Conversion of OPC to private or public limited

OPC to private or public limited

 Voluntary ConversionCompulsory Conversion
1At least two years must have elapsed since incorporationShall have to mandatorily convert itself in case paid up capital exceeds Rs.50lakhs and average annual turnover of preceding three years exceeds Rs. 2 crores.
2Application in Form INC-6Notice of conversion in Form INC-5
3Shall have to increase the number of shareholder and director to the requisite limitsApplication in Form INC-6
4 Shall have to increase the number of shareholders and directors to the requisite limits.

PROCEDURE OF CONVERSION:

  1. Give notice to Directors along with the agenda and notes on agenda to convene the Board Meeting at least seven days before the date of the meeting in compliance with the Secretarial Standards I to consider the conversion.
  2. Convene Board Meeting for the following:
  3. Decide upon the day, time, date and place to convene extra ordinary general meeting (“EOGM”)
  4. Approval of draft notice to convene EOGM.
  5. Approve the draft memorandum of association
  6. Approve the draft articles of association.
  7. Vesting authority to ensure compliance.
  8. The resolution shall be communicated to the member and entered in the minutes book and signed and dated by the member and such date shall be deemed to be the date of the meeting for all the purposes in accordance with Section 122 of the Act.
  9. File Form MGT-14 within 30 days of passing the resolution.

Attachments:

  • CTC of Board Resolution authorization giving of notice
  • CTC of signed and dated minutes
  • Altered memorandum and articles of association of the Company
  • File Form INC-5 within sixty days of passing the resolution informing the Registrar. Note that this form is required to be filed only in case of compulsory conversion.

Attachments:

  • CTC of Board Resolution authorization giving of notice
  • Copy of duly attested latest financial statement
  • CTC of signed and dated minutes
  • File Form INC-6 within:

√ 6 months of mandatory conversion

√ 30 days of voluntarily conversion

Attachments:

  • Altered memorandum and articles of association of the Company
  • CTC of Board Resolution authorization giving of notice
  • Copy of duly attested latest financial statement
  • CTC of signed and dated minutes.

COSTING (in case the capital is Rs. 50 Lakhs)

1MGT-14500
2INC-5500
3INC-6500
  1500