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Conversion of OPC into Private Limited
All you know about Conversion of OPC into Private Limited
An OPC can be
converted into private limited Company when the paid up share capital of an One
Person Company exceeds 50 Lakhs or its average annual turnover during the
relevant period exceeds 2 crore rupees. Such One Person Company shall be
required to convert itself, within six months of the date on which its paid up
share capital is increased beyond 50 lakhs rupees or the last day of the
relevant period during which its average annual turnover exceeds 2 crore rupees
as the case may be, with minimum of two members and two directors.
"Relevant
period" means the period of immediately preceding three consecutive
financial years.
The One Person
Company shall within period of sixty days from the date of applicability give a
notice to the Registrar in Form No.INC.5 having exceeded the threshold limit.