OPC Registration and its Automatic Conversion:

After successful OPC Registration there is certain condition associated with OPC itself will be converted into other form of Company such as Public limited company registration or private limited company registration. Company Registration consultant should make aware of consequences of OPC formation and high turnover or raise in share capital subsequent to OPC incorporation will lead to automatic conversion into private or public limited company. Some of such condition is as follows:-

• If paid up share capital of a One Person Company exceeds Rs. 50 lakh or its average annual turnover during the financial year exceeds Rs. 2 Crore then it shall automatically cease to be entitled to continue as OPC.

• One Person Company shall mandatory require to convert itself into Private or public limited company within 6 months from the date on which its paid up share capital increased in excess of Rs. 50 lakh or the last day of the relevant Financial period during which its average annual turnover get exceeds Rs. 2 crore, as the case may be. And accordingly there required to follow rules and regulation applicable for Private limited registration or public limited company incorporation.

• The OPC shall alter its MOA & AOA by passing a resolution in accordance with provision applicable to give effect the necessary changes.

• The One Person Company shall compulsorily within period of 60 days from give a notice to the ROC in Form No. INC - 5

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