The legal conversion of a Private Limited Company (with reduced shareholding) into a One Person Company when it qualifies under prescribed conditions.
Private companies that have been reduced to a single shareholder/director and want a simplified single-owner structure.
Ministry of Corporate Affairs (MCA), Companies Act 2013
Special/board resolution; NOC from existing shareholders; nominee consent (Form INC-3); altered MOA & AOA; latest financial statements confirming eligibility.
Paid-up capital and turnover must be within prescribed OPC limits at the time of conversion.
Only when it meets OPC eligibility criteria and follows the prescribed MCA procedure.