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

OPC Seeks Conversion to Private Company Without Exceeding Rule 6(1) Limits; Respondent Suggests Raising Capital for Facilitation An OPC, incorporated six months ago, seeks to convert into a private company. It does not exceed the paid-up capital or turnover limits set by Rule 6(1) of the Companies Incorporation Rules, 2014. A respondent suggests raising the capital to facilitate conversion, as there is no minimum capital requirement for a private company under the rules.