Sometimes when you want to set up a business empire of your own you may face the tedious challenge of coming up with a Company/LLP name. A Company/LLP name is indeed an important aspect for a Company/LLP’s identity. Just like it is necessary to have a unique name for yourself, the same is with that of the matter of the Company. A unique Company/LLP name helps you to identify and distinguish your products or services with the rest of the others.
If any person seeks for a reservation of a proposed Company or wants to change an existing Company then they should apply for this reservation through the RUN service. The RUN service stands for Reserve Unique Name and allows the applicant to get a suitable name approved for a Company. The service’s application is then pROCessed by the CRC or the Central Registration Centre. Now there is no requirement for Form 1.
The registration pROCess of RUN
For registration purposes, these are the documents which are required:
An MCA account
A registered CIN or the Corporate Identification Number
The new name is to be proposed.
Relevant documents which are required for the proposed name
Talking of the rules and regulations which governs the RUN form are as follows:
The name which is to be held must be unique and identical and must not be taken any of the other organisations under the ComPANies Act.
The name should not have any offence under any law
It should not be undesirable in the opinion of the Central Government.
The name of the Company must not have any word or expression which leads to the conclusion that it is connected to any central or state government body unless it is actually approved by the govt. Bodies.
The validity of the Company name
After the name has been approved by the MCA, then the name can be reserved by the LLP for a tenure of 90 days from the date of issuance.
Registration Charges of RUN Web Form
Of the registration charges, a nominal fees of Rs. 500 is to be paid while applying for the Company title. While applying for the title one thing which has to be kept in mind is that two names can be given in preference order, for the reservation. Moreover, if the MCA rejects the names, then another chance can be providing the names.