colaws

Acc to Rule -6,              OPC can be converted in two cases:                  1- Compulsary conversion 2- voluntary conversion Compulsary conversion When paid up share capital exceeds 50 lakh rupee and it's average annual turnover during the relevant period (preceeding 3 financial year) exceeds 2 crore rupees. Conversion should be under 6 months if wanna convert in private than atlst 2 directors and 2 members are needed and if wanna convert in public company than atleast 3 directors and 7 members are needed.

Promoter:    section 2 (69) of company law 2013                                       promoter is a person who conceives a idea and does formalities to incorporate the company. Subscriber:   not defined in companies act                                       subscriber is aperson mentioned under subscription clause of MOA. Note    1- every promoter needn't be a subscriber.             2- every subscriber needn't be a promoter. Shareholder:    not defined in companies act                                               Shareholder is a person holding the shares of company. Note:      1-every subscriber to a MOA is a shareholder.                2- every shareholder needn't be a subscriber. Member:   Section 2(55)                                      Member is a shareholder whose name is registered physically with company or electriconally with depositories. Note:  1-every member is a shareholder but every shaareholder is not a me