18 June 2014
PROCEDURES FOR CONVERSION OF PRIVATE COMPANY INTO OPC
Conversion of Private Company into One Person Company.
1) A private company other than a company registered under section 8 of the Act having paid up share capital of 50 lakhs rupees or less or average annual turnover during the relevant period is 2 crore rupees or less may convert itself into one person company by passing a special resolution in the general meeting.
2) No objection in writing from members and creditors is required before passing resolution.
3) A Copy of special resolution in form MGT.14 has to be filed with Registrar within 30 days of passing special resolution.
4) The company shall file an application to the Registrar along with the following documents:
i. The directors of the company shall give a declaration by way of affidavit duly sworn in confirming that all members and creditors of the company have given their consent for conversion, the paid up share capital company is 50 lakh rupees or less or average annual turnover is less than 2 crore rupees, as the case may be;
ii. The list of members and list of creditors;
iii. The latest Audited Balance Sheet and the Profit and Loss Account; and
iv. The copy of No Objection letter of secured creditors.
18 June 2014
Sir, Apart from above are the other formalities like Alteration in memorandum, alteration in articles, changing of name are applicable.If yes than please provide the detail formalities.
CAclubindia
