Investigate your financing possibilities to expand your company from OPC to Pvt. Ltd.
*Subject To Change On Market Conditions
A One Person Company (OPC) may voluntarily or involuntarily transform into a Private Limited Company under legal circumstances. One Person Company’s (OPC) current debts, liabilities, contracts, or commitments won’t be impacted by its conversion to a Private Limited Company; instead, they will be automatically discharged by the new Private Limited Company.
In all scenarios, the One Person Company (OPC) must pass the necessary resolution to change its memorandum of association (MOA) and articles of association (AOA), as well as have the necessary minimum paid-up share capital and number of members and directors.
The One Person Company’s sole director must adopt a resolution notifying the registrar of the conversion and calling a public meeting.
The company must submit an EFORM INC-5 notice of conversion to the registrar together with any necessary supporting documentation.
To give effect to this conversion, the One Person Company must hold a general meeting and adopt a special resolution for Alteration of Memorandum and Articles of Association.
The OPC shall file copy of the special resolution passed at the general mffting with the Registrar of Companies within thirty days from the date of passing such resolution in E-FORM MGT-14.
The certificate for the conversion of a one-person company into a private limited company is issued by the Registrar whenever he or she is satisfied that the company has complied with all applicable requirements.