One Person Company conversion into company
companies act 2013 notes A One Person Company converts itself into a Private Limited Company under two situations:
Voluntary conversion of OPC to Private Limited.
Compulsory Conversion of OPC to Private Limited.
VOLUNTARY CONVERSION OF ONE PERSON COMPANY TO PRIVATE LIMITED COMPANY: When a One Person Company gets incorporated, it cannot convert itself to Private or Public company for a period of not less than two years from the date of incorporation. If the time period has elapsed and two years time period is over, a One Person Company can apply for converting itself to Private Limited Company or Public limited company. The Conversion process should be done as per the rules and regulations laid down by the Companies Act, 2013 under Section 18, and Rule 7(4) of the Companies (Incorporation) Rules, 2014
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