OPC INTO PRIVATE LIMITED COMPANY
Need to convert from One Person Company To Private Company?
One Person Company To Private Company Conversion Starting at Just Rs.12,499/- (Inclusive of all Govt. Fees).
PROCESS FOR CONVERSION OF OPC INTO PRIVATE LIMITED COMPANY
The Introduction of One Person Company into the legal system is a move that would encourage the entrepreneurs enters into corporate world. This will not only enable individual capabilities to contribute economic growth, but also generate employment opportunity. OPC of sole-proprietor and company form of business has been provided with concessional /relaxed requirements under the Companies Act, 2013.
The concept of OPC is still in its nascent stages in India and would require some more time to mature and to be fully accepted by the business world. With passage of time, the OPC mode of business organization is all set to become the most preferred form of business organization especially for small entrepreneurs.
One most important feature of OPC is that the risks mitigated are limited to the extent of the value of shares held by such person in the company.
Success is focusing the full power of all you are on what you have a burning desire to achieve.
Steps to be taken for conversion of One Person Company
A One Person Company can be converted into a Private Limited Company both voluntarily before meeting any of the above criteria or mandatorily after meeting the above mentioned criteria. In case a One Person Company does not take steps for conversion when it is mandatorily required within the prescribed time, the One Person Company or any Officer of the One Person Company shall be punishable with a fine which may extend to rupees five thousand and with a further fine which may extend to rupees five hundred for every day after the first day during which such inaction continues.
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