Discuss the procedure for conversion of private company into one person company.

The procedure for conversion of private company into one person company, laid in Rule 7 of the Companies (Incorporation) Rules, 2014 is discussed below. A private company other than a company registered under Section 8 of the Act, may convert itself into one person company by passing a special resolution in the general meeting. Before passing such resolution, the company shall obtain no objection in writing from members and creditors. The one person company shall file copy of the special resolution with the Registrar of Companies within 30 days from the date of passing such resolution in Form No. MGT. 14. The company shall file an application in Form No. INC.6, for its conversion into one person company along with fees as provided and by attaching the following documents, namely: 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; the list of members and list of creditors; the latest audited balance sheet and the profit and loss account; and the copy of no objection letter of secured creditors. On being satisfied and complied with requirements stated herein the Registrar of Companies shall issue the Certificate.