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Company - Name Change
Compliance when changing your company name involves adhering to legal, regulatory, and operational requirements to ensure a smooth transition while maintaining transparency and integrity.
To alter the name of a private limited company, a special resolution must be passed by the shareholders, and permission must be obtained from the Ministry of Corporate Affairs (MCA). This means that changing a company’s name is not a decision that can be made by one individual alone; it involves the input and agreement of all parties involved. Despite the change in name, however, the legal status and continued existence of the company remain unaffected. The process may seem daunting, but it is necessary to follow the rules and regulations set out under the Companies Act, of 2013. Ultimately, changing a company’s name should only be done after careful consideration and planning to ensure a smooth transition and maintain the integrity of the business.
Need to change the Name of the Company
A Company decides to alter its name for a number of reasons. The following is a list of some of the typical reasons:
- Voluntary Change of Name: The company’s Board may opt to freely change the name of the business. As long as all requirements are met, changing the company name voluntarily is legal.
- Change in business activity: When a company’s Board decides to change its business operations, the name change may follow. To reflect the new or extra business objects, it could alter the name. In such cases, the business should also change the main object stated in its Memorandum of Association.
- Change in Ownership: The company name frequently changes to represent the authority of the new management and for branding reasons when a firm’s ownership or ownership by an entity changes.
- For Marketing Purposes: A business may alter its name for marketing purposes or to better position its brand. For improved brand positioning, the name might also be changed to reflect the most recent style and trend. A corporation may alter its name to reposition its brand when it is prepared to enter a new market.
Attachments to form MGT-14:
- Certified True Copies of the Special Resolutions along with explanatory statement
- Copy of the Notice of meeting send to members along with all the annexure
- Altered Memorandum & Article of Association
- Copy of Attendance Sheet of General Meeting
- Shorter Notice Consent, if any
Attachments to form INC-24:
- Notice along with Explanatory Statements
- Certified True Copy of Special Resolution
- Altered Memorandum & Article of Association
- Minutes of General Meeting
- Affidavit from Directors
(a) paint or affix its name, and the address of its registered office, and keep the same painted or affixed, on the outside of every office or place in which its business is carried on, in a conspicuous position, in legible letters in local language and English preferably being commonly used.
(b) get its name, address of its registered office and the Corporate Identity Number along with telephone number, fax number, if any, e-mail and website addresses, if any, printed in all its business letters, billheads, letter papers and in all its notices and other official publications;
(c) updation of address in all other statutory offices, EPFO, ESI, Income Tax, GST and other valid registrations.
Application for RUN – Application for the reservation/availability of name shall be made in eform RUN along with prescribed fee of Rs. 1,000/- which may either be approved, resubmitted or rejected, as the case may be, by the Registrar, Central Registration Centre. The following points must be considered while filing the application –
- Proposed selected names should be unique and different and not similar to the existing company names or registered trademarks.
- You can apply for maximum two names as per your choice
- Once name is approved by the ROC, the same is reserved up to 20 days from the date of approval
Calling Extra Ordinary General Meeting: On approval of the name, the company shall call Extraordinary General Meeting and pass a special resolution to approve alteration in Name Clause of the Memorandum of Association.
Requisite Filings: The following e-forms shall be filed by the Company within a span of 30 days of passing the Special Resolution:
- E-form MGT-14 (necessary resolution for alteration of Memorandum of Association and Articles of Association (MOA and AOA) needs to be filed.
- E-Form INC-24 (Application for approval of Central Government for change of name) needs to be filed to give effect to change in name.
Issuance of Fresh Certificate of Incorporation: After scrutiny of the documents filed, the ROC shall issue a fresh certificate of incorporation digitally signed in Form INC-25.
WHY CHOOOSE TAX GUIDER
Tax Guider is a top and trusted choice for partnership firm registration for several key reasons:
Expert Guidance: Our team of legal and accounting professionals helps you through every step of the registration process.
Efficient Processing: We ensure you a quick and hassle-free registration process aimed at minimizing delays.
Transparent Pricing: We offer clear pricing with no hidden fees. Every fee is made clear at the beginning.
Post-Registration Services: We offer comprehensive services like GST registration, tax filing, and compliance support, to ensure your business remains complaint throughout the year.
Frequently Asked Question
Which approvals are required for a Name Change?
How long will it take for the name change after filing the documents with the ROC?
What should one do after the name change?
Whether MoA & AoA is required to be altered?
Whether GST Number will change?
Whether the company has to intimate its customers of the name change?
Whether the company has to display the old name together with the new name?
When will the new name be effective?
Can the company alter its object clause simultaneously?
EXPERT GUIDANCE
Our team of legal and accounting professionals helps you through every step of the registration and accounting process.
TRANSPARENT PRICING
Tax Guider Offers clear and affordable pricing with no hidden fees. Every fee is made clear at the beginning.