Have you decided to rename your business? If yes, no matter what is the reason, the very first thing you need to do is update it to the registrar. To change the name of your company, you have to comply with the requirements set by the Company’s registrar.
The name of the company can be changed by passing a special resolution in a board meeting. Section 13, of Companies Act deals with the company’s name change process.
Once, MCA gives its approval for the name change in the MOA and in the AOA is also mandatory.
Following are the conditions which have to be kept in mind while selecting the name for the company:
- MCA ensures the name applied doesn’t resemble the name already registered as a company or trademark. Mere joining the separate words or using the plural version of the existing name doesn’t make it unique.
- MCA restricts the name which are too general, such as Cotton Company Private Ltd.
- The name of the company cannot start with the name of the person.
- The name selected for the company shall align with the objects of the company.
- The name shall not include the words that indicate any constitution or any legal person such as LLP, Trust, HUF, etc.
- The last words of a Private company shall end with Private Ltd., One Person Company with OPC Private Ltd., and the Public Company shall end with the word Ltd.
Changing the company’s name is not a small task as you have to be aware of all the rules and regulations set by ROC. You need to follow a specific procedure which is as follows:
- First of all, you need the board to pass a resolution containing the company’s new name. The name should comply with all the rules and regulations provided by ROC.
- Then you will be asked to submit a few documents which will be approved by ROC as well. If ROC approves both the new company name and documents then you can switch the company name and can advertise it in the newspaper or anywhere else.
Following are the steps followed by the company willing to change its name:
- Conduct Board meeting: The proposed name shall be discussed by the directors of the company. Notice of 7 days is issued to the directors to conduct the board meeting to pass the necessary resolution for the approval of name change.
- Check the availability of Name: Company shall check the name for its availability through MCA. It can be checked whether the same name is registered as a trademark.
- Apply online for Name Approval: After the name is checked and the same is available, it can be applied through new web service RUN. Upto 2 names can be applied through this form. After thorough scrutinizing of the application, ROC either approves the name or puts it to resubmission. The name approved by ROC remains valid for 20 days from such approval.
- Conduct extra-ordinary General Meeting: After the name is approved by the ROC and the name approval letter is received by the company, shall call and necessary special resolutions for approval of name change and making amendment to MOA & AOA.
- Filing with ROC: Within 30 days of conducting EG, you can file the special resolution with ROC in form MGT-14 .
- Approval of Central Government: Company has to take the approval of the central government for the name change and alteration in MOA by filing form INC-24. Copy of minutes in EGM in which resolution was passed shall be attached with form.
- New Certificate of Incorporation: After the process of name change is completed, ROC shall issue the new COI with amended name mentioned on it . The name becomes effective since the issue of COI.
- Digital Signature Certificate (DSC)
- MOA & AOA
- Certificate of Incorporation (COI)
- PAN card of the company
- Change in the name of the company can enhance the Brand value. Also, industries where trends changes over a period over time, an appropriate name can be chosen to be in line with the trend.
- ASA is a leading organisation with experts who have been the part of the industry for quite a long time. Our advisors are here help to you around clock.
- Our experienced professionals will provide you with consultation related to name availability, necessary resolution, documents, alteration of MOA & AOA, and others.
- We assure to make this complicated process easy for you by guiding you through the way, so you can have more room for the other important things to look after.
- Just leave all the hectic tasks on us and choose us to assign a new name to your company that will boost your business sales.