Private Limited To One Person Company

Transferring Authority. From Many To One.

     

    If you’re a Private Limited Company seeking to transfer the business into a One Person Company or OPC, there is a protocol that’s required to be followed for conversion. Since an OPC has only one member, the construction and structure of a Private Limited Company will undergo a change so as to transfer the shares to that one person.
    Employ our services to help you with the legality, paperwork, documentation and online conversion of a Private Company to an OPC in the easiest route; contact us today!

    Documentation Required

    • Notice of the EGM with a copy of the explanatory statement.
    • A certified true copy of the Special Resolution.
    • The Altered Memorandum of Association (MoA) and Articles of Association (AoA) of the Company.
    • A certified true copy of the Board Resolution.
    • The list of all members and creditors
    • The latest balance sheet of the Private Company
    • A copy of the No Objection Letter
    • A declaration of the Directors that all the creditors and shareholders have given their consent for the transfer of the said Private Company into an OPC, where the paid-up capital of the Company is Rupees 50 lakh or lower, and the turnover of the is lower than Rupees 2 Crores in the last 3 consecutive years.

    Procedure

    01
    Conduct board meeting for discussing the agenda items:

    • Approval of the Directors for the Transfer of the Private Company into OPC.
    • Fixing the date, place, time, and day of the Extraordinary General Meeting (EGM).
    • Approval of notice for the said EGM with its agenda and Explanatory Statement.
    • Authorizing any of the Directors to issue the approved notice of the said EGM.
    02
    Issue a notice of the said meeting at least 21 days days prior to the meeting to all members.
    03
    No Objection Certificate From Creditors and Shareholders for such transfer.
    04
    Conduct the EGM to check for quorum and the presence of the auditor.
    05
    File Form MGT14 within 30 days of passing the special resolution
    06
    File Form INC 6 within 15 days of passing the special resolution along with:

    • The Minutes of the general meetings, EGM or AGM, of members.
    • Certified copy of the special resolution.
    • Copy of the new MOA and AOA.
    • SRN of Form MGT-14 is required to fill in Form INC 6
    07
    File Form INC 6 within 15 days of passing the special resolution along with:

    • The Minutes of the general meetings, EGM or AGM, of members.
    • Certified copy of the special resolution.
    • Copy of the new MOA and AOA.
    • SRN of Form MGT-14 is required to fill in Form INC 6

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