Yes, there can be a conversion of OPC into a Pvt. Ltd. Company . The conversion can be voluntary or compulsory.
One Person company can voluntarily convert into a private limited company if it fulfils the following conditions:
- 2 years must have been passed from the date it was incorporated,
- Irrespective of the total annual turnover or paid-up capital.
- The conversion must be in accordance with Section 18 of the Companies Act, 2013 and Rule 7(4) of the Companies (Incorporation) Rules, 2014.
One Person Company has to mandatorily convert into a Private Limited Company in the following conditions:
- The paid-up share capital of the company has exceeded Rs. 50 lakhs.
- The annual turnover of the company has exceeded Rs. 2 Crores.