Description
For converting an OPC to a private limited company, there should be at least 2 members and 2 directors. Furthermore, a board resolution should be passed for approving the alteration of the Memorandum of Association (MOA) and Articles of Association (AOA) of the OPC.
Can a private company be converted into one person company?
To being the process of converting a private limited company into a OPC, a Board Meeting must be conducted to get in-principal approval of the Directors and fix date, time and place for conducting Extra-Ordinary General Meeting (EGM) to obtain the approval of the shareholders of the private limited company by means of …
The following are the conditions for Conversion of Private Company into OPC:Â The paid-up share capital of Company is less than 50 lakh Rupees. In the past 3 consecutive years, the annual turnover of the Company should not be less than 2 crores Rupees. The Shareholder of the new OPC should have Indian nationality.
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