In case the paid-up share capital of an OPC exceeds fifty lakh rupees or its turnover exceeds INR 2 crores for any 3 consecutive financial years, then the OPC has to mandatorily convert into private limited or public company.
The OPC shall inform RoC in form INC-5 if the threshold limits are exceeded and is required to be converted into private or public company. Form INC-5 shall be filed within sixty days of exceeding threshold limits.