(1) A private company other than a company registered under section 8 of the Act 2[Omitted] 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 Form No.INC.6 for its conversion into One Person Companyalong with fees as provided in in the Companies (Registration offices and fees) Rules, 2014,by attaching the following documents, namely:-
(i) The directors of the company shall give a declaration by way of affidavit duly sworn in confirming that all members and creditors of the company have given their consent for conversion, 3[Omitted]
(ii) the list of members and list of creditors;
(iii) the latest Audited Balance Sheet and the Profit and Loss Account; and
(iv) the copy of No Objection letter of secured creditors.
(5) On being satisfied and complied with requirements stated herein the Registrar shall issue the Certificate.
Amendment
1. Substituted by Notification Companies (Incorporation) Amendment Rules, 2015 Dated 1st May, 2015.
In sub-rule (1), For the words “having paid up share capital of fifty lakhs rupees or less or average annual turnover during the relevant period is” the words “having paid up share capital of fifty lakhs rupees or less and average annual turnover during the relevant period” shall be substituted.
2. Omitted by the Companies (Incorporation) Second Amendment Rules,2021 Amendment Effective From 1st April 2021 Original Omitted Content:
1[“having paid up share capital of fifty lakhs rupees or less and average annual turnover during the relevant period”] two crore rupees or less
3. Omitted by the Companies (Incorporation) Second Amendment Rules,2021 Amendment Effective From 1st April 2021 Original Omitted Content:
the paid up share capital company is fifty lakhs rupees or less or average annual turnover is less than two crores rupees, as the case may be;