mind:

1. The Capital of the company should be less than 50 Lakhs.
2. Annual Turnover should be less than 2 crores in last 3 consecutive financial years.
3. The OPC formed after such conversion shall be owned by an Indian National.
4. The owner of the newly formed OPC should be staying in India for at least 180 days in a calendar year.
5. The owner of the resulting OPC should not own any other OPC.
6. A minor cannot be a member or owner of a OPC.

PROCESS OF CONVERSION OF PLC TO OPC

STEP 1: EGM (Extra Ordinary Meeting) to be conducted and special resolution shall be       passed to give effect to conversion of a private limited company to one person-company.

STEP 2: Notice giving effect to the EGM to all the stakeholders of the organisation.

STEP 3: Before the conducting of EGM an NOC must be obtained from all the creditors of the company.

STEP 4: EGM so conducted shall pass the altered MOA & AOA

STEP 5: The Resolution shall be filed with ROC in FORM MGT-14

STEP 6: Issue of certificate of conversion from ROC. (PLC TO OPC)

That is so OVERWHELMING!!! Isn’t it? Let our experts do it for you Click HERE for more!!

WHY US?

We at Best Legal Services are group of experienced individuals who deal in various Complex legal issues and our experts can help you help to convert a Private Limited Company to One Person Company.