Companies act opc
This query is : Resolved
SHIVAM JHUNJHUNWALA
(Querist)
20 April 2021
WHAT IF AN OPC HAS A TURNOVER OF MORE THAN 2 CRORE IN FIRST YEAR. WILL IT BE BOUND TO CONVERT COMPULSORILY AS CONDITIONS FOR COMPULSORY CONVERSION SAYS THAT IN ORDER TO COMPULSORY CONVERT AVERAGE TURNOVER OF IMMEDIATELY PRECCEDING 3 F.Y IS TO BE SEEN.. SINCE COMPANY EARNED MORE THAN 2CR IN FIRST YEAR...???
CA Puja Sharma
(Expert)
20 April 2021
In my opinion the company will not required to convert
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