A Private Limited Company can be converted into One Person Company, as per the Companies act, 2013. A Private Company, other than a company registered under section 8 of the Act, having paid up share capital of Rs. 50 Lakhs or less or average annual turnover during the relevant period is two crore rupees or less may convert itself into one person company. In other words a Private Company with paid up capital of more than 50 Lacs or average annual turnover of more than Rs.2 Crores, cannot convert itself into One person Company.A Special Resolution in the General Meeting has to be passed to approve such conversion, before passing such resolution, the company shall obtain a No Objection in writing from existing members and creditors. It is important to note that No objection in writing from existing members and creditors is required shall be collected before passing Special Resolution.