EFG Pvt. Ltd. wants to convert the Private Company into a One Person Company (OPC). The Company seeks your advice on the following matters: Whether company required to obtain 'No Objection Certificate'.
CS Executive · Setting up of Business Entities and Closure · PYQS · June 2021
EFG Pvt. Ltd. wants to convert the Private Company into a One Person Company (OPC). The Company seeks your advice on the following matters: Whether company required to obtain 'No Objection Certificate'.
Answer & Explanation:
(ii) Whether company required to obtain 'No Objection Certificate': As per Rule 7(2) of the Companies (Incorporation) Rules, 2014, before passing such special resolution in the Extra-Ordinary General meeting (EGM) to get approval of shareholders for Conversion of Private Company into One Person Company (OPC), the Company shall obtain No Objection Certificate in writing from existing members and creditors.
Topics: Company Law
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