Rule 7 - Conversion of private company into One Person Company. - Companies (Incorporation) Rules, 2014.

7. Conversion of private company into One Person Company.- (1) A private company other than a company registered under section 8 of the Act 2 [ **** ] 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 [ (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. ] 5 [ (5) On being satisfied that the requirements stated herein have been complied with, the Registrar after examining the latest audited financial statement shall approve the form and issue certificate. ] -------------------- Notes:- 1. Substituted vide F. No. 01/13/2013 CL-V (Part-I) - Dated 1-5-2015 , before it was read as, having paid up share capital of fifty lakhs rupees or less or average annual turnover 2. Omitted vide Notification No. G.S.R. 91(E) dated 01-02-2021 w.e.f. 01-04-2021 before it was read as 1 [having paid up share capital of fifty lakhs rupees or less and average annual turnover during the relevant period ] during the relevant period is two crore rupees or less 3. Omitted vide Notification No. G.S.R. 91(E) dated 01-02-2021 w.e.f. 01-04-2021 before it was read as , 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 4. Substituted vide NOTIFICATION NO. G.S.R. 42(E) dated 19-01-2023 before it was read as, (4) The company shall file an application in Form No.INC.6 for its conversion into One Person Company along 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 [ **** ] ; (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. Substituted vide NOTIFICATION NO. G.S.R. 42(E) dated 19-01-2023 before it was read as, (5) On being satisfied and complied with requirements stated herein the Registrar shall issue the Certificate.