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COMPANY NAME CHANGE

When you first know about a product, the first thing which you probably see is the Company’s name. Yes, a Company name is very much important and is as important as your Company is. Thus it is very important to have a good Company name. A Company needs to have a name in order to establish its identity. The name clause is one of the most important and probably the foremost clause in the Memorandum of Association. It is the name by which a Company is known.

 

A name should be unique and should not be identical. So if any of the comPANies want to change their Company name then they have to do so in accordance with the provisions of Section 13 of the ComPANies Act, 2013. They have to undergo the following pROCesses and have to keep these guidelines in mind.

 

The Company can change its name by passing a special resolution and if approved by the Central Government in writing, then is allowed to use the changed name. But in any case, if the change required is just the addition thereto or deletion there-from, of the word “Private”, then no such approval of Central Government is required for the same.

 

Who is not allowed

Any Company which has not filed annual returns or which has financial statements as due for filing with the Registrar or which has not been able to pay or repay matured deposits or debentures cannot benefit from this for it is not allowed.

 

 

The PROCess of changing the name

In order to change the name of a Private limited Company the following pROCedure has to be followed:

 

Passing of the Board Resolution, when members are mutually agreed 

A board meeting has to be called in order to pass a resolution for changing the Company name. The Board of Directors decides upon the name which has been proposed.

 

Check for the availability of the name

The name which has been proposed should not be similar to that of the name of an existing Company. The Company director or secretary would apply in the FORM INC-1 to MCA for checking name availability and approval of the same. The ROC tells whether the name is available and whether the name can be taken into consideration while deciding or not.

 

Passing a Special Resolution

After the name has been approved by MCA, the Company can call for an extraordinary general meeting which passes a special resolution for the changing of the name and the making a change Memorandum of Association and Articles of Association

 

Applying to the Registrar

A special resolution has to be filed with ROC within 30 days after the passing of the resolution. Form MGT-14 also has to be filed along with it. These are the following documents which are to be submitted along with the MGT - 14.  

 

Issuance of the certificate

After a thorough check of the documents, if the ROC finds all the documents legitimate and is satisfied with them, then it would issue a new certificate of incorporation. The pROCess of getting the name changed, cannot be completed until a new certificate has been issued. 

 

Incorporating the Company name in MOA and AOA

After the new certificate of incorporation has been received from the ROC, it is necessary for the Company to incorporate the name in all the copies of MOA and AOA.

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FAQ - Frequently asked questions

What are the don’ts while selecting Company Name for company name registration?

A business name shouldn’t be similar to another existing name. Thus a few things to be kept in mind while selecting a company name registration in India which don’t make a name unique in comparison to an existing name are: 1. Making a plural version Changing the letter case, 2. hiding or adding a space between two words or adding punctuation marks 3. Changing word to number or number to word Intentionally miss-spelling the words 4. Translating Hindi words to English or vice versa Offensive or abusive words


What is the validity period of the Company Name that is approved?

An approved name is valid for a period of (i) 20 days from the date of approval (in case name is being reserved for a new company) or (ii) 60 days from the date of approval (in case of change of name of an existing company)


Can I check the availability of my proposed company name before applying to the MCA?

Yes, you can check the availability of my proposed company name before applying to the MCA. Also you can register company name online in India.


I have got the RoC approval for changing the name of my company. Where should I update this change in the name?

After you have received the new Certification of Incorporation from the RoC, you need to update the new name in all or more of the following- 1. In the office seal 2. In the promissory notes, bills of exchange and other such official publications 3. Inform the bank where the current account of the company is in operation. 4. Inform concerned Government authorities such as CDSL, NSDL, Tax authorities, PF & ESI authorities, etc. 5. Inform the customers and suppliers 6. In social media accounts and company websites 7. In Email footers 8. In the company PAN and TAN 9. On company stationery - letterheads, business cards, etc. 10. Voicemails, messages on answering machines 11. Company registers 12. Employment Contracts 13. Update business licenses or permits 14. Supplier Contracts


When will be the company name effective?

From the date of issue of new COI


When the change of name is not allowed to a company

The company who has not filed annual return or has failed to pay or repay matured deposits or debentures