By convert a private limited company to a One Person company, you can roll back the ownership of your company that you gave up!
Introduction
In India, the share transferability of a private limited company is limited to 50 shareholders, and they are restricted from freely trading their shares with the general public. However, a One Person Company is run by a sole owner, with the added benefit of limited liability to the said owner and other shareholders. Sign up for our Conversion from Private to One Person Company Service today, so that your company can shed the restrictive cocoons of Private Company regulations and emerge as a new One Person Company. With our team working for you, you can focus on the impending transition, and acquiring funding for the same. Sign up today!
The distinction between Private and One Person Companies
One Person Companies exist as a halfway point between Sole Proprietorships and Private Limited Companies.
| Private Limited Company | One Person Company |
| Minimum members-2 | Minimum members-1 |
| Minimum Directors-2 | Minimum Directors-1 |
| No requirement of appointing a nominee | A nominee must be appointed where there is only one member |
| Foreigners may become members of a Private Limited Company | No Foreigners may become members of One Person Companies |
Required Documents For Convert Private LTD To One Person Company
The documents required in order to effect a change from a Private to a Public Company are –
Altered memorandum and articles of association.
Notice of Extra-Ordinary General Meeting (EGM) with the approval of Directors for the conversion of a Private Limited Company to One Person Company.
Special resolution for conversion of the company into a One Person Company.
Form MGT 14.
Form INC 6 – Application for the conversion of Private Limited to One Person Company.
Minutes of the Meeting where approval was given for conversion.
List of Members and Creditors.
NOC from Members and Creditors.
Affidavit by Directors.
Latest Audited B/S and P&L a/c.
Sign up for our service today, so that our experts can provide you with a complete list of all necessary documentation, and process your application for you!
