Convert your one person company to private limited company online by professional CA/CS
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One Person Company (OPC) has some limitations compared to private limited companies. If you plan to convert your OPC to Pvt. Ltd Company (PLC) for better opportunities and facilities, you can apply for the conversion according to the Companies Act, 2013, and the provision of the Companies Incorporation Act, 2014 (Section-18), you can convert your One Person Company to Private Limited Company. The conversion of OPC to a PLC or private limited company will not affect the existing liabilities and debts, obligations, or contracts with other companies of the existing one-person company. The company will turn into a private limited company with all its responsibilities.
An OPC can be converted into a private limited company by passing a special resolution in the Board Meeting. The minimum number of directors of the company must be increased to two. The creditors also have to provide an NOC (No Objection Certificate) in a documented form. After following some other rules, an OPC can be converted to a private limited company.
There are two distinctive ways through which an OPC can be converted into Pvt. Ltd. Company. They are:
1. Voluntary conversion
2. Compulsory conversion
A voluntary conversion to a private limited company is not permitted before the completion of 2 years as One Person Company from the day of incorporation. The next term for voluntary conversion is financial turnover. If the One Person Company’s paid-up share is more than Rs. 50 lakhs or the annual turnover is Rs 2 crores, the company will automatically turn into a voluntary Pvt Ltd Company within 2 months. Once the company fills up the mentioned criteria and converts into a private limited company, The OPC authority needs to inform the ROC (Register of Companies) through the form INC-5 within the next 60 days of voluntary conversion.
If the circumstances of the OPC are like the following, the authority can convert it to Pvt. Ltd. Company.
1. The paid-up share capital crosses the capital of Rs 50 lakhs
2. The average turnover of the last 3 years of consecutive financial years exceeds more than 2 crores.
When these two terms are fulfilled, the company authority can apply for the private limited company conversion in the next 6 months.
The mandatory requirements for One Person Company to Private Limited Company are as follows:
The Memorandum of Association (MoA) and the Article of Association (AoA) of one Person Company have to be altered to the following section of 122(3) of the Companies Act, 2013. These changes must be conducted and implemented during the process of company conversion under Section 18/1 of the Companies Act and the rule of 6(1) of the Company Incorporation Rule of 2014.
While converting OPC to Pvt. Ltd. Company or a Public Limited Company (as the case may be), you must adhere to the minimum requirements of the conversion in rule 6(2) of the Company Incorporation Rule, 2014.
The conversion of OPC to Pvt. Ltd. Company must follow the rules of section 18 of the Companies Act 2013. Then, your company will provide relevant legal requirements for fulfilling the compliance of a Pvt. Ltd. company.
Within 15 days of the Board Meeting, prepare the Draft Minute, and circulate them to all the selected directors to get their comments. You can send it through Speed Post, Hand, Regular Post, Courier, or E-mail. Mention the detailed guidelines on preparing and signing up for the communities of the Board Meeting.
According to the Companies Information Rules, 2014, 6(1), the alteration of the MoA, and AoA of one person or company should be done by passing a resolution that companies the rules of section 122 (3) of the Companies Act, 2013. This compliance makes it easy to convert OPC to Pvt. Ltd. Company.
As a Pvt Ltd company requires at least 2 directors, you have to appoint directors to convert the OPC Company to a private limited company.
Shareholder approval is also essential while planning for OPC to private limited company conversion according to the Companies Act 2013. Written approval is required.
Once all the mentioned processes and steps are completed, you need to file an application to the concerned ROC along with the following documents:
Are you feeling complicated? Don’t worry, Online Legal India is here with you to make the entire job easy. Contact us now.
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Past Experiences
‘Kahin par pohochne ke liye, kahin se nikalna bohot zaroori hota hai’
- Yeh Jawani Hain Deewani
- Rajesh Kewat
We all know today’s world is totally running on online technology, to utilize this online platform and preventing people from moving pillar to post that small town entrepreneur came up with an one stop solution for providing all sort of legal and professional services at their doorstep in the name of FastInfo Legal Services Pvt. Ltd.
We all know today’s world is totally running on online technology, to utilize this online platform and preventing people from moving pillar to post that small town entrepreneur came up with an one stop solution for providing all sort of legal and professional services at their doorstep in the name of FastInfo Legal Services Pvt. Ltd.
A small town boy with a dream in his eyes to reach the sky. Mr Rajesh Kewat who is the Managing Director and Founder of one of the Leading Online Business Sector “FastInfo”.
He believed positive motivation & inspiration are the hallmark of success for the entrepreneur from a small town, there may not be availability of proper resources but will power and confident is a gentle way to achieve the success.
Under the brand name of Online Legal India which is basically focused on fighting against online fraud and providing professional services for business compliances. Online Legal India became one of the India’s leading online companies and within a short period of time it grabbed customer’s heart. Online Legal India basically dealing with consultation services on Legal matters, GST filing and Registration, TAX compliance,
IEC Registration, FSSAI Registration, Company Registration, Trademark Registration, Consumer Complaint and many more.
When Online Legal India was flourishing at a higher range, and reaching out the customers for the legal and business compliance with a high outcome, FastInfo had decided to come up with an E- Learning platform to serve the students in both urban and rural areas. He realized there are many students in the rural areas who are lacking in the education due to the lack of proper infrastructure& there are large number of students from distance education or open universities who are not getting enough help from anywhere.
Mr Rajesh Kewat(Founder) who was associated with one of the leading education sector OXFORD for a long time decided to come up with an idea of enhancing his skill in the education sector. Therefore, he came up with an idea of launching an Online Educational Platform and making it accessible throughout the nation which enables LIVE interactive classes between a teacher and a student. He named the same as “FastInfo Class”, this is the online platform to provide education to the students and at the same time providing quality guidance. FastInfo Class provide the online tuition to IGNOU & NIOS bachelors and masters’ student, students appearing for Competitive Examslike Banking Exam including IBPS Exam, Railway Exam (RRB Exam), UPSC CSE etc and also provide helps for co-curricular courses.
Like this, FastInfo is growing towards the achievement to become the India’s largest online platform for e- commerce sectors. FastInfo is yet to come up with many more projects in upcoming future like FastInfo Tech which is going to be launched very soon for the IT sector.
The story of Rajesh Kewat, a simple man from the small town of West Bengal, might seem like a run of the mill rags to riches story, but it is so much more:
We come across many rags to riches stories in a lifetime. Most of the stories are about an individual toiling hard to become significant in the world. The story of Rajesh Kewat, a simple man from the small town of Dinhata, West Bengal, might seem like a run of the mill rags to riches story, but it is much more. It is a story of a hardworking man who has managed to turn his fortunes and is now dedicated to simplifying the lives of those around him. Rajesh Kewat, a Masters in Computer Application is the Managing Director of FastInfo Legal Services Pvt. Ltd.
FastInfo Legal Services, formerly known as True Consultants was initially a platform for online RTI applications. The existence of an online portal for the same bridged the gap between the citizens and their right to question. The platform helped the citizens’ voices reach the correct places at a menial cost, affordable to all.
Online Legal India, another venture of Rajesh Kewat also enables easier procedures for GST Filing & Registration, Company Registration, Trade Mark Registration, and many more. It is a boon for small scale businesses as well, as it helps with formalities like business registrations & compliances.
Rajesh Kewat has been unstoppable once he realized the potential of simplifying lives with the help of the digital platform. He also started the FastInfo Classes that are not just online tutorials available for school students; it also has classes for competitive exams. There are multiple distance learning courses that are available on the platform. Many realize the positive and significant change that one can bring around, but only a few take a leap of faith and work to create that change.
Rajesh Kewat had been through the worst phase of his life in 2017, when he lost everything he had, to the point of being financially broke. But, it is his perseverance and confidence that helped him take back his worth and be a much stronger individual. He is a fine example to prove that to run a business, all one needs is the will to work hard and a sharp mind to make the right decisions.
A man of dreams and conviction, he shows in action how to never stop dreaming
Rajesh is a small-town entrepreneur, who just three years back had seen the whole of his life, crippling in front of his eyes as he fought with the world for his love. He lost his job, assets, and all his money to save his love and the phase was obviously very painful for him. This unknown storm had left him with no belongings but he was not yet completely broken. He carried in him a stunning spirit to fight back, get up, and create a beautiful future for himself.
From there on, he started building his own ladder to success without any financial support & only with blessing of those special people who blessed him in that tough time. He turned his venture FastInfo Legal Services Pvt Ltd into a profit-churning enterprise in no time and today boasts of a wide clientele and hundreds of positive testimonials.
Rajesh was born in Dinhata in 1985, in a lower-middle-class family. His father was an Assistant Manager at a petrol pump back then. His schooling was at Stationpara Saranarthi High School and then he pursued his Bachelor of Computer Applications from IGNOU followed by his Master of Computer Application from Punjab Technical University.
Being entrepreneurial in nature with a vision to support the greater good of society, he started working as an RTI activist while still studying, helping to educate people and supporting them in crucial matters.
His professional career began with a job at Lalani Computer Academy where he worked as a marketing executive for a humble pay of Rs. 2000 per month. For the next twelve years, he worked across a number of small firms, including Brainware Computer Academy, FirstSource Solution Limited, and took on the role of a teacher at Brahmani Chowki High School. Then he joined Educomp Solution Limited, Pearson India Education Services Pvt Ltd followed by Oxford as a Consultant.
Even while he was making his professional career, the idea of serving society never left him. His decade-long experience as an RTI activist prompted him to do something bigger to help the people. So, he came up with an online platform under the head of True Consultant to file RTI applications, which is open to everyone who wants to exercise their right by filing their RTI application at a very nominal charge.
While implementing these businesses, he came up with a new innovative online platform for the education sector named FastInfo Class.
This focused on Distance Education and online tutorial for the preparation of competitive exams as there were lagging with systematic tutorial classes and study centre through www.fastinfoclass.com.
Rajesh Kewat, Founder and Managing Director of the FastInfo Legal Services Pvt. Ltd. was awarded “Businessman of the Year” by renowned Bollywood actress Malaika Arora at the first edition of the National Fame Awards 2022 presented by Brands Impact in a ceremony held at one of the most opulent hotels, Vivanta New Delhi, Dwarka.
India’s top branding company Brands Impact organized the first edition of the National Fame Awards aiming to recognize the efforts and dedication of individuals and companies that have risen to fame and have nationwide supporters/ clientele, owing to their talent and contributions to various industries.
Congratulating Mr. Kewat, Amol Monga, Founder and Director of Brands Impact said “It is a matter for pride to be honouring people like Mr. Kewat who inspire thousands of budding entrepreneurs and businessmen who wish to make it big just like him. I wish him even greater heights of success and prosperity for future"
A man with humble beginnings, Mr Rajesh Kewat is the Founder and Managing Director of FastInfo Legal Services Pvt. Ltd. He grew up in a small town named Dinhata in the Cooch Behar district of West Bengal. As it's said that adversity is a great teacher and Mr. Kewat definitely learned a lot from his days of struggle. To help run their household, he started working at a young age.
On receiving the award, Mr. Kewat said, “This is a very proud moment for me, I want to dedicate this award to each and every member of the FastInfo group, my family members and all my well-wishers without whose support, it wouldn’t have been possible for me to stand on this stage today. I might be present here today physically, receiving this award but there are hardworks of many people behind this achievement. I would also like to thank Ms. Malaika for presenting me with the award.”
He wanted to achieve big things in life and knew becoming a businessman was one way to do so. People often think that a huge investment is needed to start a business. Yet, Mr. Kewat proved everyone wrong by starting his business with only an investment of rupees 1000 and today owns a group of companies with a turnover of crores. His group of companies comprises of six brands namely Online Legal India, FastInfo Class, Online RTI Application, Innovative Bharat, OnlyDesi, and Online Class India. As per his beliefs, anyone with a passion for business can become an entrepreneur and he always derives utmost satisfaction in encouraging the youth of the country. Mr Kewat believes, “You don’t need money to build your business empire, what you need is big dreams and a sharp mind! If you got it, try it.”
An ardent social worker, he has always found a way to give back to society, be it through filing RTI applications for free as a teen to launching his own websites like Online Legal India for legal advice, and FastInfo Class for Online Spoken English classes at an affordable fee of rupees 299/month. Inspiration for this is deeply embedded in his own experiences. As a child, due to challenging financial conditions, he had to transfer from an English-medium school to Bengali- medium and from then he has faced firsthand problems arising due to the lack of fluency in spoken English. To help people from tier three cities overcome this problem he is on his newfound mission to provide Spoken English and overall personality development classes by opening up centers starting with his district Coochbehar.
Recently, he launched the Online RTI Application website absolutely free for the public to obtain expert advice on RTI filing. His main goal has always been to bridge the gap between affordability and accessibility.
A journey of a thousand miles begins with a single step, and for Mr Rajesh Kewat this is just the beginning of his journey. He will always find ways to help society and encourage entrepreneurship among the youth of India!
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When you want to convert your One Person Company to a Private Limited Company, you need to follow some specific process to comply with the Companies Act 2013 and the rules of 2014. Then, you can avail of the benefit of a Private Limited Company.
