Voluntary conversion of OPC into Private company

[Amar Kumar]

Hello members,

An OPC (incorporated six months ago) wants to convert itself into private company.

Neither the paid-up capital nor the turnover as prescribed under Rule 6(1) of the Companies Incorporation Rules, 2014 is exceeding.

Can it voluntarily convert itself?

Thanks.

[DR.MARIAPPAN GOVINDARAJAN]

In my opinion you may raise the capital and converted into private company since the limit is prescribed under Rule 6(1) even though there is no limit prescribed for minimum capital for private company.

AI Summary

Voluntary conversion of one person company requires raising capital to meet regulatory thresholds and become a private company. An OPC can convert into a private company by increasing its paid-up capital to meet the prescribed thresholds for conversion under the incorporation rules, since no separate minimum paid-up capital is required specifically for a private company.