Conversion of private company into one person company

    - Get conversion of private company to opc at just @ 11,999/-
    - Suitable for Small Scale Business
    - Hassle free, conversion process provided by Professionals
    - Get the work done in 20-25 working days.

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Conversion of private company into one person company

A private limited company is formed by two or more persons to run a business, but what if the other person has left the business or the business is not running the way it should have been then it can also be converted into a one Person Company. Conversion of private limited into one person company procedure is provided under companies act, 2013 and rules thereof, and is subject to approval of the ROC. One person company enjoys several exemptions under the act and can be easily managed as compared to a private limited company. Conversion of private company into opc can be done of private company having capital less than 50 lacs or having average turnover 2Cr. Private limited to Opc can be done by passing a special resolution in the existing private company along with NOC from all the existing members and creditors of the company. On satisfaction, the ROC will grant the fresh certificate of incorporation, the PAN and bank account details needed to be updated accordingly after receiving the approval. At Unilex Consultants we provide you a hassle free conversion of private company into opc which would be dealt by our professionals within time frame. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

Advantages of conversion of private company into opc

1

Lesser compliances as compared to private company.

2

Lesser interference of stakeholders.

3

Smooth operations of the company.

4

Various exemptions under companies act 2013 for private companies.

Documentation for conversion of private company into opc

Latest financial statements

MOA and AOA

List and affidavit from creditors

Affidavits from Directors

Various signed resolutions

Declaration from Directors for turnover and capital limit.

Process involved in registering a Conversion of private company into one person company

1

Preparing Board meeting and EGM documents.

2

Drafting notices and resolutions.

3

Alteration of MOA & AOA.

4

Filing MGT-14 form to ROC.

5

Filing form INC-6 with the ROC.

6

New certificate of incorporation given by ROC on satisfaction.

Unique Features of conversion of private company into opc

    - One of the co-founder or promoter left the private company, due to which it has to be compulsorily converted.
    - Various exemptions provided to one person companies under companies act 2013.
    - Lesser compliances under various acts, thus resulting in less yearly recurring cost.
    - Promoter wants complete control of the business and profit sharing.

FAQs About conversion of private company into opc

How much time conversion of private company to OPC takes?
As it is a very cumbersome process, it usually takes approx. 20-25 days to get the approval from the authority.
Does advertisement in conversion is necessary?
No, there is no requirement of advertisement in private company to OPC conversion.
Minimal Capital involved in registering a one person company?
There is no Set capital required as mentioned by 2013 governmental laws, if there is a additional capital involved we can sort it out via additional stamp duty.
What are benefits of choosing OPC registration?
They are a single entity model where only one person can be the sole shareholder. Represents the best of both worlds Sole proprietorship and Private limited company It offers limited liability of the shares for the person who incorporated the company. As there is only one person involved in the actual incorporation of the company, the person must be an Indian Residing Citizen in order to establish his or her business as an One Person Company. There is no rule where the minimum capital are defined. Audit it not mandatory in an OPC registered Firm.
Can ROC disallow the private company to OPC conversion?
Yes, it is the discretion of the ROC whether to allow or disallow the conversion. If unsatisfied with the documentations involved then application could also be rejected.

Why choose Unilex?

Well with highly qualified professionals in our team along with the technology gives edge over others, as a result highly rated professional services with full customer satisfaction is assured. We help to grow and manage your business letting you to concentrate on your business.

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