a private company having paid up capital of 50 lakh or turnover upto 2 crore may convert itself into opc...
what if paid up is less than 50 lakh but turnover is beyond 2 crores , can a private company still convert itself into opc ?
Menu
conversation of private company into opc
Replies (2)
As per Rule 7 of the Act, in order to convert Pvt company to OPC, its paid up share capital should be 50 lakhs or less AND it's average annual turnover during the relevant period is 2 crores or less.
In the above provision, it is "AND" condition. Accordingly, to convert Pvt company to OPC, both the above conditions should be satisfied.
In the above provision, it is "AND" condition. Accordingly, to convert Pvt company to OPC, both the above conditions should be satisfied.
sir , thanks for your concern but is the word "AND" added to this as a replacement of "OR" in amendment ?
Recent Topic
- NRI JUST RETURNED TO INDIA BUT HAVING SOME MONTH O
- LTCG should i pay or amc pay?
- Delay Condonation Order Not Received
- Input on Property Dealer Commission paid
- Caliber Mining & Logistics IPO Allotment Date,
- Single form 121 for mutiple interest income from B
- Reabte 87A new regeim for FY 2025-26 (AY2026-27)
- OTP ENTERED BUT NOT PROCESS THE RETURN
- Form 16 Includes Salary Recovered Towards Notice P
- Altera INTC
Related Topics
CAclubindia
