Conversion of private company into One Person Company
(1)
A private company other than a company registered under section 8 of the Act having paid up share capital of fifty lakhs rupees or less or and average annual turnover during the relevant period having paid up share capital of fifty lakhs rupees or less and average annual turnover, during the relevant period is two crore rupees or less may convert itself into one person company by passing a special resolution in the general meeting.
(2)
Before passing such resolution, the company shall obtain No objection in writing from members and creditors. (3) The one person company shall file copy of the special resolution with the Registrar of Companies within thirty days from the date of passing such resolution in Form No. MGT.14.
(4)
The company shall file an application in e-Form No. INC-6 for its conversion into One Person Company alongwith fees as provided in the Companies (Registration Offices and Fees) Rules, 2014 by attaching the following details or documents, namely :-
(i)
altered e-MOA and e-AOA;
(ii)
copy of NOC of every creditors with the application for conversion;
(iii)
affidavit of directors confirming that all the members of the company have given their consent for conversion.