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| Pvt Ltd into OPC |
OPC or One-person
company is a rather new and highly popular form of business. This form is duly
recognized by the Companies Act, 2013. As the name suggests, this type of
business is owned by one person in comparison to the private limited company
which requires a minimum of 2-3 stakeholders. The system of OPC is quite
simpler and is beneficial for small businesses. Some of the key highlighted
features of OPC are:
- Limited Liability
- Legal Status
- Corporate Identity
- Quick Decision Making
- Flexible in Management
- Effortless bank operation
- Lowered taxation burdens
The
steps are mentioned below:
- The company is required to obtain a NO objection in writing from the existing members and creditors, when the special resolution is passed in the general meeting.
- This special resolution passed in the general meeting has to be filed with the concerned Registrar of Companies.
- A file form MGT.14 has to be filed within 30 days of passing the resolution, along with the relevant documents attached to it.
- The concerned registrar of companies would go through the form and the attached documents by the company for conversion of Private Company into One Person Company (OPC). After a complete inspection, the ROC issues a certificate to bring the process to effect.
Email: Contact@Company-Registration.in
Call/Whatsapp: 8800100284
Website:www(dot)company-registration(dot)in
Address:S-191C, Manak Complex, School Block, Shakarpur
New Delhi, Delhi 110092