Oeffentlicher Bereich » faces with storefront

An OPC or One Person Company Alex Rodriguez Youth Jersey , when reaches a certain threshold in annual turnover, can be mandatorily turned into a private limited company. However, this matter has a factor of luck involved. Therefore, through this article Mickey Mantle Youth Jersey , we shall tell you how to convert your OPC into a private or a public company in both a voluntary and a mandatory manner.
Types of conversion
There are two types of conversion when it comes to One Person Company. These are:
1. Voluntary Conversion: Where you voluntarily convert your company into a private limited company. The conditions for this conversion are:
a. The paid up share capital should be more than INR 50 Lakhs
b. The Annual turnover on an average should exceed INR 2 Crores.
c. The form to be filled here is INC 5
d. There should be 2 directors and 2 members at minimum
2. Mandatory Conversion: Where you need to upgrade your company when you cross a certain threshold. The conditions that makes it mandatory to convert the company are as follows:
a. The paid up share capital should be more than INR 50 Lakhs
b. The Annual turnover on an average should exceed INR 2 Crores.
The process of conversion
The process of conversion from OPC to private limited company is the following:
1. Tell the Registrar of companies that you want to convert: Use the method prescribed to tell the ROC that your intentions are to convert your OPC into a private limited company.

2. Pass the conversion in board resolution: Convene a general meeting with all the members and the directors and pass the directive that you need convert the OPC into a private limited company. Once the resolution passes, you are allowed to make necessary modifications in the MOA and the AOA.

3. Apply for conversion to the registrar of companies: File the application for company conversion and attach the newly modified and certified MOA and AOA with it. This process needs to take place within 15 days of passing the resolution from the board.
If the Registrar accepts the application, and there are no issues with it, your OPC shall be converted into a Private limited company without any issue.
The process of conversion from OPC to Public limited company
The process of conversion of an OPC into a public limited company is pretty much the same as above. However Babe Ruth Youth Jersey , there are key considerations that must be kept in mind:
1. OPC should be in function for atleast 2 years
2. 鈥減rivate鈥?has to be excluded from the name
3. Increasing the number of directors and members should be done as hte methods prescribed
4. The AoA should remove the restrictions that are applicable in a private company.
5. The company should not default when it comes to submitting financial statements for time.
6. The company should not default when it comes to submitting matured deposits or debentures on time.
Conclusion
While a One Person Company has its positive points, there are certain conditions that can lead you into modifying it into a private or a public company. The steps provided here are not to be conducted by a layman. Therefore, make sure that you have access to a Chartered Accountant or a Company Secretary to aid you through this process.
More About the Author

My name is Shreya Mittal. I am a commerce graduate turned into a literature buff. Currently i am working as a content designer with Registrationwala and exploring the legal aspects of business. Being a student with commerce background i posses鈥?deep interest and knowledge in Business laws and management related aspects. Through my well researched content i strive to keep the people updated about the legal aspects of their business.

Total Views: 7Word Count: 513See All articles From Author


Security is an essential thing in peoples’ life, especially who have valuable assets in their houses or at business places. When people feel that their properties and other valuable things are in a very secure position then only they have a sound sleep at night. Feeling secure gives a tension free life which is also help to live a healthy life. Persons who are engaged in business and who have stores Derek Jeter Youth Jersey , warehouses and office buildings are always bother about the security of the stores and office buildings because in stores there are goods which are voluminous as well as valuable and in office building there are many important documents. In case of security of stores, warehouses, shops and garage etc. one of the most important things is roll up gate. Roll up gate is a combination of strengths and security. When question of roll up gate arise the first and famous name which can be suggested is roll up gate NYC. They provide services like installation, repair and maintenance with their years of industry experience Aaron Judge Womens Jersey , skill and professionalism. Every problem which may be faces with storefront door or roll up gate can be solved by roll up gate Manhattan with best care. They provide these services both for motorized rolling gates and manual chain gates. Roll up gate provide security in bad weather condition ans unwanted entry. Roll up gates are mainly used in commercial purposes such as shopping mall, private office, business apartments, stores Dellin Betances Womens Jersey , warehouses etc, but they are also used in both interior and exterior parts of houses especially in garage.

Roll up gate Manhattan provides repair and installation services for all types of commercial electric gates, automatic gates, gate motors Aroldis Chapman Womens Jersey , gate openers, gate operators, telephone doorway systems, card reader Zach Britton Womens Jersey , keypads, code contacts, remote control, infrared beams C.C. Sabathia Womens Jersey , underground loop sensors and many more. For roll up gate repair purposes they have modern and well equipped vehicle which help them to repair and solve any problem on spot. The rolling gate shutters and grills provided by them are not easily removes. Accident and breakdowns can occ. Cheap Hoddies Wholesale Jerseys China Free Shipping Cheap Shirts Cheap Shirts Cheap NCAA Jerseys China Cheap Soccer Jerseys China Cheap NHL Hoddies Cheap NFL Hoddies Cheap Baseball Jerseys Cheap T-shirts China