Company Conversion

Conversion of Pvt Ltd Company to Public Ltd

OVERVIEW:

Companies Act, 2013 allows conversions of companies from one form to other. A company or LLP can be converted from one type to another. Conversion of Private Limited Company into Public Limited Company. A company already registered in a class may convert itself as a company of another class by alteration of memorandum and articles of the company. An application in this regard is required to be made to Registrar.

PROCEDURE:

1. Board Meeting to convene EGM
2. Issue of EGM Notice
3. Holding EGM
4. ROC Form filing

DOCUMENTS REQUIRED:

Board Resolution to Convene EGM
EGM Notice and Explanatory Statement
Special Resolution approval for Conversion

Process will be completed once the company received new incorporation certificate.

Conversion of OPC to Pvt Ltd or LLP

OVERVIEW:

Converting One Person Company to a Private Company can open avenues to pursue additional benefits such as fund raising. An OPC can voluntarily convert itself only after 2 years of its incorporation. The application of conversion is made to Central Government after alternation of MoA and AoA of the OPC. The legal existence of the company continues even after the conversion and so do their rights and liabilities. With its conversion into Private Company, minimum 2 shareholders and directors must be appointed to fulfil the minimum requirement.
No OPC can convert voluntarily into a private company unless two years is expired from the date of incorporation.

PROCEDURE:

1. NOC from the company in written
2. Pass a resolution for conversion of OPC to Private limited company.

DOCUMENTS REQUIRED:

● Altered Memorandum of Association
● Altered Articles of Association
● Copy of latest audited balance sheet and Loss Account
● Copy of board resolution authorising giving notices to creditors
● List of creditors; and
● Copy of No Objection letter from secured creditors.

Process will be completed once the company received new incorporation certificate.